Prices in the Greater Sydney region are now so high that you don’t get a lot for your money there, with many people priced out of the market completely. That’s why a lot of investors in NSW are looking further up the coast, with Lake Macquarie an attractive option.
Whether you’re a Lake Mac resident doing a bit of extra research or someone who’s only just heard of the region, this overview will help you learn about the best suburbs to buy, invest and explore.
Read on to learn all about Lake Macquarie, part of the Hunter region just 90 minutes drive north of Sydney. This coastal region, with increased affordability and impressive regional growth plans over the long term, should certainly be on your radar.
Lake Macquarie investment prospects
Drone shot of Warner Bay in Lake Macquarie © Lake Macquarie City Council
Sandwiched between the Central Coast and Newcastle, in the lower Hunter region of New South Wales, Lake Macquarie is gaining attention from investors and homebuyers for plenty of reasons.
With picturesque coastal views, attractions for both families and singles, a relaxed coastal lifestyle, consistent economic development and a great location not too far from Sydney, there’s a great mix of attractions. In the opposite direction, a 15-minute drive north will see you in the centre of Newcastle while you’re just 45 minutes away from Newcastle airport.
Lake Macquarie has become a coveted location for those wanting to escape the hustle and bustle of capital cities and their sky-high property prices, but don’t want to be totally isolated in whoop whoop.
Proof of that is when PropTrack named Lake Macquarie suburb Teralba as third in the list of suburbs with the highest change in 5-year median sale price in May 2023. From $500,000, it had jumped to $900,000; a whopping 80% price jump! Since then, prices have just continued to grow. Don’t stop reading just yet however, because it’s not all about Teralba. There are many suburbs within Lake Macquarie that are well worth your attention, even if growth like that makes you a little nervous buying-in right now.
We’ll take a closer look at the property prices and trends, of a few different suburbs of interest within Lake Macquarie, so prospective homebuyers and investors like you will have a complete view to help you on your property hunt.
Redhead (2290): Highest Median Price
Redhead is the most sought-after location in the area. Close to one of the region’s most beautiful beaches, the suburb on the bluff has a high reputation. In 2024, it record its first $3m sale, only to get its second in the same week. That was bettered in early 2025 when a four-bedroom property on Ebsworth Street sold for $4m — a huge profit on a home that the sellers had bought for $52,000 in 1983!
These properties are at the top end of the market, but overall if you’re looking to buy in Redhead be prepared to start your shopping well over a million.
Median house price: $1.6m (RealEstate, February 2025)
Median unit price: $750,000 (RealEstate, February 2025)
Median weekly rent (house): $730 (Real Estate, February 2025)
Population: 3785 (ABS, 2021)
Private dwellings: 1530 (ABS, 2021)
Windale (2306): Lowest Median Price
Originally called Surprise Township, Windale is a suburb that should be on the radars of investors. Houses here are noticeably cheaper than other areas — the median price is almost a million less than Redhead, which is a 10-minute drive in heavy traffic.
There’s plenty to love about Windale. Its location by the Pacific Highway makes it a great transport hub, it’s right next door to the Bennetts Green Homemaker Centre and it’s recently seen the investment and opening of a dedicated Windale Hub.
Median house price: $620,000 (RealEstate, February 2025)
Median weekly rent (house): $520 (Real Estate, February 2025)
Population: 3421 (ABS, 2021)
Private dwellings: 1562 (ABS, 2021)
Catherine Hill Bay (2281): Highest Median House Rent
If you’re looking for an investment property in Lake Macquarie, looking for high median rent can pay dividends. In Catherine Hill Bay, you’re looking at $945 a week, which equals a yield of 3.07%. Generally speaking, lower priced properties provide higher rental yields, whereas higher priced properties provide more rent in absolute dollar terms.
Catherine Hill Bay is known for its historic coal mining village, and the 19th century miner’s cottages are Lake Mac’s oldest continuous settlements.
Median house price: $1.6m (RealEstate, February 2025)
Median weekly rent (house): $945 (Real Estate, February 2025)
Population: 943 (ABS, 2021)
Private dwellings: 404 (ABS, 2021)
Morisset (2264): Lowest Median House Rent
Found on the western side of Lake Macquarie, Morisset is an enticing place for investors. With low house prices, plenty of units and a high demand for rentals, it’s somewhere that people can make a quick return if they buy wisely.
