At number 1141th in the list of Australian suburbs ordered by increase in median house value over the last year, Armidale, 2350 is in the top 30% with a property value increase of 3.43% recorded in median house prices.
A 9.70% growth in median value for property investors in Armidale,2350 puts this suburb at number 365th in terms of best performing suburbs in NSW
At number 679th of NSW’s most discounted properties, Armidale is in the TOP 30% of the state/territory when listing in order of most discounted to least.
Property investors should expect to get $360 weekly from the median priced house in this suburb.
Armidale is an average performer in NSW when comparing median price capital growth over the last year. Armidale gave property investors a good capital gain figure when compared to the rest of the state, with -3.03%.
Armidale,2350 has offered an average of -3.03% return per annum in house price rises to property investors over the last three years.
Property buyers and investors in Armidale 2350 should be seeing an average reduction in asking price of around -6.40% . This means that Armidale is holding prices well when compared to other suburbs in NSW.
Residents and property investors in Armidale have been waiting around 147.931 days to sell a property.
Renters in Suburb are facing rents around $13520 per annum or $260 every week.
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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.