Armidale's median house price reached historic highs in January, a trend which could have gone either way.
A new CoreLogic report examined the housing market trends seen across 91 inland centres over the course of 12 months.
Out of those centres, 32 regions experienced their highest median house price growth, while the remaining 41 sat at least at 10 per cent below their historic peaks.
The Tamworth median house price peaked in January 2021, with a 8.4 percent growth in 12 months to sit at $323,899.
Armidale's grew even further with 12.4 per cent to $350,347, and also peaked in January this year.
The median price in Inverell hit $243, 274 at a growth rate of 6.2 per cent, peaking at the same time as its other two neighbours in the New England North West.
However, these towns didn't make the top list for the highest amount of growth across 91 inland council areas examined across the country.
Thirteen of the twenty largest rural inland population centres had values tracking at record highs in January 2021, most of which came from NSW and Victoria.
Moree Plains, Walcha and Liverpool Plains made that list.
Liverpool Plains soared by 12 per cent, while Walcha saw an impressive growth of 22.3 per cent.
Moree Plains, on the other hand, saw an increase in the housing market by 16.9 per cent over the year, however this is a far cry from its historic peak.
Even with its growth, it was still just over 15 per cent lower than the historic peak in August 2011.
CoreLogic's Executive Director of Research, Tim Lawless, said regional housing values rose at more than four times the pace than capital city markets over the 12 months to January.
"Such sheer affordability is likely to be an attraction for some buyers," he said.
"However prospective city folk interested in relocating to the rural areas of Australia might be better off 'testing the waters' by renting before buying... just to make sure the rural lifestyle is really their cup of tea."
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