Wodonga Property Market Update 1st Half 2025
Wodonga, located on the Victorian side of the Murray River, boasts a welcoming community with excellent amenities, including top-notch schools and healthcare facilities. The town offers a perfect blend of urban convenience and natural beauty, with easy access to parks, trails, and recreational activities.
Property Trends
In Q4 2024, Wodonga recorded a median house price of $573,500 and 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 vacant land. Interestingly, on a 6-month basis (Q2 - Q4 2024) median price grew by 1.6% for houses and 2.3% for vacant land, which indicates buyer demand has returned. Comparing Q4 2023 and Q4 2024, total sales increased by 17.9% for houses and surged by 53.8% for vacant land, indicating a highly demanded market. With most of the planned supply in 2025 being land, which require time for construction, buyers must seize this opportunity to enter the market.
Project Development
Wodonga will see approx. $576.5M of new projects commencing in 2025. This includes approx. 17 units, 70 townhouses, 8 dwellings, and 594 land lots. Although there is 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. This will have a multiplier effect on other stock types, as buyers look to units and townhouses as an alternative.
Rental Market & Growth
House rental yields in Wodonga was 4.1% as of December 2024, higher than Melbourne 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 Q4 2024) in the number of houses rented. The unit market showed the same pattern. There is an undersupplied rental market in Wodonga, which is beneficial to investors.
Vacancy Rates & Property Investment
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 an even tighter rental market. Further, 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 for investors.
