Tumbarumba Property Market Update 1st Half 2025
Tumbarumba is a charming town nestled in the Snowy Mountains region of New South Wales. It is known for its scenery and rich history; surrounded by forests, vineyards and farmlands. With a mix of modern services, Tumbarumba is an ideal place for families.
Property Trends
In H2 2024 (i.e 2nd Half 2024) Tumbarumba recorded a median house price of $360,000 and a median vacant land price of $200,000. This represents annual (H2 2023 – H2 2024) growth of 10.8% for houses and 14.0% for land. Comparing H2 2023 and H2 2024, house sales declined by -28.6% (to 64 sales in H2 2024). The Tumbarumba land market is small, with only 6 sales in H2 2024. There is an undersupply of houses in the area, which created a buffer against higher interest rates – hence double-digit price growth. Now is an ideal time for owners to capitalise on their investments. With no new housing stock planned; buyers must act fast to secure a home.
Project Development
Tumbarumba plans to see approximately $3.3B of new projects commencing from 2021-2026. The largest project to commence is Humelink – by TransGrid ($3.2B). This project stimulates the energy industry in Wagga Wagga, Bannaby and Maragle; with a spill-over impact in the form of potential new jobs in Tumbarumba. No new residential projects are planned, thus no new stock, and an undersupply is expected. This will push up prices even further in 2025, thus now is an ideal time for buyers to enter the market.
Rental Market & Growth
House rental yields in Tumbarumba was 4.0% as of December 2024, on par with the Snowy Valley LGA (4.0%) and higher than Sydney Metro (2.7%). Further, the median house rental price increased by 19.0% in the past 12 months to Q4 2024, at $450 per week. In the same timeframe the number of houses rented also increased, to 5 rentals in Q4 2024. This indicates there is a highly demanded rental market in Tumbarumba, which benefits investors and suggests there is room for more investment opportunities.
Vacancy Rates & Property Investment
Tumbarumba recorded a vacancy rate of 1.0% in December 2024, below the Snowy Valley LGA average of 1.8% and Sydney Metro’s 2.1%. Vacancy rates in Tumbarumba have fluctuated in the past 12 months due to the small size of its rental market, but as an overall increased in the past quarter from September 2024. However, a 1.0% vacancy rate is significantly below the Real Estate Institution of Australia’s healthy benchmark of 3.0%, suggesting quicker occupancy of rental homes in Tumbarumba. This is conducive for investors looking to enter the market, even with higher house prices in Q4 2024.
> View the latest properties to buy in the Tumbarumba region
