Port Stephens Property Factsheet 2nd Half of 2018

The Port Stephens property market recorded a median house price of $671,000 and $470,000 for units in Q3 2018, which represents an annual (Q3 2017-Q3 2018) price growth of 10.0% and 14.1% respectively. Compared to the Port Stephens 1^st half 2018 Research Factsheet, which reported an annual (Q1 2017 – Q1 2018) median price growth of 2.7% (house) and 6.4% (units), the property market in Port Stephens have strengthened.

Sydney Metro median house price was $1,295,500 for house and $737,000 for units, as at June 2018. Port Stephens has a more affordable entry price compared to Sydney Metro and contrasting growth, as the Sydney Metro market experienced a slight cooling of -2.4% (house) and -1.4% (units). This confirms Port Stephens as an ideal alternate location for investment.

The Port Stephens rental market continue to serve investors well, with median rent prices increasing by 2.3% for houses to $450 per week and by 1.4% for units to $360 per week. These price increases have occurred at a time where the number of properties rented have also increased, by 44.3% for houses and by 16.8% for units. Thus, there is a real increase in rental value in Port Stephens and not a rental price hike due to undersupply in stock. Rental yields in Port Stephens were recorded at 3.7% (house) and 4.3% (units) in June 2018, much higher than Sydney Metro (2.7% house and 3.7% units).

Port Stephens is set to invest approx. $58.9M of new developments scheduled to commence in the 2^nd half of 2018. Commercial projects account for the majority ($36.6M or 62.1%). This is followed by residential ($16.6M or 28.2%), infrastructure ($5.3M or 9.0%), and mixed-use ($0.4M).