Tamworth Lifestyle Report 2024
Overview
Tamworth, and its surrounding areas, is rich in vast areas of rural acreage. This report encompasses land sales sized between >5 and <50acres in Armidale, Tamworth, Gunnedah Shire, Uralla Shire, Liverpool Plains Shire, and Walcha local government areas (LGA). The number of acreage land sold has declined significantly in 2024, due to a shortage of available stock (i.e less turnover) and less rural land being rezoned into residential. There are land lots planned in most LGAs, but they are mostly smaller blocks (<1acre) for inner/city housing, as opposed to acreage / rural
Land>5Acres
$4,500,000
$4,000,000
$3,500,000
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$$500,000
Historically, the median land price for properties with more than5 acres has remained relatively stable in the past 5 years to 2024#,with some fluctuations in certain LGAs in 2023(Walcha Council) and 2024#(Liverpool Shire), due to specific high-end large sales. The stability in median land price, alongside lesser number of sales is mostly due to current economic conditions and higher interest rates; which creates a rare opportunity foreager buyers.
Future Developments
This groupof
toincreaseevenfurther,evenwitha higherinterestrate.This is especially true forLGAs thatdo
have
suchasLiverpool Shire Council, Uralla Shire Council, andWalchaCouncil.
Sales Overview 2024
Tamworth embodies a vibrant rural lifestyle centered with a strong community spirit. Many residents enjoy the offering of larger land blocks, allowing for lifestyle choices such as smaller farms / green thumbs and/or horse ownership. Table 1, titled Recent Sales provides examples of Farm/Rural, Residences or VacantLand between >5 and <50acres in 2024# in each of the LGA. These sales are not exhaustive and were chosen due to its recent time frame and high sales price.
In 2024#, Tamworth LGA recorded 61sales between 5 acres and 50acres, which is a -45.5% decline between 2023and 2024#.Of the 61 sales in 2024# ,50.0%is a premium, with a final sale prices of $750,000and above. However, 36.1%was considered in the affordable market, sold at less than $599,999.We cansee similar trends in Armidale and Uralla LGA’s, with the premium market dominating. Liverpool plains recorded 20 sales and showed a different pattern, a balanced market with 42.9.0%in the affordable price range and 42.9% in the premium. Gunnedah LGA showed more affordability, with 60.0% of the market sold at this price range. Walcha LGA was the outlier, with a very small number of sales. Overall, with the lifestyle that rural living offers, there is a property for every budget in Tamworth and its surrounding areas.
Examples of Recent Sales in 2024
