Armidale’s real estate market continues to perform well despite turmoil in international financial markets in the past decade. The median house sales price in Armidale has more than doubled in the past ten years and now sits well above $300,000. Price growth has steadied since the Global Financial Crisis but still has averaged over 2.9% per annum in recent years.
The recent level of development in Armidale has been quite spectacular with unprecedented economic expansion including: the construction of a $15 million legal precinct and Courthouse, the Centro Shopping Centre, a $60 million development anchored by Woolworths, Big W and 30 plus specialty stores, the refurbishment and rebranding of Kmart Plaza (now Armidale Plaza) a $50 million plus venture anchored by Kmart, Target Country and 50 specialty stores, a Bunning Warehouse opened in 2010 and the University of New England continues to upgrade and grow to meet the demands of the tertiary education sector. This is but a taste of what is happening and what is on the drawing board such as; the upgrade of the Armidale Airport, development and release of Industrial Land in the Airport precinct, release of new residential lands, completion of new nursing home and retirement village accommodation, development of affordable housing options, significant development in Agricultural Research and Teaching facilities and the completion of the new Wright College at UNE to name just a few. All this activity has caught the attention of many city changers and investors and has given significant underlying support to the real estate market.
The number of house sales in Armidale did decline to under 300 per annum after the Global Financial Crisis but has rebounded quickly above this benchmark in 2013-2014. Sales of both homes and units have been strong.
There is significant demand for rental accommodation in Armidale with the University of New England and the Education Sector seen as the key driver. This demand is set to continue with the growth in general population in Armidale and surrounding regional centres and on the back of growth in the education sector.
Blessed with a myriad of professional real estate agents who supply a variety of services all enquiries are easily catered for. Those agents with website links are listed on this page.