Kyneton Market Update 1st Half 2026
In Q4 2025, Kyneton* recorded a median house price of $840,000 and a median vacant land price of $350,000.This is an annual (Q4 2024- Q4 2025)price growth of 1.8%for houses, alongside a 41.9%surge in the number of houses sold (to 61 sales in Q4 2025). Median price for vacant land has declined by -13.0%, however the market is extremely small (9 sales in Q4 2025), thus, it is prone to price changes There is a highly demanded house market in Kyneton*, which combined with previously lower interest rates have stimulated price growth. Now is an ideal time for owners to transact and capitalise on their investments, especially with very limited new housing supply planned for construction in 2026.
CHANGE FROM LAST
Kyneton£ plans to see approximately $96.2Mofnewprojectscommencing constructionfrom2026onwards
YEAR HALF YEAR
HOUSE SALES
HOUSE MEDIAN PRICE
HOUSE RENTAL PRICE
LAND SALES
LAND MEDIAN PRICE
MEDIAN PRICE Q4 2025
$840K $350K
MEDIAN PRICE Q4 2025
AVERAGE DAYS ON MARKET Q4 2025
84
AVERAGE DAYS ON MARKET Q4 2025
A main mixed-use project from 2026 is the 67Simpson Street Embracia Aged Care Facility ($40.0M). The 2nd stage of this project delivers a 126-bed facility, along with offices and cafés.
Another key mixed-use project is at Edgecombe Road, delivering a childcare centre, indoor recreation facility, warehouse, and retail premises.
Combined with several other mixeduse projects, this will stimulate the local economy and create more jobs. This canhave a spill-over impact on real estate, though higher demand for housing stock.
Key residential projects include:
• 73Powlett Street (4 Dwellings)
There is only one residential project planned from 2026 onwards, delivering a total of just 4 dwellings. This will not be enough to answer demand, which suggests a potential undersupply of housing stock soon.This puts pressure on prices; thus, higher house prices are highly likely for the rest of 2026. 54
AVERAGE VENDOR DISCOUNT*
Average vendor discount reflects the average percentage difference between the first list price and final sold price. A lower percentage difference (closer to 0.0%) suggests that buyers are willing to purchase close to the first asking price of a property.
Average vendor discounts between Q4 2024 and Q4 2025 have tightened to-6.8% forhouses. Market conditions in Kyneton* still favours buyers, with owners willing to accept below the first listed price. A tighter vendor discount does suggest a slight shift towards sellers, due higher demand. With very few new houses planned, buyersneed to act fast
The suburb of Kyneton has historically provided a more affordable median house price thanthe wider Macedon Ranges Shire for the past 5 years, and an on-par vacant land median price. 2025 saw median house price in the suburb increase, bringing itcloser tothe LGA’s median. Meanwhile, vacantland prices is now more affordable.
The dominant proportion of homes sold in Kyneton* in 2025 were in the premium price point of above $1,000,000 (28.4%) for houses and in the middle-price bracket of $300,000to $399,999(32.0%) for vacant land.This benefits house owners looking to sell. Themost affordable price points also saw strong activity, with 24.9% of houses sold for less than $699,999and 8.0% of land sold for less than $500,000.This is good news for first home buyers Overall, there is a home for buyers with every budge in Kyneton*
$1,200,000
MARKET COMPARISON
Kyneton (3444) House
Kyneton (3444) Vacant Land
Macedon Ranges Shire House
Macedon Ranges Shire Vacant Land
price of houses and units over the past 5 years. The main LGA chosen was based on their proximity to the main suburb analysed, which is Kyneton.
PRICE BREAKDOWN 2025
to $999,999
Less than $199,999
$200,000 to $299,999
$300,000 to $399,999
$400,000 to $499,999
$500,000 and above
RENTAL GROWTH 2025€
House rental yield in Kyneton¥ was 2.9% as of December 2025, onpar with Melbourne Metro (3.0%). Median house rental price has remained relatively stable in the past 12months toQ4 2025,at$590 per week, along with a decline of -38.1% in the number of houses rented (to 13 rentals in Q4 2025). This suggests an undersupplied house rental market in Kyneton¥. This is beneficial forinvestors, especially those looking for a more affordable option toMelbourne.
2+ bedroom houses have provided investors with +23.7% rental growth annually, achieving a median rent of $470per week.
Kyneton¥ recorded a vacancy rate of 0.6% in December 2025,significantly below the Macedon Ranges Shire’s average of 4.3%and Melbourne Metro’s average of 2.0%. Vacancy rates have declined in the past 12months to December 2025,indicating an even tighter rental market. Further, a 0.6%vacancy rate is significantly below the Real Estate Institution of Australia’s healthy benchmark of 3.0%, thus quicker occupancy of rental homes in Kyneton¥. This is an ideal environment for investors, even with a higher house price (thus entry price) in Q4 2025
RENTAL VACANCY RATES 2025
Kyneton (3444) Macedon Ranges Shire Melbourne Metro REIA 'Healthy' Benchmark
RENTAL YIELD 2025§
¥
Kyneton
PROJECT DEVELOPMENT MAP 2026 ₳
KYNETON
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REFERENCES
* Kyneton sales market data and key indicators encapsulates aggregate property market conditions in the postcode of 3444.
** Estimated values are based on construction value provided by the relevant data authority and does not reflect commercial and/or re-sale value.
# 2025 encapsulates sales transactions for the full year 2025 (01/01/2025 – 31/12/2025).
€ Annual rental growth is a comparison between Q4 2024 (01/10/2024 – 31/12/2024) and Q4 2025 (01/10/2025 – 31/12/2025) house median rent figures.
¥ Kyneton rental market data encapsulates aggregate property conditions within the postcode of 3444.
§ Rental yields shown are as reported as of December 2025.
₳ Project development map showcases a sample of upcoming projects only, due to accuracy of addresses provided by the data provider for geocoding purposes.
£ Projects refers to the top developments within the suburb of Kyneton
µ Estimated value is the value of construction costs provided by relevant data authority, it does not reflect the project’s sale/commercial value.
ψ Commencement date quoted for each project is an approximate only, as provided by the relevant data authority, PRD does not hold any liability to the exact date.
Source: APM Pricefinder, Cordell Connect database, SQM Research, Esri ArcGIS.
Disclaimer: PRD does not give any warranty in relation to the accuracy of the information contained in this report. If you intend to rely upon the information contained herein, you must take note that the information, figures and projections have been provided by various sources and have not been verified by us. We have no belief one way or the other in relation to the accuracy of such information, figures and projections. PRD will not be liable for any loss or damage resulting from any statement, figure, calculation or any other information that you rely upon that is contained in the material.
Prepared by PRD Research. © All medians and volumes are calculated by PRD Research. Use with written permission only. All other responsibilities disclaimed. © Copyright PRD 2026.
