Building the future: Albury Economic Indicators 2025
While broader economic headwinds continue to challenge regional and national growth, the latest Albury Economic Indicators Report – November 2025 shows an economy that continues to expand, diversify and demonstrate its relative strength when benchmarked against other major regional centres.
Much like cranes that lift a project from foundations to form, our economic indicators show the city rising through consistent investment, population growth and a broadening industry base.
Construction remains a clear signal of confidence. Residential and commercial activity has held firm, supported by ongoing investment and policy settings designed to encourage development. Over FY2025, 909 Construction and Complying Development Certificates were issued with a total value of $278.9 million — a 3.6 per cent rise on the previous 12-month period. Development Applications also remained strong, with 533 assessed, carrying a combined value of $338 million.
This financial year to date, 370 Construction and Complying Development Certificates valued at a combined $97.5 million have been issued, and 190 Development Applications have been received, valued at $52.2 million. These figures demonstrate sustained interest from investors, home builders and businesses. They also reflect the work underway to review our planning policies to support well-managed growth.
Affordability remains a distinguishing feature of our property market. The median house price in 2024/25 was $610,000 – modest growth over the year, yet around 20 per cent below the regional NSW average. This competitive position continues to attract buyers and support population growth, reinforcing the foundation on which long-term residential development stands.
Behind these results is a diverse and resilient local economy. Our Gross Regional Product reached $5.25 billion in June 2024, growing 4.7 per cent in a year and 32 per cent over the past five years. Across both cities, the Albury–Wodonga economy generated $9.64 billion and supported nearly 54,000 jobs, including more than 31,000 in Albury. Health care, construction, public administration, education and manufacturing continue to form the backbone of the region. Half of Albury’s economic value comes from health care and social assistance, real estate, construction and public administration. These sectors provide the structural supports - our economic scaffolding - that enable sustained expansion.
Business performance remains stable, even as businesses across the state and nation navigate challenging conditions. Albury is now home to 5,218 businesses – up 1.8 per cent over the year and 13 per cent since 2018/19. One in five operate in construction, with strong representation across real estate, professional services and health care. These numbers highlight a city driven by small enterprises and sole proprietors who underpin jobs and investment.
Population growth has remained consistent. As at June 2024, Albury’s population reached 58,317, growing 1.4 per cent over the year. Albury–Wodonga is now home to 103,141 people and is growing faster than both regional NSW and regional Victoria. Our demographic profile shows a strong working-age base, with the 25–34 year cohort the largest, supporting a capable labour force.
The work of Council remains anchored in Towards Albury 2050 and our purpose, vision and values. We are focused on shaping a nationally significant regional city - one that grows sustainably, attracts investment and supports employment. As part of this commitment, we are progressing with a review to ensure long-term financial sustainability. This is essential as we plan for major capital projects, maintain existing assets and support a population expected to approach 70,000 within a decade. This financial work is similar to reinforcing the base of a crane: it ensures we have the stability and capability to lift the projects and services our community expects.
Funding growth is a shared responsibility. The scale of investment required cannot fall to ratepayers alone. It depends on a coordinated effort between Council, developers, state and federal governments. Earlier newsletters have touched on this challenge and the Economic Indicators Report reinforces why these partnerships matter.
Looking ahead 10 years, I see an Albury that continues to grow steadily, supported by strong residential development, a well-balanced rate base and a financial framework capable of meeting the community’s expectations for services and facilities. The combined strength of Albury–Wodonga will continue to position the region as a powerhouse economy.
Our major projects reflect this long-term thinking. The recent ginkgo tree project in the Albury Botanic Gardens is a generational investment in a public place that will define the city for decades. The Lauren Jackson Sports Centre and the Thurgoona Link Road will strengthen our recreation, transport and regional connectivity. These projects are the visible signs of progress.
The Economic Indicators Report plays a central role in this work. It provides clear, accessible data on industries, businesses, population, demographics, development and the property market. It equips investors, businesses and the community with reliable insights and supports advocacy, planning and investment attraction. It also benchmarks Albury against major regional centres in New South Wales, Victoria and Queensland, reinforcing where we stand and where opportunities exist.
The results for 2025 show a city that continues to grow, adapt and maintain momentum despite broader economic pressures. They also confirm the strength and capability of our community, workforce and business sector. With careful planning and shared commitment, Albury is positioned to build on this foundation and continue the steady, measured progress across the city.
You can view the full report here: Albury Economic Indicators Report – November 2025