Local Property Market Report - Summer 2024

Edition 28

Welcome

Happy 2024 to everyone, and this year we’re starting with a positive outlook; two sets of data have come in the last few weeks, new owner-occupier loans the Australian Bureau of Statistics (ABS) and CoreLogic, the largest independent provider of property information, analytics and property, has released its national Home Value Index.

New owner-occupier loan commitments rise The ABS data found the value of new owner-occupier loan commitments for dwellings rose 10.1 % through the year to November 2023, while the number of these commitments rose 7.3 %.

The number of new owner-occupier first home buyer loan commitments rose 3.5 % in November 2023 and was 20.3 % higher compared to a year ago. The value of these commitments rose 2.8 % in the month and was 25.8 % higher compared to a year ago.

This suggests more people are entering into the property market and looking to purchase a home; with potentially more buyers in the market, wherever you are in the property cycle, the chances are, if your property is on the market, there will potentially be more buyers are in a financial position to put an offer on your property.

Home Value Index CoreLogic’s national Home Value Index (HVI) rose 8.1 % in 2023. This is a significant turnaround from the -4.9 % drop seen in 2022.

At a regional level, we faired well, and two of our regions made it into the Top 10 regional SA3’s with highest 12-month value growth – Dwellings.

Lake Macquarie, East, came in at number one, with the medium value at $875,967, a rise of 8.0 % on last years’ figures. Lake Macquarie – West also made it to the list, coming in at number six. Its medium property value is $770,833, showing a rise of 5.2 % on last year’s figures.

What’s my house worth?

If you would just like to know what your house could get in today’s market, use our free online appraisal tool by Corelogic.

Just Scan the QR Code.

Or better still, contact us direct so we can come round and give you a more accurate free, independent, and non-obligatory appraisal.

Our experienced and innovative team can give you great advice on what you can do to improve your property right now and we are constantly achieving great results for our clients.

If you are thinking of selling, as well as doing some number crunching and looking at budgets, a critical factor in the decision-making process is getting the right agent to ensure you get the best price in the current market.

This is where we come in.

As one of Newcastle’s longest established real estate offices, we have developed unique marketing strategies to ensure your property appears at the top of the search list for your type of property. Plus, we have a database of potential buyers looking for many different types of properties, so we can get your property directly in front of people genuinely interested in your type of property.

Craig Andriessen Director

Argenton Metrics

HOUSE

UNIT

Metrics

HOUSE

UNIT

Median price

$679,000

$520,000

Number of Sales

15

2

Change in Median (12 Months)

12.4%

1.0%

Days on market

51

N/A

Change in Median Price (5 Years)

66.1%

38.2%

Weekly Rent

$522

$540

Gross Rental Yield

4.6%

4.8%

Average Hold Period (Years)

13.3

9.1

MONTGOMERY STREET

MARY STREET

3

3

$540,000 June 2023 1

1

$700,000 November 2023 2

2

LAKE ROAD

PRINCESS STREET

$580,000 September 2023

$765,000 September 2023

3

3

2

2

LAKE ROAD $630,000 September 2022 2

1

1

1

MONTGOMERY STREET $780,000 November 2023 3

1

1

MONTGOMERY STREET

LAKE ROAD

4

4

$660,000 October 2023 2

1

LAKE ROAD

$665,000 December 2023

4

2

3

-

$800,000 November 2023

2

4

WILLIAM STREET $830,000 November 2023 3

2

4

Barnsley Metrics

HOUSE

UNIT

Median price

$626,000

Change in Median (12 Months)

-0.7%

N/A

Change in Median Price (5 Years)

56.9%

N/A

Average Hold Period (Years)

14.7

N/A

Metrics

HOUSE

UNIT

Number of Sales

22

N/A

Days on market

20

N/A

Weekly Rent

$570

N/A

Gross Rental Yield

4.7%

N/A

MACQUARIE STREET

PRINCE STREET

$625,000 July 2023

$766,000 December 2023

2

2

1

3

1

-

GEORGE STREET

NELSON STREET

$630,000 December 2023

$890,000 October 2023

3

3

1

-

1

2

MACQUARIE STREET

GEORGE STREET

$665,000 October 2023

$950,000 October 2023

3

1

2

5

2

3

KING STREET

CHARLTON STREET

$690,000 July 2023

$1,025,000 August 2023

3

1

2

4

2

12

MACQUARIE STREET

NELSON STREET

$762,500 September 2023

$1,150,000 October 2023

3

4

2

2

3

-

Cardiff Metrics

HOUSE

UNIT

Metrics

HOUSE

UNIT

Median price

$745,000

$583,000

Number of Sales

78

16

Change in Median (12 Months)

