Orange Property Market Update 1st Half 2025
Orange, located in New South Wales, is a charming regional city located about 230km northwest of Sydney. Orange is surrounded by picturesque farmland, rolling hills and is known for its wine and food scene as well as rich history. With a perfect blend of country hospitality and modern amenities, Orange is an ideal family location.
Property Trends
In Q4 2024, Orange recorded a median house price of $677,000 and a median unit price of $418,000. This represents an annual (Q4 2023 - Q4 2024) slight softening of -1.0% for houses and -18.2% for units. Comparing Q4 2023 and Q4 2024, sales surged by 34.8% (to 306 sales in Q4 2024) for houses and 13.0% (to 26 sales in Q4 2024) for units. Although there was a surge in demand, current economic conditions and higher interest rates have impacted the market. The slightly more affordable pricing creates an opportune time for buyers to enter the market.
Project Development
Orange will see approx. $358.5M of new projects commencing in 2025; with 444 lots, 69 dwellings, 63 units/apartments, and 16 townhouses, planned. These will take time to construct, thus it is a medium-term solution to housing supply. However once built these will help with current demand, creating sustainable price growth for buyers.
Rental Market & Growth
House rental yields in Orange was 4.4% as of December 2024, above the City of Orange LGA (3.5%) and Sydney Metro (2.7%). Further, median house rental price increased by 3.7% in the past 12 months to Q4 2024, at $560 per week. At the same time the number of houses rented declined, by -1.0% (to 285 houses in Q4 2024); suggesting an undersupplied rental market. This is beneficial to investors, as Orange offers a more affordable median house and unit sales price than Sydney Metro.
Vacancy Rates & Property Investment
Orange recorded a vacancy rate of 1.6% in December 2024, below Sydney Metro’s 2.1%. Vacancy rates showed a slight increase in the past 3 months between September–December 2024, however, have shown an overall declining trend in the past 12 months (from a 2.0% vacancy rate in December 2023). Further, a 1.6% vacancy rate is still significantly below the Real Estate Institution of Australia’s healthy benchmark of 3.0%, which indicates quicker occupancy of rental properties in Orange. This creates a conducive environment for investors, as median property sale prices have become more affordable in the past 12 months to Q4 2024.
