Tumut Property Market Update 1st Half 2025
Tumut is in the picturesque Snowy Valley of New South Wales about 320km southwest of New South Wales. It offers a delightful blend of natural beauty and rich history. Tumut is the gateway to the Snowy Mountains and a haven for outdoor enthusiasts. With a mix of country charm, natural beauty and modern convinces, Tumut is ideal for families.
Property Trends
In Q4 2024, Tumut recorded a median house price of $540,000 and a median land price of $192,500. This represents annual (Q4 2023 - Q4 2024) median price growth of 27.8% for houses and 4.1% for land. Comparing Q4 2023 and Q4 2024, house sales have 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 on their investment. Further, there is very little new housing stock planned in Tumut, which suggests prices can increase even more. Thus, buyers must act fast.
Project Development
Tumut will see approx. $544.4M of new projects commencing from 2023-2026. The largest project to commence is the Talbingo Battery Energy Storage System ($500.0M). This will help reliable renewable energy to the area. There are only 3 units, and 6 houses planned for construction, which is not enough to fulfil demand. With limited residential stock being added to the market an undersupply is expected, which will push up prices.
Rental Market & Growth
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 12 months to Q4 2024, at $440 per week. In the same timeframe the number of houses rented decreased, by -23.7% (to 29 houses in Q4 2024). This suggests an undersupply in the house rental market, which is beneficial to investors.
Vacancy Rates & Property Investment
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 12 months, but overall showed a declining pattern, which indicates an even tighter rental market. Furthermore, a 0.3% vacancy rate is significantly 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 12 months to Q4 2024.
