When looking at Mid-Coast Council’s property trends, you initially get the impression that this slice of coastal paradise would be a haven for many young families to get a strong foothold on the property ladder.
However, this isn’t the case in this predominantly rural part of New South Wales. The region’s property market is shaped by one of the oldest average populations in Australia.
According to the Mid-Coast Council, 38.5% of their region is aged 60 or over. That is double the national average of around 19%.
But I don’t think this elderly population hinders the region.
It is one of the strongest performing areas in the state with many older residents buying their homes outright. So with that in mind, how does it shape the dynamic of Mid-Coast Council property trends?
Mid-Coast Council profile
Compared to neighbouring regions, the Mid-Coast Council is very much in its infancy. The region only formed in 2016 when three separate areas merged into one amalgamation:
- The Shire of Gloucester
- The Great Lakes Region
- The City of Greater Taree
Coming out of this merger, the region has forged itself a new identity. The city of Taree acts as the regional hub thriving from a regional hospital, a small domestic airport and direct links to Newcastle, Sydney and Brisbane.
However, the Mid-Coast region has thrived thanks to several twin-town clusters spawning around the region’s picturesque river estuaries. The clusters of Forster-Tuncurry and Tea Gardens-Hawks Nest lie on beautiful estuarine areas that are punctuated with stunning beaches and idyllic seascapes.
Should you head inland, the region switches from stunning seascapes to world-heritage countryside. The World-Heritage Barrington Top National Park dominates the skyline of cosy country towns. This makes small towns like Gloucester a peaceful mecca compared to major metropolitan areas. It’s this diverse range of scenery that has seen many older residents leave behind a manic lifestyle in larger urban areas.
Mid-Coast Council General Facts
Population: 96,579 (2021)
Dwellings: 50,484 (2021)
Households: 45,039
Median Age: 54
Average Property Value: $740,000 (Dec 2023)
Mid-Coast Council Property Trends
Taree
Taree is considered the main commercial hub of the Mid-Coast Council. The city has a population of just under 17,000 and straddles the lower reaches of the Manning River. This ideal location has made it popular for local businesses and infrastructure. Its spot on the Pacific Highway creates links to Newcastle and Sydney whilst the North Coast Train Line links the town to other major regions such as Grafton, Coffs Harbour and South-East Queensland.
Despite being the regional hub, Taree’s property prices have remained lower than the regional average. According to RealEstate.com, the average property price is 515,000 with units costing an average of $350,000. What’s amazing here is that even a four-bedroom house costs an average of $595,000 – some 30% lower than the regional average. These figures are staggering given that prices in the town have risen 6% between July 2023 & June 2024.
Population: 16,839 (2023)
Average House Price: $515,000 (Jun 2024)
Average Unit Price: $350,000 (June 2024)
Average Rental Price: $450 p/w (house), $330p/w (unit)
Forster-Tuncurry
No twin-town cluster has a greater influence on the Mid-Coast than the Forster-Tuncurry conurbation. These twin towns sit on either side of the Coolongolook River estuary and are linked by a singular bridge. The area sports just over 20,000 and is headlined by numerous golden beaches and access to numerous coastal lagoons.
With such a stunning coastal backdrop, it makes prices in both towns higher than the regional average. Forster sports a particularly high property average of $850,000 – some $85,000 more than Tuncurry. Unit prices are also much higher with just a 2-bed room costing $512,500. That comes despite a decrease of 6% in 2024 after a peak average of $630 in May 2023. These eclipse the prices of inland towns significantly and the high averages of the Forster-Tuncurry region give a slight misrepresentation of overall Mid-Coast Council property trends.
Population: 19,918 (2023)
Average House Price: $820,000 (June 2024)
Average Unit Price: $558,000 (June 2024)
Average Rental Price: $570 p/w (house), $410 p/w (unit)
Gloucester
In the Mid-Coast region, few towns have a feel quite like Gloucester. Nestled at the bottom of the Barrington Top ranges, this country town has a much quieter feel than its coastal neighbours. The town has a population of just over 3,000 and is seen as the perfect base to explore the nearby World-Heritage national parks that overlook the town.
Situated comfortably inland, the town has become a haven for retired couples with over 30% now being over 65. This has helped bring house prices in the town down to an average of $535,000 – a value that has remained consistent since 2021. This lower regional average is highlighted by a 3-bedroom house costing an average of $475,000 – a perfectly reachable value for pensioners looking to buy one last investment. It’s a perfect representation of how an elderly population has influenced Mid-Coast Council property trends in recent years.
Population: 3,200 (2023)
Average House Price: $535,000 (June 2024)
Average Rental Price: $455 p/w
Wingham
Located upstream from Taree, the town of Wingham has established itself as one of the fastest-growing communities in the Mid-Coast Council area. Thanks to its spot on the Manning River, the town has become a thriving destination with rail links to Newcastle, Sydney & Brisbane. All this has helped the town grow to over 5,000 residents with the population set to rise further.
Despite the growth, Wingham sports some of the cheapest property figures in the area. The average house price is $510,000 with a three-bedroom property costing $495,000. With these figures lower than nearby Taree, it makes the town a perfect choice for anyone who may be priced out in larger locations.
Population: 5,395 (2023)
Average House Price: $510,000 (June 2024)
Average Rental Price: $440 p/w
Tea Gardens-Hawks Nest
On paper, Tea Gardens looks like the perfect town. Tucked away on the Myall River estuary, the Tea Gardens-Hawks Nest region is dominated by holidaymakers and retired couples. So much so that Tea Gardens itself sports an average age of 69 – one of the oldest average populations in Australia. This has made this twin-town cluster of 4,500 an exclusive yet expensive place to live.
This is highlighted by Tea Gardens sporting an average property price of $860,000 – one of the highest figures in the region. A three-bedroom house in the area will set you back $745,000 with a 4-bedroom property costing just under $1 million. Its popularity as a holiday destination has also caused unit prices to dramatically increase with an average price of $610,000. That eclipses average house figures in nearby towns such as Taree & Gloucester.
Population: 4,500 (2021)
Average House Price: $860,000 (June 2024)
Average Unit Price: $610,000 (June 2024)
Average Rental Price: $502 p/w (house), $435 p/w (unit)
Old Bar
Old Bar has developed considerably in the 21st century. On the mouth of the Manning River, Old Bar’s stunning coastal setting has seen it attract property development from all sides. So much so that the town now boasts a population of 5,000 – over double what it was back in the 1990s.
The coastal backdrop has made it a booming place to grab homes with values matching some of its other sea-based rivals. Sporting an average price of $790,000, Old Bar is cheaper than other coastal towns such as Forster & Tea Gardens. Even a 4-bedroom property costs an average of $855,000 matching house prices of its coastal rivals. Units in the town are also much cheaper sitting at an average of $530,000 – some $100,000 than you might find 60km south in Tea Gardens.
Population: 5,126 (2023)
Average House Price: $790,000 (June 2024)
Average Unit Price: $530,000 (June 2024)
Average Rental Price: $520 p/w (house) 420 p/w (unit)
Conclusion
When it comes to buying property in the Mid-Coast Council region, it’s clear to see two main trends developing.
If you head inland to towns like Taree or Gloucester, property prices are quite cheap and matched with good transport links and stunning scenery. However, if you want a place on the coast in Forster or Tea Gardens, you will find yourself forking out quite a lot more than you might initially anticipate.
To seek out the best options for purchasing a home, speak to a Wise Buy Home Lender for guidance today. Our property experts can give you all the advice you need to work out the best way to get on the property ladder today.
Visit our team today to see how they can help you get a better understanding of Mid-Coast Council property trends today.
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