Albury’s momentum and the road ahead

The attraction is clear. Albury offers affordability, opportunity and liveability that continues to draw families, professionals and businesses seeking a better balance. This growth creates real opportunities for our community – including more housing, more businesses and more services supporting jobs, investment and the diverse lifestyle that makes Albury such a great place to live.

The numbers tell the story. Over the past financial year:

• Residential construction certificates rose 7.6 per cent, valued at $97.7 million.
• Non-residential construction certificates doubled, to $60.7 million.
• Our Gross Regional Product reached $5.26 billion (as at July 2024), up 4.58 per cent on the previous year.

Housing affordability remains a strong advantage. At $600,000, Albury’s median dwelling price is less than half that of Sydney and well below Melbourne. Vacant land also presents opportunities, with a median price of $210,000. Yet our rental vacancy rate is just 1.0 per cent, among the lowest in the state, highlighting the pressure to increase supply.

Albury is rapidly growing. The city has sustained a population growth of more than 1.5 per cent annually for the past five years, with projections indicating an ongoing increase of around 1,000 people (or 400 dwellings) per year. This sustained growth reinforces the need for strategic planning to ensure infrastructure and services keep pace.

The very factors that make Albury attractive depend on the capacity of our core services to keep pace. That’s why AlburyCity has adopted comprehensive Water and Wastewater Master Plans, providing a clear roadmap for the city’s water security, wastewater management and long-term sustainability. These plans support the city’s largest investment in essential infrastructure in its history, ensuring we can unlock housing opportunities to meet the needs of both current and future residents.

Key documents shaping Albury’s growth and future-proofing essential infrastructure also include the Albury Social Infrastructure Strategy and the revised Thurgoona Wirlinga Precinct Structure Plan. Together, they provide a structured approach to land use and infrastructure planning and will guide the city’s development over the next 20 to 50 years.

Further areas of focus include working with other levels of government to ensure essential infrastructure keeps pace with growth. While the State Government is responsible for services such as hospitals, major roads and schools, it is Council that must deliver the supporting infrastructure that makes these facilities work for the community, from local roads and footpaths to water, wastewater and other critical connections.

Balancing this growth during times of financial sustainability and cost-of-living pressures is key. Like many households and businesses in our community, Council is not immune to these pressures. We have finite resources, and we must carefully prioritise spending to ensure essential services continue to meet demand while maintaining fiscal responsibility. It requires careful planning, collaboration with government and the private sector, and a community-wide understanding of the opportunities and constraints we face.

Albury’s story is one of momentum. With strong migration, steady investment, and a community that values both progress and liveability, we have much to be optimistic about. But we must ensure the services that underpin daily life, such as water, housing, transport, education and wellbeing, continue to evolve alongside the city we are becoming. That balance is where our focus lies.

You can access Regional Australia Institute’s June Quarter Regional Movers Index (RMI) here.

Bridgett Leopold
AlburyCity Acting Chief Executive Officer