ARMIDALE, 2350 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.
Investors saw the median home price rise to $350,000.
Profits due to an upward trend in home prices in the suburb averaged 0.64% per annum over a 3-year period.
ARMIDALE now ranks at the 912th place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in ARMIDALE are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $350 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In ARMIDALE, homes and units usually stay on listing for an average of 117.3 days.
In 2016, 434 properties were sold in ARMIDALE during the past year, making it the 450th most active market in NSW based on total real estate transactions.
ARMIDALE ranks 381st in NSW when it comes to estimated capital gains experienced by property investors over the past three years.
ARMIDALE, 2350 has a capital gain of 4.17% for the past year, which is higher than average compared to its 20.77% growth within a five-year period.
With the median home price in ARMIDALE sitting at $250,000, and the average rent at $270, property owners could potentially earn a 5.62% increase in gross rental yield.
Property investors have seen a 6.72% gain in ARMIDALE based on an increase in median home prices for the past three months.
A survey of average capital gains or median home price increase in suburbs across the country shows that ARMIDALE, 2350 obtained a 2.1% growth over a ten-year period. It ranks 1172nd on our list of suburbs that property investors should look into.