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Albury Market Update 1st Half 2025

In Q4 2024, Albury* recorded a median house price of $602,000and a median vacant land price of $255,000.This represents stable median price growth for houses in the past 12months toQ4 2024, and a slight softening of -1.9% for vacantland. Comparing Q4 2023and Q4 2024, house sales remained relatively stable, at 296 sales, but land sales declined significantly by -27.1% (to 35 sales). There is a tightly held house market in Albury*, and the temporary stable price growth creates a window of opportunity for first-home buyers. That said, most of the planned supply in 2025is vacantland, requiring time for construction. Thus,buyers need to actfast before further price growth occurs.

YEAR HALF YEAR CHANGE FROM LAST

Albury£ will see approximately$922.8M ofnewprojectscommencingin2025

HOUSE SALES

HOUSE MEDIAN PRICE

HOUSE RENTAL PRICE

LAND SALES

LAND MEDIAN PRICE

MEDIAN PRICE Q4 2024

$602K $255K

MEDIAN PRICE Q4 2024

AVERAGE DAYS ON MARKET Q4 2024

A key infrastructure project is Albury Wodonga Regional Hospital Stages 1-3. An initiative from the NSWState Government, this will build a new 7 storey Clinical Services Building.

Residential projects include:

• 481-487 Swift Street mixed-use development (32 apartments)

• 710Riverina Highway & Knoble Rd Subdivision (198 lots)

• Kensington Gardens Thurgoona Stage 10(22 dwellings).

Although there are several mixeduse and residential projects in the pipeline, the number of ready-tosell stock planned is still notenough to answer demand. An undersupply will continue to exist, which will push up prices for all stock types.

AVERAGE VENDOR DISCOUNT*

Average vendor discount reflects the average percentage difference between the first list price and final sold price. A lower percentage difference (closer to 0.0%) suggests that buyers are willing to purchase close to the

Average vendor discounts between Q4 2023and Q4 2024 have tightened to -2.7% for houses and -2.9% for lands. Market conditions in Albury* still favourbuyers, as sellers are willing to accept below the listed prices. However, a tighter discount indicates that the market is shifting to becoming a seller’s market, thus, buyers must actquickly.

The suburb of Albury has outperformed the wider Albury LGA in house and vacantland median prices for the past 5 years. This continued to be the case in 2024,even with slower price growth for both house and land median prices, in both the suburb and wider LGA.

Most of the homes sold in Albury* across 2024were in the more affordable price brackets, of less than$449,999 (27.8%).This indicates anopportunity for first-time buyers. Thatsaid, the premium price bracket also showed a high number of sales, with 21.7% of houses sold above $750K. Overall, there is a home for buyers regardless of budget. Land sales showed a different pattern, with most sales (30.9%) sitting in the premium price bracket of over $350K. Thatsaid there are still some vacant lands available in the more affordable price brackets, in good news for buyers.

MARKET COMPARISON

PRICE BREAKDOWN 2024

than $199,999

$200,000 to $249,999

$250,000 to $299,999

$300,000 to $349,999 $350,000 and above

RENTAL GROWTH 2025€

House rental yields in Albury¥ was 4.0% as of December 2024, higher than Sydney Metro (2.7%). This is paired with a 5.8% growth in median house rental price in the past 12months to Q4 2024, to $550per week, and a significant -50.0% drop (to only 16 rentals) in the number of houses rented. The unit market showed the same pattern of higher rent and less units rented. There is an undersupplied rental market in Albury¥, which is beneficial toinvestors.

3-bedroom houses have provided investors with +14.6%rental growth annually, achieving a median rent of $550per week.

Albury¥ recorded a vacancy rate of 0.9%in December 2024, significantly below Sydney Metro’s 2.1%. Vacancy rates have decreased in the past 12months, indicating an even tighter rental market. Furthermore, a 0.9%vacancy rate is well below the Real Estate Institution of Australia’s healthy benchmark of 3.0%, indicating a tight rental demand and quicker occupancy of rental properties. This suggests a sustainable investment environment. With a more affordable entry price compared to Sydney Metro, Albury¥ is an attractive investment alternative for investors.

RENTAL VACANCY RATES 2025

(2640)

PROJECT DEVELOPMENT MAP 2025 ₳

ALBURY

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REFERENCES

* Albury sales market data and key indicators encapsulates aggregate property market conditions within the postcodes of 2640 and 2641.

** Estimated values are based on construction value provided by the relevant data authority and does not reflect commercial and/or re-sale value.

# 2024 encapsulates sales transactions for the 2024 full year (01/01/2024 – 31/12/2024).

€ Annual rental growth is a comparison between Q4 2023 (01/10/2023 – 31/12/2023)and Q4 2024 (01/10/2024 – 31/12/2024) house median rent figures.

¥ Albury rental market data encapsulates aggregate property conditions within the postcode of 2640.

§ Rental yields shown are as reported as of December 2024.

₳ Project development map showcases a sample of upcoming projects only, due to accuracy of addresses provided by the data provider for geocoding purposes.

£ Projects refers to the top developments within the postcodes of 2640 and 2641.

µ Estimated value is the value of construction costs provided by relevant data authority, it does not reflect the project’s sale/commercial value.

ψ Commencement date quoted for each project is an approximate only, as provided by the relevant data authority, PRD does not hold any liability to the exact date.

Source: APM Pricefinder, Cordell Connect database, SQM Research, Esri ArcGIS.

Disclaimer: 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.