SALES
Commercial
In 2025#, which for this report captures sales data between 1st January – 30th June, there were 6 commercial sales. The median sales price was $3,321 per sqm in 2025#, a 2.9% increase in the past 12 months. Prices have more than tripled since 2021, highlighting strong opportunities for owners to capitalize on their investments.
The number of commercial sales has risen slightly from a five-year low of 5 in 2024, reflecting a modest recovery amid persistent undersupply. Sales remain well below the 2021 peak of 16 transactions, when activity was at its highest.
$3,321
6
$1,435
Median commercial sale price per sqm in Albury (2025#)
Total commercial property sales in Albury (2025#)
Median industrial sale price per sqm in Albury (2025#)
Total industrial property sales in Albury (2025#) 4
SALES
Industrial
Industrial activity was very low in the first 6 months of 2025, with only 4 recorded sales. The median price per sqm was $1,435, a significant decline compared to2024. That said in 2024 there were two transactions – 18 Cerese Drive Thurgoona ($6,201 per sqm) and 29 Ruby Court East Albury ($4,369 per sqm) in 2024; which drove up prices.
In comparison to 2023 prices, 2025# prices are on par; and have tripled since 2021 and 2022. Sales volumes has also declined significantly since 2021. Previously it was averaging 17 sales per annum between 2021 and 2024, now only 4 in the1st half of 2025. Only 9 industrial projects planned for the 2nd half 2025, which compared to 2023 and 2024 sales numbers suggest a potential undersupply.
Note: The numberswithin
INTRODUCTION
Located approximately 550km south-west of Sydney, the City of Albury is a local government area (LGA) in the Riverina region. It is a vibrant region that includes towns like Albury, Lavington, Thurgoona, and Hamilton Valley. Albury features a diverse economy including agriculture, retail industries, and manufacturing. That said, the commercial and industrial sales market have become very scarce in 2025# , recording only 6 and 4 sales transactions, respectively.
The following report focuses on these property types specifically, analysing sales and leasing activity since 2021 to June 2025. The entirety of 2025# is used for sales data, to provide a longterm view of the market (past 5 years). That said, quarterly data is used for leasing due to the nature of the rental market. This report analyses future development in 2024-2026, providing a holistic understanding of the commercial and industrial markets in Albury.
Median price per sqm
LEASING
Commercial
The median net lease rate for commercial property in Albury* was $250 per sqm in Q2 2025, reflecting a 36.7% increase in the past 6 months (Q4 2024, at $183 per sqm) and a 34.4% increase in the past 12 months (Q2 2024, $186 per sqm). Over the same period, leasing activity dropped to a historical low, with only 5 leases recorded in Q2 2025, representing a-44.4% decline. Furthermore, the average quarterly leasing volume over the past 18–24 months was 11 leases. This suggests a clear undersupply in the commercial leasing market and continued opportunities for investors.
$250
5
$110
4
Median commercial net lease rate per sqm in Albury (Q2 2025)
Number of quarterly commercial leases in Albury (Q2 2025)
Median industrial net lease rate per sqm in Albury (Q2 2025)
Number of quarterly industrial leases in Albury (Q2 2025)
Industrial
Albury’s* median net lease rate per sqm for industrial property was $110 per sqm as of Q2 2025. This is a relatively stable market compared to the previous quarter (Q1 2025, at $111 per sqm) and on a 12 months basis (Q2 2024, at $123 per sqm). Industrial leasing activity has declined, with only 4 leases recorded in Q2 2025. This is half the number of leases in the past 12 months (8 in Q2 2024), reflecting cautious business sentiment in the small-scale industrial market
The number of industrial leases in Albury* has remained relatively stable in the past 24 months, on average sitting at 5-6 leases. That said, the median lease price have also remained relatively stable at $100-$120 per sqm, which suggests an overall resilient industrial leasing market.
LEASE BREAKDOWN
Looking at the first 6 months of 2025, a small proportion, representing 30% of commercial leases, were taken on a Nett basis (based on 12 known leases). This is a reversal trend, as most leases were taken on Gross in the past 24 months.
The dominant lease type in Albury’s* industrial market is the opposite trend to the commercial market, with 54% of leases being adhered to on a Nett basis (based on 11 known leases).
The average days to let a leasing space declined in the 12 months to Q2 2025, falling significantly by -29.2% for commercial properties (to 46 days) and slightly by -2.1% for industrial properties (to 47 days). This confirms a highly-demanded leasing market, particularly in the commercial sector.
RECENT SALES (Sample Only)
RECENT LEASES (Sample Only)
PROJECT DEVELOPMENT
2024-2026 OVERVIEW
Albury* will benefit from an estimated $1.33B of planned projects commencing construction in 2024-2026. 170 major projects are proceeding, which is 99.0% of the original pipeline. This is a significant percentage, considering the current construction challenges. Most are infrastructure projects, which improves liveability for residents and can attract more people to live in the area.
2nd HALF 2025 OVERVIEW
A mixed-use project in the 2nd half 2025 is 606 & 606B Dean Street Apartments & Commercial ($5.3M), which will deliver a five-storey building with 10 apartments (1, 2 and 4 bedrooms) and commercial space on the ground floor
Examples of key residential projects include Hilltops By Birchmore Estate Subdivision Works ($8.9M, 198 Lots) and 513 Wagga Road ($1.4M, 4 dwellings), the only project building stand-alone houses. With 95% of projects supplying land lots, demand for ready –to-sell housing stock remains unmet in Albury*.
Projects
There is a shift in development focus from infrastructure ($183.4M) in 2024 to mixed-use projects ($64.1M) in 2025. These projects enhance services, create jobs, and attract more residents; ultimately driving stronger housing demand. Residential projects were the smallest segment in both value and number in 2024, but the sector recorded strong growth in 2025;rising from 4 to 10 projects ($28.6M). However, as most of these projects will deliver land lots that require time to develop, the lack of ready-to-sell stock persiststhus placing more pressure on property prices.
Proceeding Projects: Estimated Value
In the 2nd half of 2025, 14 commercial projects are planned, including the Hume Country Retirement Resort Stages 6 & 7 ($1.5M) and 520-524 Smollett Street & Selle Lane Commercial Building ($1.4M). Key infrastructure projects include Albury Animal Centre Redevelopment ($4.5M), as well as 7 others, all of which are aimed at improving connectivity for businesses and improve quality of life.
9 industrial projects are planned in the 2nd half of 2025 including 200-208 North Street Warehouses Stages 1 & 2 ($6.9M) and 34 Mclaurin Road Building ($2.9M). These aim to answer some of the current undersupply; particularly in the leasing market.
Proceeding Projects: Project Count
2nd Half 2025 Proceeding
TOP PROJECT DEVELOPMENT MAP 2024 - 2026*
TOP PROJECT DEVELOPMENT MAP 2nd HALF 2025*
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