Tamworth Rural Report 2024
Tamworth, located approximately 420km north of Sydney, is known for being the home of country music in Australia. Tamworth, and its surrounding areas, is rich in rural acreage land, whether solely for residential or farming purposes. This report includes land sales of 50 acres and above in these local government areas (LGA): Armidale, Tamworth, Gunnedah Shire, Uralla Shire, Liverpool Plains Shire, and Walcha Council.
Overview
Median price for land with more than 50 acres has shown an upward trend in the past four years to 2023 in all LGAs in Tamworth and surrounds. 2024 have shown notable fluctuations in median price, due to low stock. The number of acreage land over 50acres sold has declined significantly in 2024, which has been in a declining pattern in the past 5 years, in all LGAs.
Walcha and Gunnedah Shire have shown a significant decline in median price for 2024, however there were only 12 and 17 sales each. In contrast Armidale and Liverpool Shire reached peak prices, however based on only 29 and 23 sales each.
Property Trends
In 2024, Tamworth LGA recorded 49 over 50 acres sales, a -39.5% decline between 2023 and 2024. Of these 49 sales 63.3% are considered affordable, with a final sale price of less than $1,999,999. 24.5% of sales are in the premium market, sold at $2,900,000 plus.
A similar trend is evident in Gunnedah (17 sales in 2024, with 58.8% in the affordable price range and 17.6% in the premium), Uralla (15 sales in 2024, with 80.0% in the affordable price range and 13.3% in the premium), and Walcha (12 sales in 2024, with 58.3% in the affordable price range and 33.3% in the premium). Armidale and Liverpool Plains establishes itself as a more premium market. Armidale recorded 29 sales in 2024, with 34.5% in the affordable price range and 44.8% in the premium. Liverpool Plains had 23 sales in 2024, with 39.1% in the affordable price range and 60.9% in the premium.
Project Development
The Oven Mountain project is a 600MW renewable energy initiative located in the New England Renewable Energy Zone near the Macleay River in northern New South Wales. Currently in the planning stages, it aims to support grid stability and align with New South Wales’s clean energy goals.
The Lambruk Solar Project is a 500MW solar farm with a 300MW Battery Battery Energy Storage System (BESS) located near Loomberah, 15km southeast of Tamworth, NSW. It will power 180,000 homes annually and reduce CO2 emissions by 600,000 tonnes. This will provide grid stability, create 350 jobs, and deliver long-term economic benefits.
