Tumut Market Update 1st Half 2025
CHANGE FROM LAST
In Q4 2024, Tumut* recorded a median house price of $540,000and a median land price of $192,500.This represents annual (Q4 2023- Q4 2024)price growth of 27.8%for houses and 4.1%for land. Comparing Q4 2023and Q4 2024,house sales surged exponentially, by 90.2% (to 78 sales in Q4 2024); whereas land sales declined by -37.5% (to only 5 sales in Q4 2024). This confirms there is a highly demanded housing market in Tumut*, and an undersupplied land market Thus, now is an ideal time for owners to capitalise ontheir investment Further, there is very little new housing stock planned in Tumut*; thus, buyers must actfast. 85 $540K $192K
YEAR HALF YEAR
HOUSE SALES
HOUSE MEDIAN PRICE
HOUSE RENTAL PRICE
LAND SALES
LAND MEDIAN PRICE
MEDIAN PRICE Q4 2024
MEDIAN PRICE Q4 2024
AVERAGE DAYS ON MARKET Q4 2024 AVERAGE DAYS ON
Tumut£ plans to see approximately $544.4Mofnewprojectscommencing constructionbetween2023and2026
The Talbingo Battery Energy Storage System ($500M) is a key significant infrastructure development set to commence between 2023and 2026. this project will stimulate the local economy through new job creation. There are a number of infrastructure projects that will improve liveability (i.e roadworks, bridge, amenities, etc); which combined with more jobs can attract more people to live in Tumut.
Two residential projects are planned between 2023and 2026:
• Lot 9 Fitzroy Street (6 Dwellings)
• 140Lambie Street (3 Units)
Whilst there is some new ready-to-go residential projects in the pipeline, the number of new units/dwellings is not enough to satisfy current demand The reliance on available stock still remain, with an undersupply highly likely. This will put more pressure on prices, notjust houses but all 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 first asking price of a property.
Average house vendor discounts between Q4 2023and Q4 2024have widened to a higher discount of -5.4%. This indicates that despite a higher median price, the market in Tumut still favourbuyers. Similarly, average vacant land discount has widened to a higher discount of -7.0%in Q4 2024. Despite this, with houses being highly demanded and very little new stock coming to market, this may not be the for much longer Thus, buyers should act quickly.
The suburb of Tumut has outperformed the wider Snowy Valleys Local Government Area (LGA) in median house and land prices for the past 5 years. This continued tobe the case in 2024for houses, however land prices have moderated to be on par with Snowy Valley LGA
Most of the homes sold in Tumut* across 2024were in the premium bracket of $500,000and above (38.1%), with a strong amount (25.4%) sold in the middle-price range of $400,000to $499,999(25.1%). Vacant land onthe other hand had most sales (48.4%) in the middle-price range price bracket of $150,000- $249,999.This indicates that whilst Tumut* is dominated by premium priced houses there are options for all budgets, in good news for buyers.
MARKET COMPARISON
The market comparison graph provides a comparative trend for median price of houses and land over the past 5 years. The main LGA chosen was based on their proximity to the main suburb analysed, which is Tumut.
PRICE BREAKDOWN 2024
than $49,999
to $149,999 $150,000 to $249,999 $250,000 to $349,999 $350,000 and above
RENTAL GROWTH 2025€
House rental yields in Tumut¥ was 4.1% as of December 2024,which is slightly above with the Snowy Valley LGA (4.0%) and Sydney Metro (2.7%) rental yields Further, median house rental price increased by 18.9%in the past 12months toQ4 2024, at $440per week. In the same timeframe the number of houses rented decreased, by -23.7% (to 29houses in Q4 2024). This suggests an undersupply in the house rental market, which is beneficial to investors.
4+ bedroom houses have provided investors with +8.7% rental growth annually, achieving a median rent of $500per week.
Tumut¥ recorded a vacancy rate of 0.3%in December 2024, well below the Snowy Valley LGA average of 1.8% and Sydney Metro’s 2.1%. Vacancy rates have fluctuated in the past 12months, but overall showed a declining pattern, which indicates aneven tighter rental market. Further, a 0.3%vacancy rate is well below the Real Estate Institution of Australia’s healthy benchmark of 3.0%, indicating quicker occupancy of rental properties in Tumut¥ . This suggests a conducive and sustainable investment condition, even with a higher house price in the past 12months.
RENTAL VACANCY RATES 2025
RENTAL YIELD 2025§
Tumut (2720)¥
Tumut (2720)
Snowy Valleys LGA
PROJECT DEVELOPMENT MAP 2023-2026 ₳
TUMUT
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REFERENCES
* Tumut sales market data and key indicators encapsulates aggregate property market conditions within the suburbs of Adelong, Batlow, Tumut and Talbingo.
** 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.
¥ Tumut rental market data encapsulates aggregate property conditions within the postcode of 2720.
§ 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 suburb of Adelong, Batlow, Tumut and Talbingo
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.
