Investors looking for promising real estate opportunities should turn their attention to the New England region, which has recently seen significant increases in property values that offer exciting investment potential. The latest CoreLogic data highlights a flourishing property market in the areas surrounding Tamworth, Armidale and Gunnedah and gives insights into strategic investment opportunities.
New England real estate landscape
The real estate market in New England presents a diverse array of investment prospects, from charming towns to thriving cities, which may excite investors seeking long-term appreciation and reliable rental income.
Top growth suburbs in the housing market
In these locales, remarkable growth in both housing and unit values has been propelled by ongoing investment in community development, facilities and upskilling, rendering them attractive investment prospects for astute investors. On the outskirts of Tamworth, Kootingal’s thriving agricultural economy has produced a 10.6% increase in median housing value, now $499,157. Similar economic conditions in nearby Moore Creek resulted in median housing values increasing by 9.7%, to $766,518. The town of Gunnedah, known for its scenic rural beauty, achieved an 11.9% increase in median housing value, which reached $419,729 last year.
| Suburb |
Increase in value |
Median value |
| Kootingal |
10.6% |
$499,157 |
| Moore Creek |
9.7% |
$766,518 |
| Gunnedah |
11.9% |
$419,729 |
Top growth suburbs in the rental market
The thriving rental market in New England offers an additional avenue for investors seeking steady rental yields. Kootingal, situated in the Tamworth Regional Council area, experienced economic prosperity last year. An increase in rental value of 2% saw median weekly rents reaching $446. To the West, Moore Creek’s rental market saw similar increases in value to the housing market, with median weekly rents increasing 3.3%, to $492. Gunnedah witnessed growth in its rental market in addition to housing growth: median weekly rent increased by 1.4% to $458.
| Suburb |
Increase in value |
Median value |
| Kootingal |
2% |
$446 |
| Moore Creek |
3.3% |
$492 |
| Gunnedah |
1.4% |
$458 |
Sources:
- https://www.corelogic.com.au/__data/assets/pdf_file/0029/19955/CoreLogic-HVI-Dec-2023-UPDATED.pdf
- https://www.corelogic.com.au/__data/assets/pdf_file/0018/20349/2312-CoreLogic-2023-BestoftheBest-Report.pdf
- https://www.corelogic.com.au/our-data/mapping-market