Hunter Valley Property Factsheet 1st Half of 2018
The Hunter Valley property market recorded a median house price of $450,000 and $335,000 for units in Q4 2017, representing an annual price change of 8.4% and 17.5% respectively. Over the same period of time house prices in Maitland City Council LGA grew by 5.5% to $453,000 and unit prices grew by 27.1% to $349,500. Hunter Valley house prices are on par with that of the Maitland City council, whilst units are slightly more affordable. Both Hunter Valley and the wider LGA present a more affordable option to those looking outside of Sydney, with strong capital growth.
The Hunter Valley property market recorded a median house price of $450,000 and $335,000 for units in Q4 2017, representing an annual price change of 8.4% and 17.5% respectively. Over the same period of time house prices in Maitland City Council LGA grew by 5.5% to $453,000 and unit prices grew by 27.1% to $349,500. Hunter Valley house prices are on par with that of the Maitland City council, whilst units are slightly more affordable. Both Hunter Valley and the wider LGA present a more affordable option to those looking outside of Sydney, with strong capital growth.
Despite a strong growth in median house price, some sales are expected to remain in the more affordable price brackets as a result of the anticipated supply in new residential stock.
House rents in Hunter valley grew by 5.3% over the past 12 months to Q4 2017, along with a 6.0% increase in the number rentals, indicating a highly demanded market. Low vacancy rates of 0.9% continue to demonstrate strong rental demand in the area, especially when compared to Sydney (2.6%). Astute investors are benefiting from yields of 4.6% for house and 5.0% for units. These figures are much more attractive than Sydney’s 2.9% and 3.8% respectively, which further confirms Hunter Valley as having conducive conditions for sustainable investment returns.
Over the 1st half of 2018 Hunter valley will see approximately $71.8M in new development commence. Residential development accounts for the majority of projects, estimated at $53.3M, followed by infrastructure development valued at an approximate $16.4M. Mixed use projects set for the area is valued at a total of $33.6M.
A key residential project commencing over 1st half of 2018 is the New England Highway Subdivision. The proposal involves the subdivision of 1,200 lots and associated road work and services. The project is valued at approx. $35.0M and is anticipated to commence in March 2018.
