PRD Gundagai Market Update 1st Half 2025 by PRD Real Estate

Gundagai Market Update 1st Half 2025

In Q4 2024, Gundagai* recorded a median house price of $472,500 and a median vacant land price of $262,500 This is a 12 months (Q4 2023- Q4 2024)growth of 2.2% for houses and softening of-12.5% for vacantland. Comparing Q4 2023and Q4 2024,total sales increased by 25.0%(to 15 sales) for houses, however fell by -12.5% (to 3 sales) for vacantland. There is an undersupplied house market in Gundagai*, creating a buffer against higher interest rates. Median house price also increased in the past 6 months toQ4 2024, by 4.5%. Without any new residential projects planned in recent years, house prices are likely to further increase.

CHANGE FROM LAST

Gundagai£ will see approximately $754.0Mofnewprojectscommencing from2023-2026

YEAR HALF YEAR

HOUSE SALES

HOUSE MEDIAN PRICE

HOUSE RENTAL PRICE

LAND SALES

LAND MEDIAN PRICE

MEDIAN PRICE Q4 2024

$472K $262K

MEDIAN PRICE Q4 2024

AVERAGE DAYS ON MARKET Q4 2024

Clara Energy Project Rosedale –Project Rosedale Hydrogen Facility ($600.0M).This project will deliver renewable energy from both solar and hydrogen to the CootamundraGundagai Region, ensuring long term economic benefits to the area.

The largest infrastructure project in Gundagai from 2023-2026is the Australian Inland Rail Expressway Illabo to Stockinbingal to Parkes ($100.0M). This key state development will add 27 kilometres of single track from Illabo to Stockinbingal. This development will help to grow and improve connections between the Greater Cootamundra-Gundagai area and others.

The Dog on the TuckerboxGundagai is the only Mixed-Use Development Stages 1A, 1B and 1C ($4.6M). This development will add cafes, shops and playgrounds which improves liveability for local residents There is an absence in residential projects since 2023,and at present, none for 2025and 2026. This means there are no new stand-alone readyto-sell stock coming to market, or land lots fordevelopments. Thus,the undersupply will continue, which will push up property prices even further.

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 first asking price of a property.

Average vendor discounts between Q4 2023and Q4 2024 have slightly tightened to -5.3% for houses, where a -5.5% average vendor discount seem to be the norm in 2023and 2004. Vacantland average vendor discount significantly tightened from -10.1% to -4.9% at the same time. Market conditions in Gundagai* still favourbuyers, however land buyers must act fast, to secure the current discount.

The suburb of Gundagai has been on par with the wider Cootamundra-Gundagai Local Government Area (LGA) in house prices, with this trend continuing through out 2024. Vacant land in Gundagai has returned to sit slightly below the LGA in 2024,after outperforming it in 2022and 2023.

Most of the homes sold in Gundagai* across 2024were in the most affordable price bracket of $399,999and below (32.1%), in what is good news for first home buyers. That said 30.4%of houses were sold in the premium price point of $550,000and above, which benefits investors. Vacant land had most properties sold in 2024between $100,000 and $199,999(46.2%), which is the more affordable price bracket. There are opportunities for everyone looking to buy or sell both house and vacantland in Gundagai*. The market comparison graph provides a trend for median price of houses and vacantland in the past 5years. The main LGA chosen was based on their proximity to the main suburb analysed, which is Gundagai (2722).

MARKET COMPARISON

Gundagai (2722) House Cootamundra-Gundagai LGA House Gundagai (2722) Vacant Land Cootamundra-Gundagai LGA Vacant Land

PRICE

BREAKDOWN 2024

than $99,999

$100,000 to $199,999

$200,000 to $299,999

$300,000 to $399,999

$400,000 and above

RENTAL GROWTH 2025€

House rental yields in Gundagai¥ was 3.4%as of December 2024,below CootamundraGundagai LGA (4.5%) butabove Sydney Metro (2.7%). The median house rental price remained stable in the past 12months toQ4 2024, at $440per week. That said, this represents a growth of 10.0% in the past 6-months. During this time the number of houses rented decreased by30.0%(to 7 houses). This indicates a stable rental market in Gundagai ¥, benefiting investors.

3-bedroom houses have provided investors with 4.8%rental growth annually, achieving a median rent of $440per week.

Gundagai¥ recorded a vacancyrate of 0.4%in December 2024,well below the CootamundraGundagai LGA average of 1.4% and Sydney Metro’s 2.1%. Vacancy rates have decreased rapidly in the past 12months after hitting a peak of in 4.8%April 2024, which is a significant tightening in the rental market. Furthermore, a 0.4% vacancy rate is well below the Real Estate Institution of Australia’s healthy benchmark of 3.0%, indicating quicker occupancy of rental properties in Gundagai¥. This creates a conducive and sustainable environment for investors.

RENTAL VACANCY RATES 2025

Gundagai (2722) Cootamundra-Gundagai

Gundagai (2722)¥

PROJECT DEVELOPMENT MAP 2025 ₳

GUNDAGAI

RESEARCH SERVICES

Our research services span over every suburb, LGA,and state within Australia; captured in a variety of standard and customised products, andinclude:

• Advisory and consultancy

• Market analysis including profiling and trends

• Primary qualitative and quantitative research

• Demographic and target market analysis

• Geographic information mapping

• Project analysis including product and pricing recommendations

• Rental and investment return analysis

OUR KNOWLEDGE

Access to accurate and objective research is the foundation of all good property decisions.

OUR PEOPLE

Our research team is made up of highly qualified researchers who focus solely on propertyanalysis.

REFERENCES

* Gundagai sales market data and key indicators encapsulates aggregate property market conditions within the postcode of 2722.

** 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.

¥ Gundagai rental market data encapsulates aggregate property conditions within the postcode of 4220.

§ 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 Cootamundra-Gundagai Local Government Area (LGA).

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.