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Armidale's real estate market continues to perform well despite the market downturn in Sydney and higher interest rates. In the last ten years ending 2007, the average annual capital growth for residential real estate in Armidale has been 9.1% 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 Beardy Street Mall has caught the interest of many treechangers and investors.

Housing is still very affordable in Armidale. The median price for residential real estate is $275,000. 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 - $750,000.

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 $175,000 with a gross return of between 5% - 6%.

REAL ESTATE AGENTS

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TESTIMONIAL

From Garage to Global Glory in Armidale! Starting as a small florist in Armidale in 1992, Petals has become one of the leading international florist exchange hubs, relaying orders for flowers across the world to over 70 countries through its international websites.

Petals have won many awards, some of which include Small Business of the Year, Best Supply Chain Award, NSW Regional Exporter of the Year and BRW Top 100 Fastest Growing Australian Businesses.

Petals utilises clearing-house technologies, conducts transactions in seven currencies and uses the services of 27,000 florists throughout the world. To better serve the global market, it operates three shifts with a total of 22 employees.

"We're not setting out to be the biggest but we are setting out to be the best," says Chief Executive Scott Williams. "The best to us means fast order processing, simple systems and profitability for our florists and for us. We're convinced that that if we concentrate on being "better", the "bigger" will look after itself,"

"We chose Armidale because of lower business costs but we also found that we had very low employee...