10.2%

5.7%

Days on market

27

21

Change in Median Price (5 Years)

60.3%

35.1%

Weekly Rent

$550

$495

Gross Rental Yield

4.3%

4.7%

Average Hold Period (Years)

11.6

8.5

LACHLAN ROAD

PEARCE STREET

$549,950 October 2023

$756,000 October 2023

2

1

1

3

1

1

QUEENS AVENUE

BYRON STREET

$620,000 December 2023

$787,000 November 2023

3

3

1

1

1

1

EMERY STREET

JOY STREET

$640,000 October 2023

$810,000 September 2023

3

1

2

3

2

4

FERN VALLEY ROAD

CAMELLIA STREET

$668,000 November 2023

$857,000 October 2023

2

4

1

2

2

2

LACHLAN ROAD

VIEW STREET

$730,000 December 2023

$942,000 October 2023

3

2

2

6

2

2

Cardiff Heights Metrics

HOUSE

UNIT

Metrics

HOUSE

UNIT

Median price

$856,000

N/A

Number of Sales

18

N/A

Change in Median (12 Months)

12.7%

N/A

Days on market

27

N/A

Change in Median Price (5 Years)

63.6%

N/A

Weekly Rent

$550

N/A

Gross Rental Yield

4.0%

N/A

Average Hold Period (Years)

18.6

N/A

MAIN ROAD

MAIN ROAD

$440,000 November 2023

$1,040,000 November 2023

3

3

2

-

1

2

MAIN ROAD

NADRIAN CLOSE

$513,000 August 2023

$1,045,000 November 2023

3

2

-

4

1

2

PALMER PARADE

NADRIAN CLOSE

$695,000 July 2023

$1,090,000 NOvember 2023

3

1

3

4

2

2

MAIN ROAD

CHRISTINA STREET

$730,000 July 2023

$1,265,000 November 2023

3

2

2

4

2

2

RESERVOIR ROAD

COCKBURNS LANE

$745,000 October 2023

$4,000,000 November 2023

2

1

1

5

3

4

Cardiff South Metrics

HOUSE

UNIT

Metrics

HOUSE

UNIT

Median price

$757,000

$560,000

Number of Sales

35

10

Change in Median (12 Months)

8.4%

7.7

Days on market

29

41

Change in Median Price (5 Years)

55.8%

37.3

Weekly Rent

$575

$485

Gross Rental Yield

4.2%

4.8%

Average Hold Period (Years)

14.5

14.8

GERTRUDE STREET

HADDINGTON DRIVE

$595,000 November 2023

$771,555 October 2023

2

3

1

2

1

1

ALMORA CLOSE

ADA STREET

$630,000 October 2023

$800,000 November 2023

3 1 1

3

MAUD STREET

SIXTH STREET

$648,000 November 2023

$880,000 July 2023

2

4

1

1

1

1

1

-

FLORENCE STREET

BEESON STREET

$680,000 July 2023

$885,000 August 2023

3

2

2

4

2

2

MAUD STREET

KILLARA DRIVE

$730,000 October 2023

$950,000 October 2023

3

2

2

4

2

2

Cameron Park Metrics

HOUSE

UNIT

Metrics

HOUSE

UNIT

Median price

$873,000

N/A

Number of Sales

142

N/A

Change in Median (12 Months)

4.0%

N/A

Days on market

28

N/A

Change in Median Price (5 Years)

49.1%

N/A

Weekly Rent

$680

N/A

Gross Rental Yield

4.1%

N/A

Average Hold Period (Years)

