PORT Macquarie is in the middle of one of its strongest property growth periods in decades, with dwelling values jumping nearly 60 percent over the past six years, outpacing Sydney and the national market.
Fresh data from Cotality shows the region has become one of NSW’s standout coastal performers since 2019, fuelled by post-pandemic lifestyle demand.
The Port Macquarie-Hastings local government area’s performance has outpaced the national average (50.4 percent) and Greater Sydney (38.9 percent) since December 2019.
House values have increased by 62.2 percent, while units lifted 50.9 percent, reflecting broad-based buyer interest from both out-of-towners and locals.
Cotality’s data also shows that over the past 20 years, dwelling values in the Port Macquarie-Hastings LGA have risen 113 percent, with houses up 124.3 percent and units up 71.9 percent.
In October 2005, the average house price in Port Macquarie was $402,669; now, it’s $903,076.
Cotality executive research director Tim Lawless said the local uplift since 2019 was part of a broader regional trend.
“Housing values across regional NSW have risen 61 percent since 2019,” he said.
“Almost half of the 20-year growth in regional NSW has been realised in the past six years.”
Mr Lawless said affordability and lifestyle appeal were key drivers.
“Port Macquarie, like many coastal markets, benefited from strong internal migration during COVID and the rise of hybrid work,” he told News Of The Area.
“These markets started from a relatively low base in 2019, which helped drive substantial growth.”
He said the affordability gap with Sydney had narrowed significantly.
“Sydney’s premium over regional NSW has fallen from 86 percent in 2019 to 59 percent today.”
While the market has cooled from the pandemic highs, growth remains positive.
Annual increases between Port Stephens and Coffs Harbour now range from 4.7 to 6.4 percent.
Mr Lawless said it was a more sustainable uplift than previous surges.
“The pace has steadied, but the trend remains positive.”
Port Stephens recorded the strongest uplift of all the coastal LGAs examined north of Newcastle to Coffs Harbour, with dwelling values in Nelson Bay soaring 73.6 percent since 2019.
Coffs Harbour posted a 57 percent increase in the same period, slightly below the growth in Port Macquarie.
By Matt TAYLOR
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