With a capital gain of 1.72% for the last 12 months, Armidale, 2350 has performed for property investments than its average annual 4.11% property growth over the last 5 years.
Taking the average capital gain, or increase in median house value, Armidale,2350 has racked up an average of 1.72% over the period. This ranks it number 2910th in the whole country for real estate investors looking at median house price increases.
LACK OF BUYER INTEREST may well be the reason that Armidale is offering property investors an average of -5.49. This rate of discount on properties puts Suburb at number 497th in terms of most discounted suburbs in NSW
With the median price for a house in Armidale being $355000 and the advertised rent reaching $350 the gross rental yield for property investors calculates out to be 5.13%
Armidale, 2350 ranked 502th 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
Over the longer term, Armidale has seen property prices show investors a -2.42% return over the last 3 years. This is worse than over the last 12 months
At number 119th of NSW’s most discounted properties, Armidale is in the bottom 30% of the state/territory when listing in order of most discounted to least.
Situated 332.65km 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.