While spring has come to a close, the real estate market in North East Victoria remains active, with buyers taking a more cautious approach. In some cases negotiated deals have been the order of the day, reflecting a dynamic and responsive market. As we move into summer, buyers are expected to maintain an advantage, with ongoing opportunities to secure lifestyle and investment properties in this sought-after region. Presented by Murray Valley Real Estate, this snapshot highlights key market trends and expert insights to help buyers navigate current conditions.

Above: 28 Peter Thompson Drive, Yarrawonga - view listing

Yarrawonga: Steady Growth in a Thriving Lakeside Town

Yarrawonga remains one of the jewels of North East Victoria, combining a relaxed lifestyle with robust community infrastructure. The median house price has risen to $634,000, marking a 3.89% increase over the past 12 months. With median rents at $500 per week and a gross rental yield of 4.1%, Yarrawonga offers a balanced market for both owner-occupiers and investors.

What makes Yarrawonga stand out is its versatility. Situated along the banks of Lake Mulwala, the town offers endless recreational opportunities, from fishing to water sports. Buyers are particularly drawn to properties near the lake and golf courses, which blend lifestyle appeal with long-term investment security. Murray Valley Real Estate’s local expertise ensures buyers can find properties that match their lifestyle goals and investment needs. With a strong local economy rooted in tourism and agriculture, Yarrawonga continues to attract families, retirees, and investors looking for stability and growth.

Bundalong: Affordable Riverfront Charm

For buyers seeking a tranquil retreat, Bundalong offers an affordable alternative to nearby Yarrawonga. With a median house price of $780,000—despite a recent 27.68% decline—this picturesque town is now an attractive entry point into the Murray River lifestyle. While rental yields average 3.1%, Bundalong’s charm lies in its serenity and close-knit community, making it ideal for those prioritising lifestyle over high returns.

Above: 105 Pasley Street Bundalong - view listing

Bundalong is renowned for its water-based activities, particularly boating and fishing. The town’s proximity to Yarrawonga provides convenient access to larger amenities while retaining its peaceful ambiance. Buyers looking for holiday homes or weekend getaways will find great value in Bundalong’s market, especially as vendors are showing flexibility. Murray Valley Real Estate has observed that retiring vendors are often willing to negotiate prices to expedite their next real estate journey.

Further Afield: Wangaratta, Beechworth, and Echuca

North East Victoria’s wider region offers diverse buying opportunities. Wangaratta provides affordability with a median house price of $525,000 and a balanced lifestyle supported by excellent schools and proximity to the King Valley wine region. Beechworth, with its heritage charm and boutique appeal, boasts a median house price of $821,000 and strong market performance. Meanwhile, Echuca, a riverside town with a thriving tourism scene, offers attractive investment potential with steady growth and a unique cultural atmosphere. Buyers can also leverage Murray Valley Real Estate’s in-depth knowledge of local trends to secure properties in emerging Murray Riverside tourist towns, like Barmah—an ideal location for watersports and fishing and a gateway to Barmah National Park, which is home to the world’s largest red gum forest.

Above: 17-19 Rice Street, Barmah - view listing

A Season for Smart Buying

With spring in full swing, North East Victoria offers a diverse range of opportunities for buyers. Yarrawonga’s steady growth and Bundalong’s affordability provide excellent options for those seeking lifestyle-focused investments. Meanwhile, towns like Wangaratta, Beechworth, Barmah and Echuca offer varied advantages, from affordability and charm to tourism-driven growth.

The current market conditions, supported by interest rates expected to hold steady until April or May 2025, present a clear buyer’s advantage. Murray Valley Real Estate notes that successful negotiations have become increasingly common, as vendors prioritise the ability to move forward over achieving peak pricing. Whether you’re seeking a family home, a holiday retreat, or a solid investment, North East Victoria’s property market—with expert guidance—promises a bright and secure future.

(Data provided by CoreLogic suburb report, 12 months to October 2024)