Welcome to our Upper Hunter Property Report
The Local September 2023
Our difference makes a big difference
News
Building on the positive momentum observed in the June quarter, the Upper Hunter property market continued its upward trajectory in the September quarter of 2023. Muswellbrook sustained its robust performance, recording 114 transactions during the quarter, marking a commendable 16% increase from the preceding quarter. Similarly, Scone experienced an uptick in activity with 48 transactions, showcasing a notable improvement from the 35 sales in the previous quarter. This surge in transaction volumes underscores the sustained interest and engagement in the local real estate market. Sarah Lorden, Director / Licensee Scone Sandy Warburton, Director / Licensee Muswellbrook
Whilst days on market across the Upper Hunter have increased slightly to 63 days (Warburton days on market 48), unlike metropolitan areas in the state, the Upper Hunter has not succumbed to the same impact of interest rate fluctuations, primarily due to the region's continued relative affordability. Notably, investors played a pivotal role in certain market segments, reflecting strong confidence in the region's long-term growth potential. A significant proportion of these investors hail from outside the region, emphasizing the Upper Hunter's appeal as an investment destination. The combination of heightened demand and a limited supply of available properties has contributed to
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incremental increases in pricing. Muswellbrook saw its median sale price rise by $5,000, reaching $465,000, while Scone experienced a more substantial increase, with the median price climbing by $21,500 to $522,000. These price movements indicate a positive trend in property values, affirming the attractiveness of the Upper Hunter real estate market. The positive trajectory observed in transaction volumes and pricing during the September quarter aligns with the overall trend of high demand in the Upper Hunter. The outlook for the remainder of 2023 remains promising with incentives available to first home buyers and a Sarah Lorden, Director / Licensee Scone Sandy Warburton, Director / Licensee Muswellbrook
continued trend of individuals seeking a change of scenery from greater Sydney contribute to the favorable market conditions. It is noteworthy that the ongoing trend of individuals relocating from metropolitan areas, commonly referred to as "tree changers," is pushing buyers further north to the Upper Hunter. Traditionally, these relocations would have been closer to home in areas such as the Central Coast and Lower Hunter, but affordability constraints are redirecting this demographic towards the Upper Hunter.
Upper Hunter Property Statistics - 2023 September Quarter
Total Houses
Aberdeen
Denman
Muswellbrook
Scone
Murrurundi
2
8
64
27
8
8
5
1
2
18
3
2
39
5
2
1
Total # Land Units Other
7
Commercial Total Properties
4
9
12
131
41
13
Lowest House Price
$380,000
$254,000
$1
$1
$140,000
Highest House Price
$408,000
$1,000,000
$835,000
$1,600,000
$520,000
Median House Price
$394,000
$455,000
$473,000
$600,000
$403,000
Average House Price
$394,000
$539,875
$472,813
$606,235
$378,250
Lowest Unit Price
$385,000
$182,000
$270,000
Highest Unit Price
$547,500
$457,000
$600,000
Mediun Unit Price
$466,250
$285,000
$460,000
Average Unit Price
$466,250
$304,278
$443,333
Lowest Land Price
$110,000
$225,000
$280,000
Highest Land Price
$330,000
$250,000
$280,000
