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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%.

REAL ESTATE AGENTS

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TESTIMONIAL

After completing her primary and secondary school education in Armidale, Kylie Mitchell moved to Brisbane to study building design and worked in the industry focusing on residential housing.

"I had always been very interested in housing design and had already renovated my first home before moving into the building and design industry", says Kylie. "I worked for 5 years with a design company, working my way up to office manager and then lead designer. In that time, I achieved, in co-operation with my employer, 2 design awards", adds Kylie.

"I decided to return to Armidale for a number of reasons. Firstly, to be closer to family. Secondly, I had watched with interest how the property market was developing in Armidale and realised that there could be opportunities for people with my skills and experience. Thirdly, while we had enjoyed the inner city lifestyle, my family and I were ready for the relaxed lifestyle that Armidale had to offer".

Kylie Mitchell Design offers design services for home extensions, renovations and new home design. I consult closely with clients about their individual needs and lifestyle. I also off...