Suburb Profile Report for Armidale NSW (2350)

Armidale House: Median price $362,000, Annual capital growth 3.44%, Number of sales 365, Weekly median advertised rent $360

Armidale Unit: Median price $240,000, Annual capital growth 1.86%, Number of sales 43, Weekly median advertised rent $260

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

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.

Information supplied by:




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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.

Metrics i HOUSE UNIT
$362,000 $240,000
0.56% -2.04%
3.43% -3.03%
3.44% 1.86%
$360 $260
365 43
5.17% 5.63%
109.410041841004 147.931034482759

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Balanced (H), Balanced (U)
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Demographics
Total population 22467
Median household income ($/weekly) 986
Median age of persons 34
Median housing loan repayment ($/monthly) 1470
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 2958 13.2
    25-34 years 2518 11.2
    35-44 years 2477 11.0
    45-54 years 2903 12.9
    55-64 years 2461 11.0
    Others 9151 40.7
    Age Group
    Census Count Percent(%)
    Not Married 6644 45.0
    Registered Married 6551 44.4
    Defacto Relationship 1565 10.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 18336 87.2
    Croatia 248 1.2
    Papua New Guinea 219 1.0
    United Kingdom 601 2.9
    Other 661 3.1
    Others 963 4.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 282 1.4
    Christianity 14522 71.8
    Islam 353 1.7
    Other Religious Groups 126 0.6
    No Religion 4826 23.9
    Others 120 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 896 12.5
    $600-$799 859 12.0
    $800-$999 715 10.0
    $1,000-$1,249 675 9.4
    $1,500-$1,999 867 12.1
    Others 3145 43.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 6765 39.7
    Employed, worked full-time 5536 32.5
    Employed, worked part-time 3358 19.7
    Unemployed, looking for work 797 4.7
    Employed, away from work 591 3.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 1117 11.8
    Professionals 2427 25.6
    Technicians & trades workers 1130 11.9
    Community & personal service workers 1072 11.3
    Clerical & administrative workers 1296 13.7
    Others 2439 25.7
    Occupation
    Census Count Percent(%)
    Pre-school 406 5.4
    Infants/Primary 1811 24.3
    Secondary 1727 23.2
    Technical or Further Educational Institution 648 8.7
    University or other Tertiary Institutions 2760 37.0
    Others 99 1.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 16548 86.9
    Flat, unit or apartment 1602 8.4
    Semi-detached, row or terrace house, townhouse 812 4.3
    Caravan, cabin, houseboat 52 0.3
    House or flat attached to a shop, office 28 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 2925 37.7
    Fully owned 2595 33.4
    Being purchased 2188 28.2
    Other tenure type 53 0.7
    Tenure Type
Census 2011, ABS
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