Tumbarumba Market Update 1 st H a l f 2 0 2 5
OVERVIEW
In H2 2024 (i.e 2nd Half 2024) Tumbarumba* recorded a median house
price of $360,000 and a median vacant land price of $200,000. This represents annual (H2 2023 – H2 2024) growth of 10.8% for houses and 14.0% for land. Comparing H2 2023 and H2 2024, house sales decreased by -28.6% (to 64 sales in H2 2024). The land market in Tumbarumba* is small, with only 6 sales in H2 2024. There is an undersupply of houses in Tumbarumba*, which created a buffer against higher interest rates. Now is an ideal time for owners to capitalise on their investments. With no new housing stock planned; buyers must act fast to secure a home.
CHANGE FROM LAST
YEAR
FUTURE DEVELOPMENTS Tumbarumba£ will see approximately $3.3B of new projects commencing construction between 2021and 2026. Industrial
Infrastructure
$2.0M
$3.3M
HALF YEAR
HOUSE SALE S
Commercial $3.3B
HOUSE ME DIAN PRICE HOUSE RE NTAL PRICE
The largest project to commence is the HumeLink ($3.3B). This significant project is constructed by Transgrid and will involve the construction of a 550kV transmission line spanning approximately 365 kilometres, connecting the towns of Wagga Wagga, Bannaby and Maragle.
LAND SALE S LAND ME DIAN PRICE
$ MARKET CONDITIONS SALES
MEDIAN PRICE H2 2024
$360K
$200K
MEDIAN PRICE Q4 2024
$450
AVERAGE DAYS ON MARKET H2 2024
64
80
HOUSE
L A N D
RENTALS
N/A
AVERAGE DAYS ON MARKET Q4 2024
32
N/A
HOUSE
U N I T
This project will benefit regional NSW by creating 1,600 construction jobs and opportunities for a wide range of businesses, as well as emphasising community engagement within the region. The HumeLink will expand the Snowy Hydro Scheme and enable energy sharing in the eastern states. There are few infrastructure projects planned, focusing on improving a few bridges in the area. This will improve liveability for locals. Combined with commercial projects this can attract more people to live in Tumbarumba. There is an absence in residential projects commencing construction in Tumbarumba between 2021 and 2025. This means there are no new standalone ready-to-sell stock coming on to the market, or new land lots for development. This will cause a further undersupply in the market, pushing median house and land prices up.