If you compare the increase in value of investment property in Armidale, 2350 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this NSW suburb was -0.07%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Armidale has increased when compared to the 5 year average annual rate.
LACK OF BUYER INTEREST may well be the reason that Armidale is offering property investors an average of -5.23. This rate of discount on properties puts Suburb at number 318th in terms of most discounted suburbs in NSW
Armidale is in the bottom 20% in NSW when comparing median price capital growth over the last year. Armidale gave property investors a dismal capital gain figure when compared to the rest of the state, with -1.46%.
Armidale,2350 has offered an average of -1.46% return per annum in house price rises to property investors over the last three years.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Armidale, 2350. Typically our figures indicate that -6.04% is being offered, which puts this NSW suburb at 451th most discounted overall in Australia.
In the last year 62 properties changed hands in Armidale, which puts it as the 233th most active market in NSW when comparing the number of sales per suburb.
Armidale, 2350’s gross rental yield is 5.99%
Armidale serves as the regional hub for the New England tablelands. Location-wise, it’s slightly closer to Brisbane than Sydney, and is around 100km northeast of Tamworth. It has its own airport, with regular flights to Sydney, as well as rail and bus links. It is also the major retail centre for the northern tablelands, with three shopping malls. Full summary
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Armidale serves as the regional hub for the New England tablelands. Location-wise, it’s slightly closer to Brisbane than Sydney, and is around 100km northeast of Tamworth. It has its own airport, with regular flights to Sydney, as well as rail and bus links. It is also the major retail centre for the northern tablelands, with three shopping malls.
The city centre has been undergoing major upgrades since 2003. Key industries are education – Armidale is home to the University of New England – retail and professional services, offering a range of employment opportunities.
The city is also earmarked as one of the NSW government’s ‘Evocities’, as well as a testing ground for the National Broadband Network. This, combined with the benefits of further infrastructure investment in the region as part of independent MP Tony Windsor’s agreement with the Labor Party, is likely to spur further population growth – the population of north-west NSW is increasing by around 5,000 people per year – and demand for housing. Property analyst Michael Matusik believes Armidale is in an upswing phase.
“[It has] a shortage of property for rent,” says Matusik. “Sales volumes are also increasing.”
As an investment proposition, Armidale looks very strong on paper. There are a wide range of houses, with a number of character homes dating back to the Victorian period. However, properties are still very affordable. Rental yields are also strong – and, like other university towns, could offer potential for cash flow positive student accommodation.