Tamworth Lifestyle Report 2024 Overview
Tamworth, and its surrounding areas, is rich in vast areas of rural acreage. This report encompasses land sales sized between >5 and <50 acres in Armidale, Tamworth, Gunnedah Shire, Uralla Shire, Liverpool Plains Shire, and Walcha local government areas (LGA). The number of acreage land sold has declined significantly in 2024, due to a shortage of available stock (i.e less turnover) and less rural land being rezoned into residential. There are land lots planned in most LGAs, but they are mostly smaller blocks (<1 acre) for inner/city housing, as opposed to acreage / rural.
$4,500,000
Land >5 Acres
Median Price
Sales Volume
250
$4,000,000 200
$3,500,000 $3,000,000
150
$2,500,000 $2,000,000
100
$1,500,000 $1,000,000
50
$500,000 -
$2020
2021
2022
2023
2020
2024#
2021
2022
2023
2024#
Historically, the median land price for properties with more than 5 acres has remained relatively stable in the past 5 years to 2024#, with some fluctuations in certain LGAs in 2023 (Walcha Council) and 2024# (Liverpool Shire), due to specific high-end large sales. The stability in median land price, alongside lesser number of sales is mostly due to current economic conditions and higher interest rates; which creates a rare opportunity for eager buyers.
Future LGA’s
Value ($)
Units/ Apartments
Armidale Regional Council
$3,110,654,284
Gunnedah Shire Council
Developments
Ready-to-Sell
Land Lots
Townhouses
Dwellings
3
0
19
146
$227,970,140
5
0
10
20
Liverpool Plains Shire Council
$44,520,390
0
0
0
0
Tamworth Regional Council
$3,313,112,108
33
0
120
1248
Uralla Shire Council
$2,024,913,349
0
0
0
0
Walcha Council
$15,968,888
0
0
0
0
Key Infrastructure Oven Mountain Pumped Hydro Energy Storage Project ($2.0B) Gunnedah East Bess ($120.0M) Chilcotts Creek Underbridge Replacement ($2.0M) Lambruk Solar Farm ($750.0M) Eastern Hub Firming Battery – Hillview Energy Hub ($1.6B) Walcha Council Bridge ($4.3M)
This group of councils is set to see approximately $8.7B of new projects commencing construction from 2023 onwards. With only a limited supply of new ready-to-go residential project, the property market in these LGAs can turn into an undersupplied market very quickly. This will result in median sale prices to increase even further, even with a higher interest rate. This is especially true for LGAs that do not have any new land lots planned, such as Liverpool Shire Council, Uralla Shire Council, and Walcha Council. 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 2024.