Find a Home Armidale
Armidale's real estate market continues to perform well despite the Global Financial Crisis and higher interest rates. In the last ten years ending June 2010, the average annual capital growth for residential real estate in Armidale has been 11.1% per annum.
The level of development in Armidale including the four shopping centres - Centro Armidale (Woolworths Supermarket & Big W), Armidale Plaza (Kmart & Country Target), Eastend Shopping Centre (Coles Supermarket) as well as the Armidale Mall and recent construction of the Bunnings Warehouse has caught the interest of many "city changers" and investors.
Housing is still very affordable in Armidale. The median price for residential real estate is $305,000. A mid market four bedroom home, with ensuite and double garage will range from $350,000 - $450,000.
Rural residential properties are highly sought after in Armidale. A four bedroom home on a 5 - 10 acre property with town water in close proximity to the Armidale CBD will range from $500,000 - $800,000.
The demand for rental accommodation is set to continue particularly with the growth in the general population of Armidale and number of students at the University of New England with initiatives such as the new Rural Medical School. Investment properties start from $185,000 with a gross return of between 5% - 6%.
More information. visit armidale.evoproperty.com.au
