PRDnationwide Tumbarumba

20 The Parade Street Tumbarumba, NSW, 2653

02 6948 2182

Tumbarumba Property Factsheet 2nd Half 2018

Property prices in Tumbarumba sit below the Snowy Valleys Council Local Government Area (LGA), indicating a more affordable entry point. First home buyers and investors are urged to act now and capitalise on more affordable opportunities in Tumbarumba, with a long-term view of positive capital growth.

The Tumbarumba property market recorded a median house price of $207,000 as at Q2 2018, representing an annual (Q2 2017 – Q2 2018) price softening of -10.0%. Meanwhile, the Snowy Valleys Council Local Government Area (LGA) recorded a median house price of $255,000.

Over the past 2 years (Q2 2016 – Q2 2018), median house prices in Tumbarumba have increased by 23.2%. Over the same time the Snowy Valley Council LGA experienced a softening of -5.6%. This suggests that despite an annual price softening (Q2 2017-Q2 2018), the Tumbarumba market is in fact experiencing a gradual price growth over a longer period of time.

Median house rents in Tumbarumba have remained relatively stable over the last twelve months to Q2 2018, currently at $250 per week. Vacancy rates have been trending downward to a competitive rate of 1.4% as at June 2018. Strong rental returns of 5.8% are on offer in the Tumbarumba housing market, which is much higher the wider Snowy Valleys Council LGA (4.9%) and Sydney Metro (2.8%). Thus the Tumbarumba property market presents highly lucrative opportunities to expand portfolios for first time investors.