With a capital gain of -1.94% for the last 12 months, Armidale, 2350 has performed for property investments than its average annual 2.48% 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 -1.94% over the period. This ranks it number 2947th in the whole country for real estate investors looking at median house price increases.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Armidale, 2350. Typically our figures indicate that -6.62% is being offered, which puts this NSW suburb at 1348th most discounted overall in Australia.
Property investors should expect to get $360 weekly from the median priced house in this suburb.
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 0.00%
Armidale,2350 has offered an average of 0.00% 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 -6.29% . This means that Armidale is holding prices well when compared to other suburbs in NSW.
At number 1349 in a list of fastest selling suburbs, Armidale is in the bottom 10% of suburbs in Australia with an average of days on market 162.368 for properties listed there.
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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.