Wagga Wagga Market Update 1 st H a l f 2 0 2 5
FUTURE DEVELOPMENTS
OVERVIEW In Q1 2025, Wagga Wagga* had a median house price of $630,000 and a median unit price of $405,000, which represents an annual (Q1 2024 – Q1 2025) price growth of 5.0% for houses and 10.4% for units. Comparing Q1 2024 and Q1 2025, total sales increased by 17.0% (to 330 sales in Q1 2025) for houses and 8.6% (to 38 sales in Q1 2025) for units. This confirms a highly demanded market, creating a buffer against higher interest rates and stimulating price growth. Units saw a higher price growth than houses, due to buyers switching their focus to units to secure a property. With very little new ready-to-sell stock planned, buyers must act fast.
CHANGE FROM LAST
YEAR
HALF YEAR
Wagga Wagga£ plans to see approx. $$515.7M of new projects commence construction in 2025. Mixed-Use Residential Projects $52.6M $64.8M Commercial $124.7M
HOUSE SALE S Infrastructure $250.1M
HOUSE ME DIAN PRICE
Industrial $23.5M
HOUSE RE NTAL PRICE A key infrastructure project planned in 2025 is the Tolland Renewal Project, a State Government initiative to build approximately 500x 1, 2, 3, bedroom new homes; with approx. 180 as social and affordable homes, homes for seniors and First Nations people, and 270 private lots for the public. This will also build community infrastructure and approx. 16,000sqm green space.
UNIT SALE S UNIT ME DIAN PRICE UNIT RE NTAL PRICE
$
Residential projects that will bring new stock into the private market include:
MARKET CONDITIONS MEDIAN PRICE Q1 2025
$630K
$405K
MEDIAN PRICE Q1 2025
$520
SALES
AVERAGE DAYS ON MARKET Q1 2025
81
93
HOUSE
U N I T
RENTALS
$390
•
71 Jumbuck Drive (119 lots)
•
119 Elizabeth Avenue (195 lots)
There are several other residential projects planned; however, they are either social housing or group homes. With little new ready-to-sell stock to enter the market, an undersupply is highly likely. This will push up property prices further, for all stock types.
AVERAGE DAYS ON MARKET Q1 2025
20
21
HOUSE
U N I T
108 Units/ Apartments
535 Dwellings
1,088 Lots