Albury Property Market Update 1st Half 2025
In Q4 2024, Albury recorded a median house price of $602,000 and a median vacant land price of $255,000. This represents stable median price growth for houses in the past 12 months to Q4 2024, and a slight softening of -1.9% for vacant land. Comparing Q4 2023 and Q4 2024, house sales remained relatively stable, at 296 sales; but land sales declined significantly by -27.1% (to 35 sales). There is a tightly held house market in Albury, and the temporary stable price growth creates a window of opportunity for first-home buyers. That said, most of the planned supply in 2025 is vacant land, which require time for construction. Buyers need to act fast before further price growth occurs.
Property Trends
In Q4 2024, Albury recorded a median house price of $602,000 and a median vacant land price of $255,000. This represents stable median price growth for houses in the past 12 months to Q4 2024, and a slight softening of -1.9% for vacant land. Comparing Q4 2023 and Q4 2024, house sales remained relatively stable, at 296 sales; but land sales declined significantly by -27.1% (to 35 sales). There is a tightly held house market in Albury, and the temporary stable price growth creates a window of opportunity for first-home buyers. That said, most of the planned supply in 2025 is vacant land, which require time for construction. Buyers need to act fast before further price growth occurs.
Project Development
Albury will see approximately $922.8M of new projects commencing in 2025. Although there are several mixed-use and residential projects in the pipeline, adding 35 units, 6 townhouses, 26 dwellings, and 734 lots. Despite this, the number of ready-to-sell stock planned is still not enough to answer demand. An undersupply will continue to exist, which will push up prices for all stock types.
Rental Market & Growth
House rental yields in Albury was 4.0% as of December 2024, higher than Sydney Metro (2.7%). This is paired with a 5.8% growth in median house rental price in the past 12 months to Q4 2024, to $550 per week, and a significant -50.0% drop (to only 16 rentals) in the number of houses rented. There is an undersupplied house rental market in Albury, which is beneficial to investors.
Vacancy Rates & Property Investment
Albury recorded a vacancy rate of 0.9% in December 2024, significantly below Sydney Metro’s 2.1%. Vacancy rates have decreased in the past 12 months, indicating an even tighter rental market. Furthermore, a 0.9% vacancy rate is well below the Real Estate Institution of Australia’s healthy benchmark of 3.0%, indicating a tight rental demand and quicker occupancy of rental properties. This suggests a sustainable investment environment. With a more affordable entry price compared to Sydney Metro, Albury is an attractive investment alternative for investors.
