Giving property investors a an average capital gain of 2.86% for the last year, Armidale, 2350 is the 2411th highest performer in Australia in this respect.
The five-year average increase in median property values for Armidale,2350 has given property investors a potential capital gain of 24.14% across each of those five 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 -5.48% is being offered, which puts this NSW suburb at 2215th most discounted overall in Australia.
Often selling an investment property can take time, and in Armidale the average time real estate has been on the market is 123.55 days.
Using the current median advertised rental of $350 and the average annual increase in value of a median property of 4.33%, investors should hope to achieve an overall return of 5.06%
Property investors who have had real estate in Armidale, 2350 should be relatively unhappy with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -4.52%
Armidale,2350 was ranked 278 in Australia by increase in median property value over the quarter.
Sellers are offering property buyers an average discount of -4.73% to buyers in Armidale at the moment, which is less than average for the rest of NSW.
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.