Tumut Market Update 1 st H a l f 2 0 2 5
FUTURE DEVELOPMENTS
OVERVIEW
In Q4 2024, Tumut* recorded a median house price of $540,000 and a median land price of $192,500. This represents annual (Q4 2023 - Q4 2024) price growth of 27.8% for houses and 4.1% for land. Comparing Q4 2023 and Q4 2024, house sales surged exponentially, by 90.2% (to 78 sales in Q4 2024); whereas land sales declined by -37.5% (to only 5 sales in Q4 2024). This confirms there is a highly demanded housing market in Tumut*, and an undersupplied land market. Thus, now is an ideal time for owners to capitalise on their investment. Further, there is very little new housing stock planned in Tumut*; thus, buyers must act fast.
CHANGE FROM LAST
YEAR
Tumut£ plans to see approximately $544.4M of new projects commencing construction between2023 and 2026. Mixed-Use
Residential
Projects $5.3M
$3.2M
HALF YEAR
HOUSE SALE S Infrastructure
HOUSE ME DIAN PRICE
$535.9M
HOUSE RE NTAL PRICE
LAND SALE S
The Talbingo Battery Energy Storage System ($500M) is a key significant infrastructure development set to commence between 2023 and 2026. this project will stimulate the local economy through new job creation.
LAND ME DIAN PRICE
There are a number of infrastructure projects that will improve liveability (i.e roadworks, bridge, amenities, etc); which combined with more jobs can attract more people to live in Tumut.
$ MARKET CONDITIONS MEDIAN PRICE Q4 2024
$540K
$192K
MEDIAN PRICE Q4 2024
$440
SALES
AVERAGE DAYS ON MARKET Q4 2024
85
202
HOUSE
L A N D
RENTALS
$340
AVERAGE DAYS ON MARKET Q4 2024
23
13
HOUSE
U N I T
Two residential projects are planned between 2023 and 2026: •
Lot 9 Fitzroy Street (6 Dwellings)
•
140 Lambie Street (3 Units)
Whilst there is some new ready-to-go residential projects in the pipeline, the number of new units/dwellings is not enough to satisfy current demand. The reliance on available stock still remain, with an undersupply highly likely. This will put more pressure on prices, not just houses but all types.
6 3 Units/ Apartments
Dwellings