House prices in West Wodonga are expected to grow by nearly 25 per cent in just three years, according to analysis by property valuation firm Suburb Growth.
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West Wodonga is one of 20 suburbs identified by the firm, where house values are forecast to increase by more than 20 per cent.
Head of research Jeremy Sheppard said the company uses an algorithm to measure the supply and demand ratio for suburbs across the country, analysing auction clearing rates, selling times and vacancy rates to predict future growth.
Mr Sheppard said there were many reasons why a suburb might experience growth, from infrastructure growth to people being priced out of nearby suburbs.
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The current median house price in West Wodonga is $343,642, but Mr Sheppard said the median price was expected to grow to $365,400 in 2020, $395,900 in 2021 and to $427,400 in 2022.
If correct, house values will have grown 24.20 per cent in three years, with a median accumulative growth gain of $83,200 for homeowners.
West Wodonga has already seen significant growth in recent years, with the median value of houses increasing from $288,333 in 2015 to $343,642 in 2019.
For existing homeowners, Mr Sheppard said, it's a win-win situation.
"It means there's a good reason to hang in there," he said. "If for whatever reason you have to sell it's a good time as you're in the block seat as the owner.
"For those looking to get into the area, these types of markets are good for capital growth in the future but it's not going to be easy for them, in these types of areas there's typically a large number of buyers and few sellers.
"You'd need to make good strong offers, early it's not a bargain hunters' place, but it could be worth the trouble."