Giving property investors a an unimpressive capital gain of 1.55% for the last year, Armidale, 2350 is the 2826th highest performer in Australia in this respect.
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.
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 -5.75% is being offered, which puts this NSW suburb at 1865th most discounted overall in Australia.
With the median price for a house in Armidale being $360000 and the advertised rent reaching $350 the gross rental yield for property investors calculates out to be 5.06%
Giving property investors a an unimpressive capital gain of -2.01% for the last year, Armidale, 2350 is the 1252th highest performer in Australia in this respect.
Across a shorter period, Armidale, 2350 has seen a median price increase of 1.04% over the last quarter.
Property investors looking for a bargain in Armidale should be aiming for at least -5.93% off the asking price, which is the average vendor discount being achieved at the moment.
Residents and property investors in Armidale have been waiting around 149.65 days to sell a property.
Advertised rents are around the $272.5 mark per week – giving a return of 5.81% based on the median price in Suburb
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.