Cessnock property trends

2 May 2024

By Brad East | CEO

Getting an insight into Cessnock property reveals a look into the beating heart of one of New South Wales’s understated markets. Based in the thriving Hunter Valley region, the City of Cessnock crosses city infrastructure with the feel of small country towns.

The entire area is within easy reach of Newcastle and is also a commutable distance from Sydney making it a great place for families and retirees to base themselves with comfort. Throw in a growing local economy and it makes Cessnock attractive for any buyer. So just why are Cessnock property trends catching the eyes of homebuyers across Australia?

Cessnock profile

The City of Cessnock is a region that is split into two areas: the town of Cessnock itself and many smaller towns around its edges. The City of Cessnock has a population of 67,591 (ABS 2023) and is considered the westernmost point of the Greater Newcastle Area. Despite being linked to Newcastle, the region itself has a rural feel compared to nearby regions such as Maitland, Newcastle & Lake Macquarie.

Cessnock has been known collectively as “The Coalfields” due to its original growth stemming from coal mining. However, mining has fallen away and the small villages around Cessnock are known for hosting many of the Hunter Valley’s top wineries. With small towns such as Kurri Kurri and Weston also sporting thriving local amenities alongside Cessnock, there’s plenty to sustain homeowners looking to escape the city.

Cessnock Demographics

Like many parts of the Hunter Valley, Cessnock property trends are projected to skyrocket in the coming years. According to Cessnock City Council, the LGA’s population is expected to rise by 63% from a population of 70,765 (2024, ABS) to 115,700 in 2046.

Much of this group has come down to families escaping the city and looking to settle down and raise their children. This comes with the Cessnock City Council revealing that the highest resident age group is people between 35-49 and that the area also has a higher state average of children under the age of 18 living at home. It has also been a popular place for families to buy homes with Cessnock having 33% of residents currently paying off a mortgage.

The area itself is predominantly made up of Australian-born residents with over 85% of residents being born in Australia (2021, Cessnock City Council). Furthermore, many of these residents have either British or Irish ancestry according to the 2021 Australian Census whilst harbouring an Indigenous population of around 8%.

General Facts

Population: 70,765 (2024)

Dwellings:  25,817 (2021)

Households: 23,569 (2021)

Median Age: 38 years (2021)

Median Wage: $84000 (2021)

Average Detached House Value: $585,000

Average Unit Value: $499,000

Suburban Trends

Cessnock

The town of Cessnock is very much the focal point of the City of Cessnock. The town of Cessnock itself has a population of 23,211 (2021, ABS) and has all the major facilities in the region. This includes Cessnock Regional Airport, direct road links to both Newcastle & Sydney as well as sporting the region’s local TAFE facility.

Being the main town in the LGA, house prices in Cessnock are some of the highest in the area – but have remained relatively stable. House prices sit an average of $585,000 with prices fluctuating around the 1% mark between 2023 and 2024. It makes the town particularly affordable for families with 3-bedroom homes selling for around $580,000 – a rate that is lower than the regional average.

Kurri Kurri

The aptly named Kurri Kurri is very much the second town in the Cessnock region. Sporting a population of 6,044, the town is located halfway between Cessnock and Maitland. For much of its history, the town was the region’s hub for manufacturing sporting large mining and aluminium smelting facilities. This has traditionally kept prices lower than other nearby towns.

This has been reflected with the average house price sitting at around $580,000 according to RealEstate.com with prices falling 2% between 2022 and 2024. However, the market for units has been booming in the town in recent years. The average price of a 2-bedroom unit sits at $437,000 – an increase of 1.2% from 2022 and a 140% increase stretching back to 2019.

Weston

The small town of Weston finds itself nestled halfway between Cessnock and Kurri Kurri. Boasting good links to both towns, this has allowed the small settlement to grow exponentially in recent years now sporting a population of 3,600. It is also home to Kurri Kurri Hospital providing the areas with excellent road links and public transport.

Being on this major corridor has helped prices stay relatively low giving it a slight rural feel than other nearby towns. With the average house price sitting at $565,000 according to RealEstate.com, it is one of the cheapest towns to buy a home within the City of Cessnock. This has been a major attraction for families with the average cost of a 3-bedroom house costing $555,000 – nearly 1% cheaper than in nearby Cessnock.

Ellalong

Sitting to the south of Cessnock, the town of Ellalong gives residents the feel of very much living out in the country. Sporting a population of just over 1,000, Ellalong is one of the region’s more picturesque towns. The town itself is home to the Ellalong Lagoon attracting rare birdlife whilst the Watagan Mountains dominate the local skyline.

Properties in the town generally enjoy much larger land packages than those in the bigger towns to the north. This makes Ellalong one of the priciest towns in the City of Cessnock sporting an average house price of $755,000. This price has skyrocketed since 2022 jumping almost 25% between Mar 2022 and March 2024. It means a 4-bedroom house would set buyers back $780,000 – a near 50% of what might be found in Cessnock or Kurri Kurri itself.

Branxton

Heading north of Cessnock itself, the town of Braxton finds itself straddling several different regions. The town is equal distance between Cessnock, Maitland and Singleton and sits directly on the New England Highway. Sporting excellent links to a variety of communities, Branxton finds itself as one of the most desirable housing locations anywhere in the Hunter Valley.

This hybrid rural/urban location means that house prices in Braxton are higher than in many of the larger towns close to it. The average house price in the area currently sits at $740,000 – a figure that has sat steady since the start of 2022. However, the current price of $740,000 is a considerable drop from the peak average of just over $800,000 that was recorded in September 2021.

Evaluating Cessnock Property Trends

With an excellent variety of different locations to choose from, residents within the City of Cessnock don’t have to stretch far to find their ideal home. If families are looking for an affordable home, acquiring homes or units in Cessnock or Kurri Kurri is ideal and won’t break the break.

However, those with a greater budget can explore quieter towns such as Ellalong and Branxton and pay a bit more to experience a more peaceful town vibe with stunning backdrops. However, whatever you look to choose, it’s not difficult to see why Cessnock property trends mark the town as a must for families looking to escape the urban hustle and bustle.

Looking to find your ideal home in Cessnock or the Hunter Region? Speak to one of Wise Buy’s expert home loan lenders today. They can put their expertise to great use to help you secure the home of your dreams. Take a look and see what our team in nearby Maitland can do for you!  

With Wisebuy Home Loans, you can choose and select from great home loan deals tailored to your needs. Call them at 02 4961 4985 or email admin@wisebuygroup.com.au.

 

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