Derwent Valley Market Update 1 st H a l f 2 0 2 5
FUTURE DEVELOPMENTS
OVERVIEW
In Q4 2024, Derwent Valley* had a median house price of $555,000 and a median vacant land price of $247,000. This is an annual (Q4 2023 - Q4 2024) growth of 19.4% for houses and 26.7% for land. Comparing Q4 2023 and Q4 2024, total sales increased by 5.0% (to 42 sales) for houses and increased by 71.4% (to 12 sales) for land. This confirms a demanded market and an ideal time for owners to capitalise on their investments. Vacant land saw a higher price growth than houses, as buyers switched their focus to get a foot in the property market. With no new ready-tosell houses planned, buyers must act fast before further price growth.
CHANGE FROM LAST
YEAR
Derwent Valley£ will see approximately $89.8M of new projects commencing construction in 2025.
Residential $22.7M
HALF YEAR
HOUSE SALE S
Commercial $53.5M
HOUSE ME DIAN PRICE Mixed-Use Projects Industrial $11.2M $2.4M
HOUSE RE NTAL PRICE
A main commercial project is the Bronte-Brady Mini Hydro ($50.0M). This project will generate clean renewable energy from the flow of water from the Bronte Lagoon. This project will have a major economic boost to Derwent Valley region.
LAND SALE S LAND ME DIAN PRICE
Key residential projects include:
$
•
30 McLeod Street Centacare Evolve Housing Residential Subdivision (52 lots)
MARKET CONDITIONS
•
8 Station Street Units (7 Units)
SALES
•
5 Poulters Road Units (9 Units)
•
6 Fowler Court Units (4 Units)
•
11 Oakdale Road New Norfolk – Residential Subdivision (6 lots)
MEDIAN PRICE Q4 2024
$555K
$247K
MEDIAN PRICE Q4 2024
$482
AVERAGE DAYS ON MARKET Q4 2024
93
76
HOUSE
L A N D
RENTALS
$455
AVERAGE DAYS ON MARKET Q4 2024
21
23
HOUSE
U N I T
Although several residential projects are planned in Derwent Valley, they will only add new units/apartments and residential lots (which takes time to develop). With an absence in new stand-alone or ready-to-go houses in the 2025 pipeline, this will put more pressure on prices for all stock types.
20 Units/ Apartments
58 Lots