Tumbarumba Market Update 1st Half 2025
In H2 2024(i.e 2nd Half 2024) Tumbarumba* recorded a median house price of $360,000 and a median vacantland price of $200,000.This represents annual (H2 2023 – H22024) growth of 10.8%for houses and 14.0%for land. Comparing H2 2023and H22024, house sales decreased by -28.6%(to 64 sales in H2 2024). The land market in Tumbarumba* is small, with only 6 sales in H2 2024. There is an undersupply of houses in Tumbarumba*, which created a buffer against higher interest rates Now is an ideal time for owners to capitalise ontheir investments. With no new housing stock planned; buyers must act fast tosecure a home.
CHANGE FROM LAST
Tumbarumba£ will see approximately $3.3Bofnewprojectscommencing constructionbetween2021and2026.
YEAR HALF YEAR
HOUSE SALES
HOUSE MEDIAN PRICE
HOUSE RENTAL PRICE
LAND SALES
LAND MEDIAN PRICE
MEDIAN PRICE H2 2024
$360K $200K
MEDIAN PRICE Q4 2024
AVERAGE DAYS ON MARKET H2 2024
64
AVERAGE DAYS ON MARKET Q4 2024
The largest project to commence is the HumeLink ($3.3B). This significant project is constructed by Transgrid and will involve the construction of a 550kV transmission line spanning approximately 365 kilometres, connecting the towns of Wagga Wagga, Bannaby and Maragle
This project will benefit regional NSW by creating 1,600construction jobs and opportunities fora wide range of businesses, as well as emphasising community engagement within the region. The HumeLink will expand the Snowy Hydro Scheme and enable energy sharing in the eastern states.
There are few infrastructure projects planned, focusing onimproving a few bridges in the area. This will improve liveability for locals. Combined with commercial projects this can attract more people to live in Tumbarumba.
There is an absence in residential projects commencing construction in Tumbarumba between 2021and 2025. This means there are no new standalone ready-to-sell stock coming on to the market, or new land lots for development. This will cause a further undersupply in the market, pushing median house and land prices up.
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 house vendor discounts between H2 2023and H2 2024have widened to a higher discount of -5.7%. This indicates that despite a higher median price, the market in Tumbarumba still favourbuyers. Despite this, with no new stock coming on to market, this level of discounting may notbe the case for muchlonger. Thus, buyers should act quickly to secure their home.
The suburb of Tumbarumba has historically provided a more affordable house and vacant land market thanthe wider Snowy Valley Local Government Area (LGA), This trend has continued through 2024,with the significant price increase in vacantland prices closing the price gap between the suburb and LGA.
Most of the homes in Tumbarumba* across 2024were sold in the medium price bracket of $300,000to$399,999 (46.2%). Thatsaid, the premium market of $500,000and above recorded 30.8%of homes sold in this price range. This indicates there is a home forevery budget. Most of the vacantland sales in Tumbarumba* were in the premium price bracket of $250,000and above (44.4%), with some affordable options still available (22.2%).
MARKET COMPARISON
Tumbarumba House
Snowy Valleys LGA House Tumbarumba Land Snowy Valleys LGA Land
The market comparison graph provides a comparative trend for median price of houses and units over the past 5 years. The main LGA chosen was based on their proximity to the main suburb analysed, which is Tumbarumba.
PRICE BREAKDOWN 2024
RENTAL GROWTH 2025€
House rental yields in Tumbarumba¥ was 4.0%as of December 2024,on par with the Snowy Valley LGA (4.0%) and higher than Sydney Metro (2.7%). Further, the median house rental price increased by 19.0% in the past 12 months to Q4 2024, at $450per week. In the same timeframe the number of houses rented also increased, to 5rentals in Q4 2024. This indicates there is a highly demanded rental market in Tumbarumba¥, which benefits investors.
4+ bedroom houses have provided investors with +6.7% rental growth annually, achieving a median rent of $480per week.
Tumbarumba¥ recorded a vacancy rate of 1.0%in December 2024, below the Snowy Valley LGA average of 1.8% and Sydney Metro’s 2.1%. Vacancy rates in Tumbarumba¥ have fluctuated in the past 12months due to the small size of its rental market, but as anoverall increased in the past quarter from September 2024. That said, a 1.0% vacancy rate is significantly below the Real Estate Institution of Australia’s healthy benchmark of 3.0%, which suggest quicker occupancy of rental properties in Tumbarumba¥ This is conducive for investors looking to enter the market.
RENTAL VACANCY RATES 2025
Tumbarumba (2653)
Tumbarumba (2653)¥
PROJECT DEVELOPMENT MAP 2025 ₳
TUMBARUMBA
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REFERENCES
* Tumbarumba sales market data and key indicators encapsulates aggregate property market conditions within the postcode of 2653
** 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.
¥ Tumbarumba rental market data encapsulates aggregate property conditions within the postcode of 2653.
§ 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 postcode of 2653
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.
Prepared by PRD Research. © All medians and volumes are calculated by PRD Research. Use with written permission only. All other responsibilities disclaimed. © Copyright PRD 2025.
