Port Macquarie, Thrumster and Wauchope – who wins?
Property prices in Port Macquarie have levelled right off with very little growth in median dwelling prices since November 2017 – that’s right – 2017. Back in January 2014 the…
Feb 28, 2019
Property prices in Port Macquarie have levelled right off with very little growth in median dwelling prices since November 2017 – that’s right – 2017. Back in January 2014 the median price was $415,000. In January 2018 it was $570,000 which is a whopping 37% increase! The peak was in May 2018 at $579,000 and as late as October 2018 was down a fraction to $575,000.
Thrumster has a slightly less impressive story to tell – in January 2014 the median price was $472,500, topping out at $582,500 in April 2018 which is a slightly less meteoric 23% rise.
Wauchope is the star however, rising from $287,500 in January 2014 up to $420,000 in May 2018 or a 46% rise. There is a clear trend, however, across all of the local markets, that median prices have peaked, flattened and in some cases shown small falls. We will be monitoring the data over the coming months along with listing numbers, average time on the market and vendor discounts (difference between asking price and selling price) to help us to read the prevailing market conditions. Next month, we will look at unit prices and later, land.
(All data supplied by Corelogic).