Shepparton Property Market Update 1st Half 2025
Shepparton, in Victoria, offers a relaxed lifestyle with affordable housing and no peak-hour traffic, making it an ideal choice for those looking for a peaceful setting. Its lively cultural scene and convenient proximity to Melbourne create a unique blend of rural charm and urban accessibility.
Property Trends
In Q1 2025, Shepparton recorded a median house price of $480,000 and a median unit price of $377,500. This represents an annual (Q1 2024 – Q1 2025) median price softening of -4.5% for houses but an increase of 5.7% for units. Comparing Q1 2024 and Q1 2025, house sales increased by 31.2% (to 265 sales) and surged by 62.5% for units (26 sales). House prices softened slightly due to the higher interest rates, and data suggest there is a shift in buyer preference towards units, due to its affordability (compared to house prices). This increased demand and median unit price; thus, now is an ideal time for unit owners to sell.
Project Development
Shepparton will see approximately $1.5B of new projects commencing construction in 2025. There are several residential projects planned, which will supply 37 townhouses, 25 units/apartments, 12 dwellings, and 1,172 lots to the market. These projects will assist in answering the current demand, however, will take time to build. In the short run, high demand, especially for units, will continue to push up prices further.
Rental Market & Growth
House rental yield in Shepparton was 4.4% in March 2025, higher than Northern Victoria (3.9%) and Melbourne Metro (3.1%). This was paired with a 12.7% growth in median house rental price in the past 12 months, at $620 per week, along with a -22.0% increase in the number of houses rented, to 32 rentals in Q1 2025. Average days decreased by -37.9%, to historical low point of 18 days. There is an undersupplied and competitive house rental market in Shepparton, offering an attractive and more affordable investment option to Melbourne Metro.
Vacancy Rates & Property Investment
Shepparton recorded a vacancy rate of 1.0% in March 2025, below Melbourne Metro (1.5%). Vacancy rates have decreased in the past 12 months, indicating a tighter rental market. Furthermore, a 1.0% vacancy rate is below the Real Estate Institute of Australia’s healthy benchmark of 3.0%, suggesting quicker occupancy of rental homes in Shepparton. There is a conducive environment for investors, especially with a more affordable median house sale price in Q1 2025.
