Armidale, 2350 ranked 825th in NSW when comparing growth in median property values or capital gain over the last 12 months. Armidale is one of 3163 in our list for NSW
Across a shorter period, Armidale, 2350 has seen a median price increase of 2.27% over the last quarter.
At number 547th of NSW’s most discounted properties, Armidale is in the middle of the state/territory when listing in order of most discounted to least.
Often selling an investment property can take time, and in Armidale the average time real estate has been on the market is 126.14 days.
A $350 per week rent on the median house gives suburb investors a gross yield of circa 5.06%, without taking into account capital value appreciation, which has been averaging out at 4.51%.
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 -10.96%.
Comparing Armidale,2350 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Our latest figures would indicate that property sellers in Armidale are currently offering property investors an average price cut of -5.24% below the asking price at the moment.
In the last year 71 properties changed hands in Armidale, which puts it as the 207th most active market in NSW when comparing the number of sales per suburb.
Situated 337.47km from the CBD, Armidale is one of Armidale Dumaresq localities in the postcode 2350.
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.