Giving property investors a an average capital gain of 3.45% for the last year, Armidale, 2350 is the 2404th 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.
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.52% offered to property buyers. Sellers in Armidale itself are offering an average vendor discount of -5.77% to real estate investors.
Using the current median advertised rental of $350 and the average annual increase in value of a median property of 4.42%, investors should hope to achieve an overall return of 5.17%
Over the last year, property investments in Armidale, 2350 have given investors a capital gain of -4.86%. This compares very badly with the 8.14% for NSW as a whole.
Armidale,2350 has offered an average of -4.86% return per annum in house price rises to property investors over the last three years.
Armidale, 2350 is offering NSW ‘s 91th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 20% of discounts offered by this NSW.
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.