Balcolyn (2264) was included in this section in our 2023 roundup, but huge growth (up 21.6% in 2025 alone) now puts it at $620/week.
Median house price: $815,000 (RealEstate, February 2025)
Median unit price: $545,000 (RealEstate, February 2025)
Median weekly rent (house): $580 (Real Estate, February 2025)
Median weekly rent (unit): $500 (Real Estate, February 2025)
Population: 4078 (ABS, 2021)
Private dwellings: 1902 (ABS, 2021)
The 2025 Unit Market Snapshot of Lake Macquarie
The section above has mainly been focused on houses and while there aren’t too many areas with high density units outside Charlestown in Lake Macquarie, high density developments are definitely increasing. So where should you look for unit purchases in Lake Mac?
Eleebana (2282): Highest Median Price for Units and Apartments
Eleebana is a perfect place for starting families with young children, given that it has a children’s centre, a tennis centre and stunning lake views. The pace of life is a bit quieter here, with residents taking time to enjoy their surroundings.
Median house price: $1,234,000 (RealEstate, February 2025)
Median unit price: $850,000 (RealEstate, February 2025)
Median weekly rent (house): $750 (Real Estate, February 2025)
Population: 6460 (ABS, 2021)
Private dwellings: 2413 (ABS, 2021)
Wyee (2259): Lowest Selling Price for Units
Being a small town, Wyee has the lowest median sale price for units and apartments, at $475,000 with small but consistent growth. Wyee offers a relaxed lifestyle with its beautiful beaches, wildlife corridors, abundance of waterways and proximity to shopping centres and transportation hubs. Found at the southern edge of Lake Macquarie, it’s on the doorstep of the Central Coast and not far from Sydney.
Median house price: $890,000 (RealEstate, February 2025)
Median unit price: $475,000 (RealEstate, February 2025)
Median weekly rent (house): $650 (Real Estate, February 2025)
Population: 2909 (ABS, 2021)
Private dwellings: 1138 (ABS, 2021)
Cameron Park (2285): Highest Median Unit Rent
The unit rent in Cameron Park has seen steady growth of 11.6% in the past year, sitting at a median of $625 per week. Rent for houses sit at a median price of $720 per week. On the low end of the scale, a 2-bedroom house can be rented for $500 per week, which just goes to show the varied nature of different homes within the same suburb.
Cameron Park is 2-minutes away from the M1 Freeway and 20-minute away from Newcastle CBD. It has a children’s playground, a skate park, and a BMX track housed in a new sports complex.
Median house price: $890,000 (RealEstate, February 2025)
Median unit price: $675,000 (RealEstate, February 2025)
Median weekly rent (house): $720 (Real Estate, February 2025)
Median weekly rent (unit): $625 (Real Estate, February 2025)
Population: 9977 (ABS, 2021)
Private dwellings: 3233 (ABS, 2021)
Wangi Wangi (2267): Lowest Median Rent for Units
Wangi Wangi, so good they named it twice, is a surprising choice for low rent. Situated right on the lake, residents benefit from being on the western southwestern bend of the water.
Wangi is known for the Dobell House, the house of the highly-acclaimed Australian painter Sir William Dobell who won the 1943 Archibald prize for his portrait of Joshua Smith. It’s also home to the Wangi Point Flora and Fauna Reserve, one of the six State Conservation Area around Lake Macquarie.
Median house price: $942,500 (RealEstate, February 2025)
Median unit price: $675,000 (RealEstate, February 2025)
Median weekly rent (house): $570 (Real Estate, February 2025)
Median weekly rent (unit): $525 (Real Estate, February 2025)
Population: 2920 (ABS, 2021)
Private dwellings: 1420 (ABS, 2021)
Lake Macquarie properties
As with everywhere in Australia, property prices and rental yields in Lake Macquarie are on the rise. The adage of striking while the iron’s hot seems more relevant than ever for Australian property, with few people able to save for a bigger deposit quicker than the market moves.
The best we can hope for is to find a suburb where our home loans go a bit further than the big cities. There’s far more bang for your buck in Lake Macquarie than in Sydney, with many families still choosing to venture north and find their dream home at a much more reasonable price.
Are you ready to purchase your next home or investment property?
Reach out to Wisebuy Home Loans for expert advice to give you an idea on what you could borrow. Their professional, licensed brokers have access to more than 50 different lenders, market leading rates, and are ready to assist you, 24 hours a day.
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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