New South Wales
Armidale
Nominated by Linda Johnson, Adrian Knowles, Simon Pressley
Armidale, in northern NSW, is the only other suburb to have been nominated by three experts.
Armidale was nominated by three experts in the realestate.com.au Hot 100. Picture: Getty
With a population of almost 24,000, the thriving inland city boasts industries such as agriculture, education, renewable energy, and tourism.
Armidale is also popular for its good arterial connections, according to Real Estate Buyer’s Agents Association of Australia (REBAA) NSW representative Linda Johnson.
“Armidale sits itself almost right in between Sydney and Brisbane. It’s kind of like a centre point,” she said.
Armidale, with a median house price of $489,500, is also a major education hub, with the University of New England, associated research centre and an emerging IT industry.
“There’s a lot of things going for it if you’re wanting a tree change, it’s quite a diverse style of living and very community oriented,” Ms Johnson said.
“It’s quite undulating and a really pretty town. There’s a lot of horse riding, getting amongst nature, bush walks, hiking. If you rather the bush as opposed to the beach, it offers a lot of those lifestyle choices.”
Laing & Simmons Armidale director Lachie Sewell told realestate.com.au attractive rental yields have always been well supported by the university population, and currently sit around 5% or 5.5%.
But most recently, renewable energy projects and the promise of future jobs are expected to lift housing demand, he said.
A local council push to boost the population and lure industry to the area is also tipped to fuel interest.
“Obviously supply and demand creates many booms inside of the market,” Mr Sewell said.
The other NSW suburbs nominated by multiple experts were Glenmore Park and Mayfield.
Ms Johnson said Mayfield, on the Newcastle city fringe, is evolving from an old industrial area to a hip and trendy suburb coveted by renovators.
“Architects are getting hold of a lot of the old industrial buildings and redeveloping them into beautiful homes,” she says.
“Little supermarkets are also popping up, little trendy cafes and bakeries, playgrounds, dog parks. It’s becoming its own real little community.
Mayfield on the Newcastle city fringe has been gentrifying rapidly with old weatherboard homes getting a new lease on life.
“It reminds me very much of how the inner west of Sydney transformed, Mayfield’s taking on that same sort of journey.”
Redevelopment is also being spurred thanks to easy road connections to Sydney, and location near the beach.
Mayfield has a median house price of $835,000 and rental demand is “huge” as people are priced out of nearby cities, Linda says.
In addition, new housing and infrastructure developments bode well for future growth and economic potential.
The suburb is also “active” with markets and community events, adding another drawcard, Ms Johnson said.