9.4

N/A

COMEL AVENUE

PORTLAND DRIVE

$690,000 October 2023

$880,000 November 2023

3

2

1

4

2

2

HARRIS STREET

PORTSEA PARADE

$715,000 November 2023

$900,000 November 2023

4

4

1

2

2

2

NORTHRIDGE DRIVE

GAITES DRIVE

$720,000 December 2023

$945,000 October 2023

3

4

2

2

2

2

FRONTIER STREET

WOODBRIDGE DRIVE

$830,000 October 2023

$970,000 November 2023

4

2

2

4

2

2

BLACKWOOD CIRCUIT

STANDING AVENUE

$850,000 November 2023

$1,050,000 November 2023

4

5

2

2

3

2

Edgeworth Metrics

HOUSE

UNIT

Metrics

HOUSE

UNIT

Median price

$665,000

N/A

Number of Sales

140

N/A

Change in Median (12 Months)

5.5%

N/A

Days on market

27

N/A

Change in Median Price (5 Years)

56.0%

N/A

Weekly Rent

$577

N/A

Gross Rental Yield

4.5%

N/A

Average Hold Period (Years)

10.1

N/A

FLETCHER STREET

CHRIS PLACE

$525,000 December 2023

$850,000 October 2023

2

4

1

2

2

2

LAUREL AVENUE

RAGGATT CRESCENT

$560,000 November 2023

$880,000 November 2023

2

4

1

1

2

3

MINMI ROAD

TULIPWOOD AVENUE

$642,000 October 2023

$925,000 September 2023

3

1

1

4

2

2

TURNBULL STREET

PALISADE STREET

$690,000 November 2023

$927,000 October 2023

3

1

2

5

3

3

CAMPANA AVENUE

PALISADE STREET

$770,000 December 2023

$1,300,000 November 2023

4

4

1

3

2

2

Elermore Vale Metrics

HOUSE

UNIT

Metrics

HOUSE

UNIT

Median price

$782,000

$604,000

Number of Sales

59

44

Change in Median (12 Months)

7.9%

4.2%

Days on market

27

31

Change in Median Price (5 Years)

53.0%

65.1%

Weekly Rent

$585

$550

Gross Rental Yield

4.1%

4.7%

Average Hold Period (Years)

11.3

6.1

CROUDACE ROAD

MAX STREET

$525,000 November 2023

$770,000 October 2023

2

5

1

1

1

1

LAKE ROAD

SMITH ROAD

$641,000 December 2023

$816,500 November 2023

3

3

2

1

1

2

SAGITTARIUS CLOSE

KERRY AVENUE

$705,500 December 2023

$885,000 October 2023

3

3

2

1

2

2

RICHMOND TERRACE

PISCES AVENUE

$730,000 November 2023

$1,115,000 October 2023

3

5

1

1

3

2

ARIES WAY

ROBINIA CLOSE

$760,000 October 2023

$1,463,000 November 2023

3

1

2

4

2

2

Garden Suburb Metrics

HOUSE

UNIT

Metrics

HOUSE

UNIT

Median price

$978,000

N/A

Number of Sales

17

N/A

Change in Median (12 Months)

5.1%

N/A

Days on market

44

N/A

Change in Median Price (5 Years)

62.1%

N/A

Weekly Rent

$607

N/A

Gross Rental Yield

3.7%

N/A

Average Hold Period (Years)

18.1

N/A

HEATHER CRESCENT

WHALAN STREET

$685,200 June 2023

$955,000 July 2023

3

1

2

5

2

2

WHALAN STREET

SMOKEBUSH PLACE

$780,000 May 2023

$1,010,000 August 2023

3

1

1

4

2

2

WIMBLEDON GROVE

SUNDEW CLOSE

$805,000 November 2023

$1,100,000 June 2023

3

4

2

1

2

2

IRVINE STREET

EWING STREET

$838,000 July 2023

$1,104,000 December 2023

3

2

2

4

2

2

WIMBLEDON GROVE

STONECROP PLACE

$921,000 May 2023

$1,130,000 February 2023

4

2

1

5

2

3

Glendale Metrics

HOUSE

UNIT

Metrics

HOUSE

UNIT

Median price

$720,000

N/A

Number of Sales

58

N/A

Change in Median (12 Months)

9.3%

N/A

Days on market

32

N/A

Change in Median Price (5 Years)

