Kyneton Property Market Update 1st Half 2026
Kyneton, Victoria, offers a perfect blend of country charm and modern convenience, with vibrant cafes, art galleries, and historic architecture. Surrounded by natural beauty and only an hour from Melbourne, it’s ideal for a relaxed yet connected lifestyle.
Property Trends
In Q4 2025, Kyneton recorded a median house price of $840,000 and a median vacant land price of $350,000. This represents an annual (Q4 2024 – Q4 2025) median price growth of 1.8% for houses, alongside a 41.9% surge in the number of houses sold (to 61 sales in Q4 2025). Median price for vacant land has declined by -13.0%, however the market is extremely small (9 sales in Q4 2025), thus, it is prone to price changes. There is a highly demanded house market in Kyneton, which combined with previously lower interest rates have stimulated price growth. This suggests that now is an ideal time for owners to transact and capitalise on their investments, especially with very limited new housing supply planned for construction in 2026.
Project Development
Kyneton plans to see approximately $96.2M of new projects commencing construction from 2026 onwards. There is only one residential project planned from 2026 onwards, delivering a total of just 4 dwellings. This will not be enough to answer current demand, which suggests a potential undersupply of housing stock soon. This puts pressure on prices; thus, higher house prices are highly likely for the rest of 2026.
Rental Market & Growth
House rental yield in Kyneton was 2.9% as of December 2025, on par with Melbourne Metro (3.0%). Median house rental price has remained relatively stable in the past 12 months to Q4 2025, at $590 per week, along with a decline of -38.1% in the number of houses rented (to 13 rentals in Q4 2025). This suggests an undersupplied house rental market in Kyneton. This is beneficial for investors, especially those looking for a more affordable investment option to Melbourne.
Vacancy Rates & Property Investment
Kyneton recorded a vacancy rate of 0.6% in December 2025, significantly below the Macedon Ranges Shire’s average of 4.3% and Melbourne Metro’s average of 2.0%. Vacancy rates have declined in the past 12 months to December 2025, indicating an even tighter rental market. Furthermore, a 0.6% vacancy rate is significantly below the Real Estate Institute of Australia’s healthy benchmark of 3.0%, which suggests quicker occupancy of rental homes in Kyneton. This is an ideal environment for investors, even with a higher median house sales price (thus, entry price) in Q4 2025.
