With a capital gain of 2.06% for the last 12 months, Armidale, 2350 has performed for property investments than its average annual 4.24% property growth over the last 5 years.
When looking at the potential capital gains offered to property investors over the last 3 years, Armidale comes in at number 1223th in NSW.
Property buyers and investors in Armidale 2350 should be seeing an average reduction in asking price of around -5.50% . This means that Armidale is holding prices well when compared to other suburbs in NSW.
Armidale is in the bottom 10% 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 -6.00%.
Comparing Armidale,2350 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
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 -5.25% is being offered, which puts this NSW suburb at 681th most discounted overall in Australia.
With the median price for a house in Armidale being $235000 and the advertised rent reaching $270 the gross rental yield for property investors calculates out to be 5.97%
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.