Median house prices dip in the Snowy Mountains, but there are signs of an upturn

House prices in Canberra and Queanbeyan are slowly picking up. However, fringe areas further out of the ACT, including the Snowy Mountains region, are instead experiencing a decline.

According to the Domain House Price Report for the March quarter, the Snowy Mountains’ median fell by 0.4 per cent, although the drop is part of a larger decline overall of nearly 15 per cent over the past year.

Despite this, with winter around the corner, agents are reporting an increase in investor and lifestyle interest, suggesting a potential recovery.

View property

Henley Properties Dani Kell said they were witnessing positive changes in the market, with investors returning to take advantage of the upcoming ski season.

“Compared to the end of 2023, we’re seeing more interest and activity from lifestyle buyers with strong prices being achieved,” she said.

Earlier in the year, Kell sold the substantial 40-hectare property in The Snowy River Way, Jindabyne, for $2.36 million, while a similar property in the area has also recently settled.

Over on the South Coast, the region experienced a 2.3 per cent decrease in house prices since December, with the median dipping to $800,000, reflecting a slight downturn in the market.

Similarly, the Young-Yass region’s median house price fell by 4.3 per cent since the previous quarter to $560,000.

View property

However, prices are up 3.7 per cent from March 2023, suggesting resilience and potential for growth in the area.

In Goulburn-Mulwaree, the median house price continued its decline over the past year, dipping 3.6 per cent since the previous quarter to $600,000 and overall -6.3 per cent year-on-year.

View property