Armidale NSW 2350: Property Market Report & Real Estate Insights

Part of Armidale Regional, NSW

Armidale Real Estate Market Outlook

Thinking about buying in Armidale? Now could not be a better time, with 16879 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $592,000 with prices in this suburb ranging from $22,000 to $6,502,000. The approximate distance to the coast is 119 Km.

Living in Armidale

In Armidale there has been a history of lower than average prices and demand, offering opportunities for investors or first home owners, especially in the context of the growth in working from home. Low average incomes in Armidale is reflected in smaller and lower quality accommodation. Over time this may change providsing long-term returns but in the short to medium term, prices are likely to be less than state averages. A mix of professions and above average income earners in Armidale provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. Lower than average population density constrains growth in Armidale to an extent. However, where buyers are willing to compromise on housing and lifestyle choice, there are affordable options. Higher than average industry presence in the wider area offering local employment yet with not a large negative impact on local amenity, provides good demand and price growth.

Instant Property Valuation

Armidale, a city that is roughly equidistant from Sydney and Brisbane, is the administrative centre of the Northern Tablelands of New South Wales. It lies on the banks of the Dumaresq creek, at the intersection of the New England highway and Waterfall Way. First settled by Europeans in the 1830s, and officially founded as Armidale in 1839, the town was named for the homonymic Armadale, a region on the Scottish Isle of Skye. The Armidale post office opened in 1843, leading to its subsequent officiation as a municipality in 1863 and proclamation as a city in 1885. Armidale contains a number of places of worship, and is a major hub for retail in the region, with 3 shopping malls being built in recent years.

Armidale is also the site of the University of New England, which initially existed only as a subsidiary college of the University of Sydney, but was established as an institution in its own right in 1954. The university draws in many students studying disciplines relating to agriculture, and as of 2008 offers medical doctorate programs. The presence of the university, coupled with the convenient location of the city and the commercial aspects of the city make it a convenient, exciting place to own property full of culture and diversity.

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