As property prices in major cities and even larger regional centers price many investors out, more and more eyes will be turning towards hidden gems such as the Mid North Coast. Long-prized by holiday-makers as a region full of sleepy best-kept-secret locations, the cat is well and truly out of the bag post-pandemic, as more and more Australians look to live outside the capitals.
Navigating the rental market
Understanding the economic climate is fundamentally important when making investment decisions. Our guide to the Mid North Coast property market will help you find the best suburbs to invest in and ensure you maximise the value of your property investments. We consider factors including 12-month increase in property value and 12-month increase in rental value to give you insights into the most-promising real estate conditions in the region.
Mid North Coast property segment
The Mid North Coast boasts a thriving real estate market in Port Macquarie and the towns located North and South. A diverse of investments are possible in the region. From quieter oceanside communities to the region’s commercial hubs, the region may appeal to discerning investors seeking capital growth and rental income growth.
Regional market highlights
Exploring the picturesque Mid North Coast of NSW demands a look at Port Macquarie, a town CoreLogic’s Best of the Best report identified with great potential. An investment hotspot, offering both scenic beauty and potential returns, it boasted the highest total value of housing sales in the Mid North Coast region. Houses in Port Macquarie witnessed a remarkable 602 sales in 2023, totaling $562,458,323, with a median value of $877,087. Meanwhile, 314 units were sold, accumulating $195,902,406, with a median value of $589,278. The thriving market here is indicative of a lucrative investment hub.
Strongest growth and decline in housing values
The region from Forster to Kendall witnessed diverse growth in housing values, while Bellingen navigated a modest decline. Both of these results may appeal to investors seeking capital gains or promising opportunity to invest in a market in decline.
- Forster: Experienced a notable 7.7% surge in median housing value, reaching $897,517.
- Tuncurry: Saw a 10.2% increase in housing value, with median housing value here equal to $889,460.
- Kendall: Recorded a 8.3% rise to a median value of $686,366.
- Bellingen: Observed a substantial decline of 12.7%, resulting in median housing value faltering at $589,278.
- Taree: On the apartment front, produced an 8.6% increase in unit value. Median value here reached $393,008.
- Yamba: Noted a 7.1% downturn in median unit value, to $649,882.
- South West Rocks: Witnessed a 6.4% increase in median unit value which was $528,425.
Rental growth unveiled
These charming coastal villages experienced significant growth in housing rents, promising both stability and potential returns. Lake Cathie saw the largest increases in rent in the housing market, while Dorrigo led the market in the unit segment.
- Bonny Hills: Saw a significant 8.8% rise in housing value, reaching $835 per week.
- Lake Cathie: Experienced a 9.2% increase, with median weekly rent value reaching $680.
- Dorrigo: Also noted a 5.4% uptick, with housing rent value reaching $449.
- Taree: In terms of unit rentals, observed a 5% increase, with median rent reaching $358.
- Port Macquarie: Led the unit market with a substantial 3% surge, to $485 per week.
The Mid North Coast real estate landscape offers investors a diverse range of opportunities. From the bustling markets of Port Macquarie to the serene landscapes of Great Lakes, the region promises a blend of coastal beauty and financial potential for astute investors.
If you’re ready to start your investment journey, be sure to speak to your local Newcastle Permanent lender to see how we can help.
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