The summer 2021-2022 price predictor index identified 172 locations with rising sales activity, an attribute which report author and hotspotting.com.au Australian property analyst Terry Ryder believes offers good insight for predicting future price movements.
Mr Ryder said in 2021 there were triple the number of rising markets per quarter than the pre-2021 average, with the Hunter Region proving “a standout performer on sales activity”.
All six suburbs in the Cessnock region and all three suburbs in Singleton were classed as rising markets by the report while seven out of the 11 suburbs in Maitland also proved to have good future growth potential. Realestate.com.au data puts Cessnock’s median house value at $490,000 and its median rent at $400 per week, delivering a 4.2 per cent yield.
The Hunter Region was a standout performer on sales activity. Picture: iStock
Nearby Muswellbrook was also named a growth market with sales volumes in Singleton Heights more than doubling in a pattern of consistent growth over the past six quarters.
Other regions to experience surging sales activity included Lismore, Albury and Clarence Valley. At the time of the report, Lismore’s median house price was $390,000 while all five suburbs were ranked as rising markets. Just a 45-minute drive from Byron Bay, Lismore has a much lower entry point than the multimillion-dollar median of Byron while still having plenty of lifestyle potential. It is also home to the main campus of Southern Cross University and is considered a high demand market by realestate.com.au.
With a median house price below $400,000, the north coast town of Lismore is considered a rising market. Picture: Destination NSW.
The Central Coast remained a prominent region in the report with 23 locations considered rising markets while the boom centres of Byron Bay, Ballina and Shellharbour were said to have passed their peak based on sales activity data.
In terms of price growth over the past year, the majority of regional NSW areas performed well.
“Our analysis has found 97 per cent of house markets and 88 per cent of units markets have had annual growth in their median prices,” Mr Ryder said. “There are 89 locations in regional NSW which have had growth in their median house prices above 20 per cent, compared with 57 in the Sydney metropolitan area.”
The median price in Byron Bay rose 48 per cent in 2021. Picture: NCA NewsWire / Dylan Robinson
Notable rises included Byron Bay, which lifted 48 per cent over the past year to a median price of $2,475,000 and the Central Coast suburbs of Avoca Beach, Ettalong Beach, Gwandalan, Terrigal, Kincumber and Wamberal which rose 30-33 per cent.
Originally published as Report reveals top capital growth opportunities in regional NSW
Source: News.com.au