A quick look at Tamworth property trends tells a surprising story that shows the increasing desirability of property in regional centres.
Since the start of the 2020s, the Tamworth region has been one of the best-performing real estate markets in New South Wales. Going as far as outperforming much hotter locations scattered across the Pacific coastline.
But how has this inland city – best known for its links to country music – become such a great place for homeowners to settle down and get on the market?
Tamworth Profile
Located in the north-central heart of New South Wales, Tamworth has grown to become one of the state’s principal inland cities. Sporting a population of just over 65,000; Tamworth is the second-largest inland city in the state – only sitting behind Albury.
Yet Tamworth is always bustling. This comes with it being considered the home of country music in Australia. The Tamworth Country Music Festival has grown to become one of Australia’s biggest music festivals bringing in some of the country’s biggest names from both Australia and the US. This cult phenomenon has helped the town grow into a regional hub as well as a big tourist draw.
Away from the music, Tamworth also sits as one of the biggest agricultural hubs in the country. It has a thriving equine industry and also boasts the largest livestock event facility in the entire southern hemisphere.
All this burgeoning activity has helped Tamworth property trends explode with the city’s development straddling either side of the Peel River. It has helped the local region – Tamworth Regional Council – expand into an area that now caters for over 60,000 residents.
General Facts
Population: 66,454 (2024)
Dwellings: 27,727
Households: 25,341
Average Price Regionally: $510,000 (Jun 2024)
Tamworth Property Trends Explored
South Tamworth
The largest suburb in the city, South Tamworth is one of the main hubs within the entire city. Sporting a population of 6,500, the area has a wide range of amenities and housing. This includes two major shopping centres, Tamworth High School as well as having the New England Highway running through its heart.
Having this variance of amenities has helped South Tamworth hit record highs in property value. As of July 2024, the average house price is $400,000 – up nearly 60% over the last five years. For families, a 4-bedroom house costs an average of $439,000 – still $100,000 under the regional average. Units also sell strongly in the area with an average price of $287,000 – a value that has doubled since 2020.
Population: 6,565 (2023)
Average House Price: $400,000
Average Unit Price: $287,500
Average Rental Figure: $407 p/w (house), $290 p/w (unit)
East Tamworth
Just to the southern edge of the CBD, East Tamworth is a sprawling suburb that merges into the country. Sandwiched between the Peel River and the Moonbi Ranges, the area snakes itself around the Oxley Highway with access to tourist sites such as the Australian Country Music Hall of Fame and the Powerhouse Motorcycle Museum.
With a mix of stunning scenery and excellent access, East Tamworth has some of the highest property values in the city. Average house prices here sit at $650,000 – well above what can be found across the river. For example, a 4-bedroom house here costs an average of $872,500 – nearly double the value of South Tamworth. It’s these types of figures that have helped Tamworth property trends boom in recent months.
Population: 5,306 (2023)
Average House Price: $650,000
Average Unit Price: $335,000
Average Rental Figure: $460 p/w (house), $345 p/w (unit)
North Tamworth
A largely residential suburb, North Tamworth has expanded significantly in recent years. With Tamworth Regional Hospital dominating the area, it has become one of Tamworth’s premier hotspots for growth in recent years.
This has been reflected in the sharp increase in house values in the area which now sell for an average of $665,000. This is a huge 12% increase compared to the June 2023 values which only sat at $590,000. Despite these increases, an average family home still falls around the regional average with a 3-bedroom property costing around $512,500. This makes North Tamworth an excellent indicator of the growth in Tamworth property trends in recent months.
Population: 5,141 (2023)
Average House Price: $665,000
Average Unit Price: $355,000
Average Rental Figure: $490 p/w (house), $360 p/w (unit)
West Tamworth
West Tamworth comes with a mixed profile, to say the least. The area is one of the hubs for the Tamworth Country Music Festival and is also home to Tamworth Airport. However, it also borders the town’s main industrial hub and has gathered a reputation for bad headlines stifling some of the growth seen across the Peel River.
What this means is that the area sports some of the cheapest housing in Tamworth. Average prices sit at 355,000 – considerably lower than found in the eastern regions of the city. This is highlighted by a four-bedroom house costing an average of $349,000 – around 70% lower than in East Tamworth. The average price value has also only risen by 2.9% – the slowest increase across the city. A sign of the slow growth found in this part of Tamworth.
Population: 5,417 (2023)
Average House Price: $355,000
Average Rental Figure: $380 p/w
Hillvue
Located on the southern edge of Tamworth, the suburb of Hillvue is fast becoming one of Tanworth’s best-kept secrets. With the town’s iconic Golden Guitar on its edge as well as the New England Highway, this leafy suburb is one of the first sights many people encounter when entering by car.
Having excellent access and iconic landmarks on its doorstep has made Hillvue one of the most desirable suburbs in Tamworth. The area has an average property value of $602,000 eclipsing many of its neighbouring suburbs. From June 2023 to June 2024, the average property value has increased by 9% – one of the fastest rises in the area. It is this type of rise that has sent Tamworth property trends skyrocketing in the past couple of years.
Population: 6,255 (2023)
Average House Price: $602,000
Average Rental Figure: 480 p/w
Kootingal
Heading east of Tamworth itself, the small town of Kootingal gives a sense of peacefulness away from the city itself. Located 20km east of Tamworth, the small town is surrounded by the Moonbi Ranges to the north and the Cockburn River to the south. Its position on the Oxley Highway gives it easy access to all major facilities helping to sustain a population of just over 2,000.
Despite its smaller reputation, house prices in Kootingal are cheaper than in many parts of Tamworth. The average house price sits at $487,000 – cheaper than nearby suburbs such as East Tamworth. However, it is starting to become a popular place to buy with prices increasing 13% between June 2023 and June 2024. This further echoes the trend that has befallen the Tamworth area in recent years.
Population: 2, 313 (2023)
Average House Price: $487,000
Average Rental Figure: $420 p/w
Manilla
Despite being 40km from Tamworth, the tourist town of Manilla has also had an impact on Tamworth property trends. The town of just over 2,000 regularly draws new eyes thanks to its spot on Fossickers Way and sitting in the Namoi River Valley. With rolling hills and large forests surrounding the town, it has become a picturesque backdrop for prospective buyers looking for a quieter hub in the greater Tamworth area.
Despite its attractive setting, house prices in Manilla are typically lower than many parts of the Tamworth region with an average property value of $355,000. On average, a 3-bedroom home will sell for around $360,000 – considerably lower than other towns like Kootingal or Nemingha. This has seen more people buy in the town in recent years with property prices increasing by 12.7% between July 2023 and July 2024.
Population: 2,386
Average House Price: $355,000
Average Rental Figure: $375 p/w
Conclusion
Thanks to its cultural ties and thriving industries, Tamworth is continuing to grow as one of the premier inland hubs of New South Wales. With this growth, it has seen prices across the city continue to surge and hit new heights. Whether it is houses near big landmarks or grabbing a slice of picturesque property, Tamworth continues to be one of New South Wales’ brightest sparks in the property game. It’s why many people hope that Tamworth property trends continue to perform strongly for years to come.
To seek out the best options for purchasing a home, speak to a Wise Buy Home Lender for guidance today.
Our property experts can give you all the advice you need to work out the best way to get on the property ladder today. Speak to our team today to see how they can help you find a home in one of New South Wales fastest growing towns.
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