FOR nearly five decades, Martin Newell has called the Mid North Coast home.
With a career that began in the police and military before moving into real estate in 2003, Mr Newell has built a reputation as one of the region’s most trusted and best-performing property agents.
Working at Percival Property, he is in the top one per cent across multiple franchise networks.
Mr Newell said he is not surprised by the latest Cotality data showing Port Macquarie dwelling values have risen 59.9 percent since 2019.
“It absolutely backs up what we’re seeing on the ground,” he told News Of The Area.
“COVID triggered the growth.
“Two things happened: one was that interest rates dropped, so affordability went up and people had increased borrowing capacity.
“People being human, [they] went and spent that extra money [which] drove the market.
“The other thing that happened, [which] really affected my market because I do a lot of lifestyle and rural properties, is that people started to analyse their lives and ask, ‘is this how we want to live, and do we actually want to be in this concrete jungle?’
“It drove my rural and lifestyle market. And it still drives it today.
“Quality of life is front and centre of buyers’ minds.”
Mr Newell says buyer demand in the Port Macquarie market is consistent across key price brackets.
The hottest residential range sits between $750,000 and $1m.
“If you list in that range, it will sell,” he said. “Over a million still moves, but buyers are more selective.”
In his specialty area – lifestyle and rural – the $1.3m to $1.7m band is the most active.
“There’s a big centre point around $1.4m –$1.5m.
“Despite tighter settings at the top end, I’ve sold five or six properties above $2m this year.”
Mix of buyers
Mr Newell said buyers represent a 50-50 split between locals and out-of-towners.
“Plenty of locals are active, but Sydney and now the Central Coast are major drivers.
“A lot of these people lived here previously, moved south for work, and now want to come back for a better lifestyle.”
Selling hotspots continue to include Lighthouse Beach, Shelly Beach, units closer to town, as well as the “transient” Sovereign Hills precinct.
“I use the word transient where people might have come in, they’re working here, and then they move on somewhere else.
“That’s the younger buyer’s market.”
Lake Cathie and Bonny Hills remain two of the region’s most fiercely competitive markets.
“The last two months, it’s been crazy,” said Debbi Phillips of Lake Cathie Bonny Hills Real Estate.
“A lot of homes are selling off-market, and plenty are going above asking price.
“Demand is huge.”
Ms Phillips said the buyer mix is evenly split between locals and Greater Sydney.
“But stock is extremely low in our area.
“That’s why the prices are so strong.”
Infrastructure lacking
Another strong theme among several agents is that infrastructure hasn’t kept pace with population growth.
Ms Phillips said that even with a new supermarket and other services on the way to help support the release of the Rainbow Beach Estate in Lake Cathie, the Camden Haven area has been under the pump for years.
“Infrastructure has not kept pace,” she said.
“Not with the pace of growth we’re seeing.”
That concern is echoed by two other local agents.
“Governments keep putting Band-Aid solutions to problems like the local sewer and water systems,” Wayne Heilman of Harcourts Laurieton said.
“The Cowarra Dam isn’t a natural catchment.
“In drought it struggles, and that affects the whole region.”
Fellow agent Gaven Whalley points to broader service strain.
“I used to live in Lake Cathie and we had brownouts because the power grid couldn’t cope,” the One Agency Laurieton director said.
“Now there are even more houses there.
“Places like Kew have waited years for sewer and water upgrades.
“Development is happening faster than services can support. Planners were caught out years ago.
“They approved subdivisions before the supporting infrastructure was ready; now the region is paying for it, whether it’s in basic services or roads.”
2026 outlook
Despite pressure points in the local property market, the outlook for 2026 remains optimistic.
“Port Macquarie is always in demand,” Martin Newell said.
“I’d expect a slight rise next year.
“The government’s five percent deposit scheme has created more demand, even if it pushes prices up for those buyers at the lower end of the market.”
He also expects interest rates to influence buyer behaviour through early 2026.
“The Reserve Bank probably won’t cut rates until well into next year, so that will keep a lid on things.
“But demand here is steady; that won’t change.”
By Matt TAYLOR
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