Investment property in Armidale has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 2.86%
If we look at median property appreciation over just the last three months, Armidale has given property investors a paper return of -0.28%. This puts Suburb as 1098 on a list of fastest fasting appreciating suburbs in NSW
The most recent median price for Armidale is $360000, with sellers offering an average of -5.48% off the asking price.
At number 3190 in a list of fastest selling suburbs, Armidale is in the bottom 20% of suburbs in Australia with an average of days on market 121.61 for properties listed there.
Property investors should expect to get $350 weekly from the median priced house in this suburb.
Property value increases in Armidale have tracked lower than the NSW average of 5.88% over the last 12 months.
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.
Vendor discounting in Armidale is giving property investors an average Vendor Discount of around -5.09%. This puts suburb at number 145th in NSW when ranking the most discounted suburbs.
Property investors should expect to get $270 weekly from the median priced house in this 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.