Nagambie Market Update 1 st H a l f 2 0 2 5
0407 057 036 Matthew.Chilcott@prd.com.au
FUTURE DEVELOPMENTS
OVERVIEW
In Q1 2025, Nagambie* recorded a median house price of $645,000 and a median land price of $270,000. This represents an annual (Q1 2024 – Q1 2025) price growth of 5.3% for houses and 7.6% for land. Comparing Q1 2024 and Q1 2025, total sales increased by 5.3% for houses (to 20 sales in Q1 2025) and by 25.0% for land (to 10 sales in Q1 2025). There is a high demand for both property types, which created a buffer against higher interest rates. Vacant land experienced higher price and sales volume growth than houses, suggesting buyers are looking into more affordable options. With limited supply available, buyers must act fast.
CHANGE FROM LAST
YEAR
The Shire of Strathbogie plans to see approx. $84.9M of new projects due to commence construction in 2025. Residential $4.5M
HALF YEAR
Commercial $25.8M
HOUSE SALE S Mixed-Use
HOUSE ME DIAN PRICE
$43.5M
HOUSE RE NTAL PRICE
Infrastructure $11.2M
LAND SALE S
A main mixed-use project is Elloura On Lake Nagambie Development, which will add a vibrant commercial center including three restaurants over the water, boutique shops, a conference centre, a 100-bedroom hotel, and a chapel.
LAND ME DIAN PRICE
$
Residential projects planned include: •
38-44 Cowslip Street (6 Dwellings)
MARKET CONDITIONS
•
25-29 Racecourse Road Subdivision (23 Lots)
SALES
•
9 Kennedy Street (6 Dwellings)
MEDIAN PRICE Q1 2025
$645K
$270K
MEDIAN PRICE Q1 2025
$520
AVERAGE DAYS ON MARKET Q1 2025
153
203
HOUSE
L A N D
RENTALS
$390
Although there are a few dwellings to be delivered through these projects, it is still insufficient to meet the strong demand. Additionally, the land lots planned will require time to be built and developed. As a result, property prices for all stock types is expected to increase further in the short term.
AVERAGE DAYS ON MARKET Q1 2025
35
17
HOUSE
U N I T
5 Units/ Apartments
15 Dwellings
23 Lots