Median Land Price
$292,500
$236,000
$280,000
Average Land Price
$243,750
$237,400
$280,000
$38,983,001
$19,875,334
$3,306,000
Total Volume of Sales
5
$790,674
$5,251,500
*Source = rpdata.com
Properties Sold Per Quarter Number of Properties Sold
Mar Qtr
6
Muswellbrook
Scone
Aberdeen
Denman
Jun Qtr
Sep Qtr
Dec Qtr
*Source = Core Logic rpdata.com.au
Upper Hunter Rental Statistics Muswellbrook, Scone, Aberdeen & Denman
8
Market Share % Total Value Sold Percentage
9
*Source = realestate.com.au 01/06/2023 - 30/09/2023
Properties Sold By Our Team 2023 September Quarter
75 Allan Cunningham Road, Scone Sold Contact Agent A 6
B 6
C 3
180 Queen Street, Muswellbrook Sold $1,010,000 A 5
B 5
C 6
129 Beggary Creek Rd Muscle Creek 1 Stanstead Close, Scone Sold $970,000 Sold $825,000 A 4
B 4
C 6
22 Bloodwood Road, Muswellbrook Sold $692,000 A 5
B 5
C 2
23 Widden Close, Scone Sold $645,000 A 3
11
B 3
C 2
A 4
B 4
C 5
150 Liverpool Street, Scone Sold July $655,000 A 3
B 3
C 1
50 Guernsey Street, Scone Sold $630,000 A 3
B 3
C 1
58 Gray Street, Scone Sold Contact Agent A 4
B 4
C 7
44 Towarri Street, Scone Sold $740,000 A 5
B 5
C 2
25 Alabama Street, Scone Sold $655,000 A 4
B 4
C 2
75 Kingdon Street, Scone Sold September $625,000 A 3
B 3
Properties Sold By Our Team 2023 September Quarter
14 Wanaruah Circuit, Muswellbrook Sold $615,000 A 4
B 4
C 2
23 Davies Street, Scone Sold $600,000 A 3
B 3
C 2
17 Turanville Avenue, Muswellbrook Sold $600,000 A 3
B 3
C 2
9 Chivers Circuit, Muswellbrook Sold $570,000 A 4
B 4
C 2
37 Finnegan Crescent, Muswellbrook 53 Bimbadeen Drive, Muswellbrook Sold $559,000 Sold $550,000 A 4
B 4
C 2
135 Maitland Street, Muswellbrook Sold $520,000 A 4
12
B 4
C 4
A 3
B 3
C 3
19 Bloodwood Road, Muswellbrook Sold $520,000 A 4
B 4
C 2
77 Kingdon Street, Scone Sold $600,000 A 3
B 3
58 Finnegan Cres, Muswellbrook Sold $560,000 A 4
B 4
C 2
5 Dumaresq Street, Muswellbrook Sold $550,000 A 4
B 4
17 Sylvana Street, Muswellbrook Sold $515,000 A 4
B 4
C 2
Properties Sold By Our Team 2023 September Quarter
5 Bowfield Place, Muswellbrook Sold $500,000 A 4
B 4
C 2
51 Kingdon Street, Scone Sold $490,000 A 3
B 3
C 1
1/46B Hill Street, Scone Sold $460,000 A 3
B 3
C 1
58 Hill Street, Scone Sold July $415,000 A 2
13
B 2
C 1
8 Jeans Street, Muswellbrook Sold $495,000 A 4
B 4
C 2
43 Barton Street, Scone Sold $470,000 A 4
B 4
C 4
149 Mayne Street, Murrurundi Sold $420,000 A 4
B 4
C 1
18 Gladstone Street, Wingen Sold $415,000 A 2
B 2
C 4
1 & 2/46 Brecht St, Muswellbrook Sold $490,000 A 3
B 3
C 2
32 Parker Street, Scone Sold $466,000 A 2
B 2
15 Mulga Street, Scone Sold $415,000 A 3
B 3
C 2
23 Scott Street, Scone Sold $411,000 A 3
B 3
C 1
Properties Sold By Our Team 2023 September Quarter
9 Peppermint Road, Muswellbrook Sold $410,000 A 3
B 3
C 1
2/14 Paxton Street, Denman Sold $385,000 A 4
B 1
C 2
4 Gyarran Street, Muswellbrook Sold $340,000 A 2
B 2
C 2
50 Paradise Lane, Murrurundi Sold $280,000
34 Scott Street, Scone Sold $410,000 A 2
C 1
1/81 St Andrews Street, Aberdeen Sold $380,000 A 3
B 2
C 1
11 Carl Lane, Muswellbrook Sold $325,000 A 3
B 3
7 Roach Street, Parkville Sold $272,000 A 3
14
B 2
B 3
84 Graeme Street, Aberdeen Sold Contact Agent A 2
B 2
C 1
3 Wilga Glen, Muswellbrook Sold $370,000 A 3
B 3
C 1
28 Guernsey Street, Scone Sold $306,000 A 3
B 3
C 1
9/1A McClintock, Muswellbrook Sold $236,000 A 2
B 2
C 1
warburtonre.com.au
Muswellbrook muswellbrook@warburtonre.com.au
A 02 6542 4500 Scone scone@warburtonre.com.au
A 02 6545 2227
Our difference makes a big difference