Giving property investors a an unimpressive capital gain of -1.10% for the last year, Armidale, 2350 is the 3284th highest performer in Australia in this respect.
Comparing Armidale,2350 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property buyers and investors in Armidale 2350 should be seeing an average reduction in asking price of around -6.44% . This means that Armidale is holding prices well when compared to other suburbs in NSW.
Armidale is 143th on a list of best yielding suburbs for rents in NSW with a 5.08% return
Over the last year, property investments in Armidale, 2350 have given investors a capital gain of 7.83%. This compares averagely with the 7.48% for NSW as a whole.
Armidale,2350 has offered an average of 7.83% return per annum in house price rises to property investors over the last three years.
Vendor discounting in Armidale is giving property investors an average Vendor Discount of around -6.62%. This puts suburb at number 33th in NSW when ranking the most discounted suburbs.
Often selling an investment property can take time, and in Armidale the average time real estate has been on the market is 165.45 days.
With the median price for a house in Armidale being $248000 and the advertised rent reaching $275 the gross rental yield for property investors calculates out to be 5.77%
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.