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Shepparton: The Food Bowl of Victoria
Situated in northern Victoria along the Goulburn River, Shepparton is renowned as the Food Bowl of the state, producing a large share of the nation’s fruit, dairy, and agricultural exports. Just over two hours north of Melbourne CBD, the city blends a strong regional economy, a diverse cultural community, and a growing healthcare and education hub. Its affordability, strong yields, transport links, ongoing infrastructure investment, and expanding industries make Shepparton an attractive location for families, workers, and investors alike.
But how does its property market perform? After a boom in 2021 and 2022, growth has slowed and been stagnant over the past 12 months. Will Shepparton’s market pick up pace in the year ahead? Join us today to explore the city’s current property market conditions and outlook!
As of October 2025, Shepparton’s House Market Pressure is moderate but improving.
Among the six metrics that InvestorKit uses to measure market performance, Shepparton scores:
- 5 (very strong) in rental yield,
- 4 (strong) in rental pressure, affordability, and incoming supply,
- 3 (average) in price pressure,
- 2 (relatively weak) in the growth cycle.
This highlights Shepparton’s strength is yields and rental conditions, while the sales market is still in the early stages of recovery.
Shepparton’s Demographic & Economic Trends
Shepparton’s population growth has been relatively stable over the past 7 years and largely driven by overseas migration. Its current population growth is 1.07%, slightly below the regional Victoria average of around 1.23%.
Shepparton’s economy is healthy and active, with a low unemployment rate at 2.8%, well below Victoria’s 4.2%. While the unemployment rate has ticked up recently, it is still far lower than pre-COVID levels. Job ads have remained relatively high, around 2.4 times than the pre-pandemic average.
Shepparton’s Property Market: Sales Market Trends
Shepparton’s house price growth has been slow over the past year, with the current median sitting at $492k, around 0.1% below last year.
However, signs of rising pressure are emerging. Since early 2025, the 3-month rolling median price has started to lift, while days on market have steadily declined, falling from 58 to 54 days.
Inventory has also trended downward. Since April 2025, falling listings and rising sales have pushed inventory down noticeably to a balanced level of around 3.0 months.
Over the past decade, Shepparton’s building approvals have remained well below the high rate benchmark and sit at about 2.0% today, suggesting a low oversupply risk.
Shepparton’s house prices surged in 2021-22 but have stagnated since 2024. Yet, with 10-year annualised growth at 7%, in line with its long-term average of 5-7%, the market still holds room for steady medium-term growth.
Shepparton’s Property Market: Rental Market Trends
Shepparton’s rental market is under high pressure, as seen in its low vacancy rates. Median rent has grown steadily over the last 12 months, up by around 6.5%.
Shepparton’s median rental yield has improved since the rental price has outpaced the sales price. Its current median yield is at a high 5.5%, well above the average yield of top-populated regional cities.
In terms of affordability, houses in Shepparton are relatively affordable in both the sales and rental markets. House prices are around 14% undervalued, while the rental prices are around 13% undervalued.
In the next 6 to 12 months
Shepparton’s house prices are expected to improve amid rising market pressure, as shown by declining inventory and shorter days on market. Rental pressure will likely remain elevated with low vacancy rates, driving further rent growth and sustaining strong yields.
Shepparton is the 18th regional city we examine in this Market Pressure Review Blog Series. Stay tuned for more cities to follow! InvestorKit is a data-driven buyers’ agency that chooses purchasing locations through a sophisticated market pressure analysis system. This methodology has enabled our clients to achieve growth higher than the average and expedite their investment journey. Interested in learning more about InvestorKit’s research and services? Talk to us today by clicking here and requesting your 15-minute FREE discovery call!