Gundagai Property Market Update 1st Half of 2022

In Q4 2021, Gundagai recorded a median house price of $306,660, and a median land price of $135,000. This represents annual (Q4 2020 – Q4 2021) median price growth of 14.2% for houses and stable price growth (0.0%) for land. Between Q4 2020 – Q4 2021 total sales in both markets increased, up by 2.6% for houses (to 39 sales) and by 18.8% for land (to 19 sales). Market conditions in Gundagai show real returns to investment, as price growth or stability is alongside higher sales figures. Owner-occupiers and downsizers can benefit from a highly demanded market, thus now is the time to transact.

Average vendor discounts between Q4 2020 and Q4 2021 have tighter for both property types, to -4.4% for houses and -4.4% for land. Market conditions in Gundagai have now shifted to favour sellers, where buyers are willing to negotiate closer to initial listing price. Now is the time to capitalise on your investment.

In December 2021, house rental yields in Gundagai were recorded at 4.3%. In the 12 months to Q4 2021, the median house rental price increased by 19.0% to reach $345 per week, while average days on the market remained constant at 20 days. Overall, this represents a growing rental market, with a limited regional demand.

3 bedroom houses have provided investors with +11.7% rental growth annually, with a median rent of $335 per week.

Also in December 2021, Gundagai recorded a vacancy rate of 0.5.%, below that of Cootamundra-Gundagai LGA (0.6%) and well below that of Sydney Metro (2.6%). Vacancy rates in Gundagai have does fluctuate, due to low rental stock. But it has remained well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%. This confirms there is a healthy rental demand with reliable tenants. Investors can be confident of a conducive investment environment in Gundagai.