Bungendore Market Update 1 st H a l f 2 0 2 5
FUTURE DEVELOPMENTS
OVERVIEW
In Q4 2024, Bungendore* recorded a median house price of $1,077,500 and a median vacant land price of $429,000. This represents annual (Q4 2023 - Q4 2024) price growth of 6.4% for houses and a softening of -24.4% for vacant land. Comparing Q4 2023 and Q4 2024, total sales surged by 23.8% (to 26 sales in Q4 2024) for houses and declined significantly to only 4 sales (in Q4 2024) for vacant land. The Bungendore* house market has become a highly demanded market, which created a buffer against higher interest rates (hence price growth). Thus, now is an ideal time for house owners to capitalise on their investments. With very little-ready-to go stock in the 2025 project pipeline, buyers must act quickly.
CHANGE FROM LAST
YEAR
Bungendore£ will see approximately $35.2M of new projects commencing construction between2022and 2026.
HALF YEAR
Residential $17.4M
HOUSE SALE S
Commercial $8.0M
Infrastructure $8.2M
HOUSE ME DIAN PRICE
Mixed-Use Projects $339.0K
HOUSE RE NTAL PRICE
LAND SALE S
Residential projects due to commence construction in Bungendore between 2022 and 2026 include:
LAND ME DIAN PRICE
•
Elm Grove Estate (260 Residential Land Lots)
•
73 Ellendon Street Units (14 Units)
$ MARKET CONDITIONS MEDIAN PRICE Q4 2024
$1.0M
Industrial $1.2M
SALES
$427K
MEDIAN PRICE Q4 2024
AVERAGE DAYS ON MARKET Q4 2024
90
159
HOUSE
L A N D
RENTALS
The Bungendore Sport Hub is a main infrastructure project planned, which is a local government initiative. This will include constructing a recreational area, amenities block, and pathways. Along with several other infrastructure projects this will improve liveability for current Bungendore residents.
With a limited number of ready-to-go stock planned, Bungendore's housing market is likely to be undersupplied in the immediate/short term. This will push up prices, not only for houses but also other stock types, as buyers look for alternatives in the market.
AVERAGE DAYS ON MARKET Q4 2024
1 Dwelling
$730
$595
25
55
HOUSE
U N I T
14 Units/ Apartments
260 Lots