Why Town Beach is the Mid North Coast’s hottest property pocket

IF there is one corner of the Mid North Coast where the property heat is unmistakably on, it’s the Town Beach area in Port Macquarie.

The benchmark moment came just over a year ago, when McGrath Port Macquarie sold the penthouse at Salt apartments, directly opposite the beach, for a Port-record $6 million.

For McGrath managing principal Todd Bates and his sales colleague Steve Newman, it was more than a headline sale.

It was proof that Port Macquarie’s in-town coastal market had entered new territory.

“It’s a stunning apartment, but those sorts of numbers had never been reached in Port Macquarie before,” Bates told News Of The Area.

“It really showed how strong demand is for quality property in town.

“It was breaking new ground.”

Pandemic shift drives long-term growth

That surge is reflected in the latest property data for the Port Macquarie Hastings local government area.

According to Cotality, local average house values have risen by 62.2 per cent over the past six years, outpacing the national average (58.1 per cent) and Greater Sydney (49.9 per cent).

Todd Bates, who has more than 25 years’ experience in the local market and has been ranked in the top 5 per cent of salespeople nationally, said the numbers align squarely with what he and his agents had seen on the ground.

“COVID taught people they didn’t need to be in an office to work,” he said this week.

“They could enjoy a high-quality lifestyle, and Port Macquarie offers one of the best coastal lifestyles anywhere.

“That really drove prices here.”

Town Beach: lifestyle without compromise

For Steve Newman, the appeal of the Town Beach precinct is simple: it removes the need to choose between convenience and lifestyle.

“If you’re in an in-town location, walking distance to the water and walking distance to town, there’s strong demand,” he said.

“People are embracing lifestyle.”

Developers have taken note, targeting central Port sites as buyer appetite for premium apartments grows.

Projects such as Watervue, due to commence later this year but already selling off the plan, reinforce the belief that Town Beach and surrounding streets represent the region’s sweet spot.

“We’ve worked on a number of developments and seen a progressive increase in values, particularly in apartments,” Newman said.

“That demand isn’t slowing.”

Who’s buying, and why

Much of the demand at the premium end of the local market is being driven by buyers relocating from metropolitan areas, particularly Sydney.

“Predominantly, buyers are coming from Sydney,” Bates said.

“But we’re also seeing apartment buyers in the Town Beach area coming from Lighthouse Beach.

“Downsizing is a major driver.

“I’ve just done it myself.

“It frees you up from mowing lawns, and you can walk to Town Beach and walk into restaurants.

“It’s a really enjoyable lifestyle.”

Affordable options still exist

While Town Beach commands a premium, Bates said more affordable options remain for first-home buyers and investors.

Developments such as Akoya at 28-30 Waugh Street, nearing completion, are targeting that segment of the market.

“But at places like Akoya, there’s still an entry point for buyers who want to get into the market,” Bates said.

“You do have your luxury offerings up on the top floor, where there’s a three-bedroom water-view apartment.

“At Town Beach, you’re paying a lot more for exactly the same thing.”

Local market forecast

Both Bates and Newman believe the extraordinary pandemic-era property boom is unlikely to be repeated in 2026, but that steady growth is on the cards.

“I think we’ll see a steady increase this year,” Newman said.

“Interest rates will always have an impact, but when you look at the growth planned for Port and the town centre master plan, it’s only becoming more popular.”
Bates reflected on the pandemic years as unprecedented.

“We had buyers purchasing without even setting foot in properties, buying straight off 3D tours and paying well over just to secure them,” he said.
“Sales were up 400 per cent.

“We were doing a month’s worth of normal sales in what would usually take six months.

“I’ve never seen anything like it.”

By Matt TAYLOR