Orange Market Update 1 st H a l f 2 0 2 5
FUTURE DEVELOPMENTS
OVERVIEW
In Q4 2024, Orange* recorded a median house price of $677,000 and a median unit price of $418,000. This represents an annual (Q4 2023 - Q4 2024) slight softening of -1.0% for houses and -18.2% for units. Comparing Q4 2023 and Q4 2024, sales surged by 34.8% (to 306 sales in Q4 2024) for houses and 13.0% (to 26 sales in Q4 2024) for units. Although there was a surge in demand, current economic conditions and higher interest rates have impacted the market. The slightly more affordable pricing creates an opportune time for buyers to enter the market. Although there is new ready-to-sell stock planned in 2025, these will take time to construct.
CHANGE FROM LAST
YEAR
Orange£ will see approximately $328.5M of new projects commencing construction in 2025.
Residential
$48.0M
HALF YEAR
$8.6M
Mixed-Use
HOUSE ME DIAN PRICE
Projects
$183.7M
HOUSE RE NTAL PRICE
Infrastructure
$6.8M
UNIT SALE S
Key residential & mixed-use projects to commence construction in Orange* and surrounding area in 2025 include:
UNIT ME DIAN PRICE
•
103 Prince Street Mixed Use (60 Apartments & 16 Townhouses)
•
20 Shiralee Road (14 Dwellings)
•
157 Lysterfield Road & Hawke Lane Residential Subdivision (151 Lots)
•
46 Shiralee Road & Dwellings & Residential Subdivision – Parkwood (19 Dwellings & 21 Lots)
UNIT RE NTAL PRICE
$ MARKET CONDITIONS MEDIAN PRICE Q4 2024
SALES
$418K
MEDIAN PRICE Q4 2024
$560
Industrial
$81.3M
HOUSE SALE S
$677K
Commercial
AVERAGE DAYS ON MARKET Q4 2024
76
81
HOUSE
U N I T
RENTALS
$440
Although there are several housing stock projects planned, these will take time to construct. Further, the number of new stand-alone houses is still not enough to satisfy demand. This can create an undersupply in the market and divert buyers to considering units. Combined this has the potential of stimulating a price recovery in Orange*.
AVERAGE DAYS ON MARKET Q4 2024
24
19
HOUSE
U N I T
63 Units/ Apartments
16 Townhouses
69 Dwellings
444 Lots