Shepparton Property Market Update 1st Half 2026
Shepparton offers a relaxed lifestyle with affordable housing and minimal traffic congestion, making it an attractive option for those seeking a quieter pace of life. The city has a vibrant cultural scene, while its relatively convenient access to Melbourne provides a balance between regional living and connection to a major city centre.
Property Trends
In Q1 2026, Shepparton recorded a median house price of $558,500 and a median unit price of $382,500. This represents an annual (Q1 2025 – Q1 2026) median price growth of 12.8% for houses and a slight price softening of -6.6% for units. Comparing Q1 2025 and Q1 2026, total sales declined by -25.1% for houses (to 206 sales in Q1 2026), however increased by 42.3% for units (to 37 sales in Q1 2026). There is a clear undersupply in the house market, which helped sustain price growth even with cash rate hikes in early 2026. Thus, now is still an ideal time for house owners to capitalize on their investments. Unit prices are currently more affordable, creating an opportunity for first home buyers.
Project Development
Shepparton will see approximately $586.4M of new projects commencing construction in 2026. Although there are several residential projects in the pipeline, most will add vacant land to the market, which will take time to develop into homes. The number of ready‑to‑sell stock in 2026 is small, thus in the short-term demand will exceed supply. This can lead to an undersupply, driving prices up in the short and m
Rental Market & Growth
House rental yield in Shepparton was 4.2% in March 2026, higher than Northern Victoria (3.8%) and Melbourne Metro (3.1%). This was paired with a 4.0% growth in median house rental price in the past 12 months, at $520 per week, along with a significant 34.5% increase in the number of houses rented, to 269 rentals in Q1 2026. This confirms there is a highly demanded and competitive house rental market, which benefits investors. Further, Shepparton offers an attractive and more affordable investment option to Melbourne Metro.
Vacancy Rates & Property Investment
Shepparton recorded a vacancy rate of 2.3% in March 2026, above Melbourne Metro (1.4%). Vacancy rates in the past 12 months have increased, due to investors re-entering the rental market. However, a 2.3% vacancy rate is still below the 3.0% benchmark, suggesting quicker occupancy of rental homes in Shepparton. This is a conducive environment for investors, even with a higher house sales price (thus, entry price) in the past 12 months to Q1 2026.
