Armidale has had a very poor year for property investment returns compared to the rest of NSW, giving investors a capital gain of -0.28% to date .
Comparing Armidale,2350 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
The most recent median price for Armidale is $359000, with sellers offering an average of -6.22% off the asking price.
The NSW suburb of Armidale, 2350 is in the Armidale Dumaresq local government area.
Over the last year, property investments in Armidale, 2350 have given investors a capital gain of 2.74%. This compares badly with the 8.31% for NSW as a whole.
Over the longer term, Armidale has seen property prices show investors a -4.31% return over the last 3 years. This is an improvement over the last 12 months
Property investors looking for a bargain in Armidale should be aiming for at least -6.79% 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 151.91 days to sell a property.
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.