Nagambie Property Market Update 1st Half 2025
Nagambie, in Victoria, offers a serene lifestyle with beautiful lakeside views and plenty of outdoor activities like boating and bird watching. The town's family-friendly vibe and charming Victorian-era main street make it an inviting place to call home.
Property Trends
In Q1 2025, Nagambie recorded a median house price of $645,000 and a median land price of $270,000. This represents an annual (Q1 2024 – Q1 2025) price growth of 5.3% for houses and 7.6% for land. Comparing Q1 2024 and Q1 2025, total sales increased by 5.3% for houses (to 20 sales in Q1 2025) and by 25.0% for land (to 10 sales in Q1 2025). There is a high demand for both property types, which created a buffer against higher interest rates. In the past 12 months to Q1 2025, vacant land experienced higher price and sales volume growth than houses, suggesting buyers are looking into more affordable options. With limited current and future supply available, buyers must act fast.
Project Development
The Shire of Strathbogie plans to see approx. $84.9M of new projects due to commence construction in 2025. Although there are a few new dwellings (15) and units (5) to be delivered through these projects, it is still insufficient to meet current demand. Further, the new land lots planned will require time to be built and developed. As a result, property prices for all stock types are expected to increase further in the short term.
Rental Market & Growth
House rental yield in Nagambie was 4.2% as of March 2025, higher than Northern Victoria (3.9%) and Melbourne Metro (3.1%). Median house rental price did soften slightly in the past 12 months to Q1 2025, however, only by -2.8%, sitting at $520 per week. In contrast, the number of houses rented surged by 37.5% (to 11 rentals in Q1 2025). This confirms a highly demanded house rental market despite slight price adjustment, making it an attractive alternative for investors – especially with more affordable entry (sales) price compared to Melbourne Metro.
Vacancy Rates & Property Investment
Nagambie recorded a vacancy rate of 2.0% in March 2025. Although vacancy rates have experienced some fluctuations, they have declined over the past six months to March 2025, indicating tighter rental demand. Furthermore, a 2.0% vacancy rate is still well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%, indicating a quicker occupancy of rental homes. This confirms Nagambie as a sustainable and conducive environment for investors.