63.8%

N/A

Weekly Rent

$550

N/A

Gross Rental Yield

4.4%

N/A

Average Hold Period (Years)

9.9

N/A

GRAHAM STREET

PARRY CLOSE

$580,000 November 2023

$730,000 December 2023

2

3

1

1

1

1

MANUEL STREET

CLARE STREET

$655,000 December 2023

$755,000 September 2023

3

2

4

3

1

3

GLENDON CRESCENT

ROSE AVENUE

$670,000 August 2023

$795,000 October 2023

3

1

1

4

2

-

CLARENCE STREET

CLARE STREET

$695,000 July 2023

$920,000 December 2023

3

1

2

4

2

2

MAIN ROAD

JUBILEE ROAD

$728,500 September 2023

December 2023

3

4

1

2

2

2

Hillsborough Metrics

HOUSE

UNIT

Metrics

HOUSE

UNIT

Median price

$795,000

N/A

Number of Sales

11

N/A

Change in Median (12 Months)

6.6%

N/A

Days on market

29

N/A

Change in Median Price (5 Years)

53.6%

N/A

Weekly Rent

$615

N/A

Gross Rental Yield

4.1%

N/A

Average Hold Period (Years)

13.3

N/A

KING STREET

HILLSBOROUGH ROAD

$621,000 April 2023 4

1

$740,000 July 2023 -

3

2

1

HILLSBOROUGH ROAD

HIGHAM ROAD

3

3

$700,000 July 2023

1

1

$745,000 February 2023 1

ROBINA DRIVE

KING STREET

$715,000 October 2023

$745,000 August 2023

3

1

2

3

1

3

1

HIGHAM ROAD

ROBINA DRIVE

$730,000 November 2023

$800,000 January 2023

3

4

1

2

2

2

HIGHAM ROAD

ROBINA DRIVE

$740,000 February 2023

$935,000 April 2023

3

1

2

4

2

2

Macquarie Hills Metrics

HOUSE

UNIT

Metrics

HOUSE

UNIT

Median price

$765,000

N/A

Number of Sales

41

N/A

Change in Median (12 Months)

9.6%

N/A

Days on market

20

N/A

Change in Median Price (5 Years)

56.0%

N/A

Weekly Rent

$600

N/A

Gross Rental Yield

4.4%

N/A

Average Hold Period (Years)

11.7

N/A

WINFORD PLACE

LAWSON ROAD

$696,000 October 2023

$880,000 December 2023

3

1

1

3

1

2

LAWSON ROAD

STEPHANIE CLOSE

$715,000 September 2023

$900,000 November 2023

3

4

1

2

2

2

DELASALA DRIVE

EXFORD AVENUE

$745,000 December 2023

$950,000 September 2023

5

5

1

1

2

2

PLYMOUTH CLOSE

BLAXLAND ROAD

$779,999 November 2023

$990,000 December 2023

3

4

1

1

2

2

GRANADA AVENUE

BLAXLAND ROAD

$870,000 August 2023

$2,210,000 August 2023

3

2

2

6

3

3

Wallsend Metrics

HOUSE

UNIT

Metrics

HOUSE

UNIT

Median price

$726,000

$576,000

Number of Sales

220

59

Change in Median (12 Months)

4.9%

4.3%

Days on market

26

28

Change in Median Price (5 Years)

55.5%

58.1%

Weekly Rent

$550

$500

Gross Rental Yield

4.2%

4.7%

Average Hold Period (Years)

11.8

7.7

PERKS STREET

DEVON STREET

$520,000 November 2023

$800,000 October 2023

2

4

1

1

2

2

BOSCAWEN STREET

ABBOTT STREET

$602,000 December 2023

$840,000 November 2023

2

3

1

1

2

2

BENJAMIN DRIVE

ELERMORE PARADE

$670,000 November 2023

$950,000 November 2023

3

4

1

1

2

2

ANNA PLACE

FRYAR CRESCENT

$691,000 November 2023

$1,102,000 October 2023

3

4

1

1

2

2

CARRINGTON STREET

CLAYMORE CLOSE

$780,000 October 2023

$1,260,000 November 2023

3

2

4

5

2

2