Wodonga Market Update 1st Half 2025 by PRD Real Estate

Wodonga Market Update 1st Half 2025

In Q4 2024, Wodonga* recorded a median house price of $573,500and a median vacant land price of $220,000.This represents stable house price growth in the past 12 months to Q4 2024)and a slight softening of -2.2% for vacantland. Interestingly, on a 6 months basis (to Q4 2024) median price grew by 1.6%for houses and 2.3%for vacantland, which indicates buyer demand has returned. Comparing Q4 2023and Q4 2024, total sales increased by 17.9%for houses and surged by 53.8%for vacantland, highlighting a highly-demanded market. With most of the planned supply in 2025being vacantland, which will require time for construction, buyers should seize this opportunity to enter the market.

YEAR HALF YEAR CHANGE FROM LAST

Wodonga£ will see approx.$576.5Mof newprojectscommencingin2025

HOUSE SALES

HOUSE MEDIAN PRICE

HOUSE RENTAL PRICE

LAND SALES

LAND MEDIAN PRICE

MEDIAN PRICE Q4 2024

$573K $220K

MEDIAN PRICE Q4 2024

AVERAGE DAYS ON MARKET Q4 2024

A main infrastructure project is Kiewa Valley Highway Battery Energy Storage System - Baranduda Bess This project will construct the installation of a 400MW/1800MWh Battery Energy Storage System, control room and substation.

Key residential projects include:

• 92Martins Road Residential Subdivision (530 Lots)

• 3 Sage Court Units (9 Units)

• 448A Boyes Road Dwellings (5 Dwellings)

Although there are ample land lots planned, this will require time before hitting the market as ready-to-sell stock. With insufficient new stock to answer demand, the median house price is expected to increase 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 tightened to -2.8% for houses and -4.9% for vacant land. Market conditions in Wodonga* still favourbuyers, as sellers are willing to accept below the listed prices. That said, a tighter discount indicates a market shift towards a seller’s market. Thus, buyers need to act quickly.

The suburb of Wodonga has historically been onpar with the wider Wodonga LGA in both house and land median prices for the past 5 years. 2024saw this trend remain for land, while house median price in the Wodonga suburb have become slightly more affordable thanthe LGA.

In 2024, most of the homes sold in Wodonga* were in the middle price brackets, with 30.2%of houses sold between $550,000and $649,999and 57.5% of vacant land between $200,000and $249,999.That said, the most affordable price bracket remained available, with 15.6%of houses sold at less than$449,999and 9.0%of land sold at less than $149,999.This is good news for first-home buyers. The premium market for houses have increased slightly, with 12.0% of stock sold at $750,000and above. This is benefits owners who are looking to capitalise ontheir investment.

MARKET COMPARISON

Wodonga (3690) House Wodonga LGA House Wodonga (3690) Vacant Land Wodonga LGA Vacant Land

PRICE BREAKDOWN 2024

SOLD

Less than $449,999

$450,000 to $549,999

$550,000 to $649,999

$650,000 to $749,999 $750,000 and above

Less than $149,999

$150,000 to $199,999

$200,000 to $249,999

$250,000 to $299,999 $300,000 and above

The market comparison graph provides a comparative trend for median price of houses and vacant land over the past 5 years. The main LGA chosen was based on their proximity to the main suburb analysed, which is Wodonga.

RENTAL GROWTH 2025€

House rental yields in Wodonga¥ was 4.1% as of December 2024,higher thanMelbourne Metro (3.1%). This is paired with an 8.7% growth in median house rental price in the past 12 months to Q4 2024,to$500 per week, and a -6.8% decline (to 110 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 Wodonga¥, which is beneficial to investors.

2-bedroom houses have provided investors with +11.1%rental growth annually, achieving a median rent of $400per week.

Wodonga¥ recorded a vacancy rate of 0.5% in December 2024, significantly below Melbourne Metro’s 2.1%. Vacancy rates have decreased in the past 12 months, indicating aneven tighter rental market. Furthermore, a 0.5%vacancy rate is well below the Real Estate Institution of Australia’s healthy benchmark of 3.0%, indicating quicker occupancy of rental properties in Wodonga¥. This suggests a sustainable investment environment. With a more affordable entry price than Melbourne Metro, Wodonga¥ is an attractive investment alternative forinvestors.

RENTAL VACANCY RATES 2025

Wodonga (3690) Wodonga LGA Melbourne Metro REIA 'Healthy' Benchmark

RENTAL YIELD 2025§ %

Wodonga (3690)

PROJECT DEVELOPMENT MAP 2025 ₳

WODONGA

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REFERENCES

* Wodonga sales market data and key indicators encapsulates aggregate property market conditions within the Wodonga Local Government Area.

** 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.

¥ Wodonga rental market data encapsulates aggregate property conditions within the postcode of 3690.

§ 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 3690 and 3691.

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.