There’s been massive interest in Maitland property trends in recent times. Found in the heart of the Hunter Region, the City of Maitland finds itself benefitting exponentially from its central location. Just a stones-throw from Newcastle and easy reach of both Sydney and Byron Bay, Maitland is a growing market that prides itself on diversified income and affordable housing. So what is it that makes Maitland property trends an attractive proposition for prospective homeowners?
Maitland profile
The city of Maitland finds itself in an ideal spot in New South Wales. Sitting on the Hunter River, Maitland is a city of 93,500 (ABS 2023) residents that shares links to many major networks. The town is based near the start of the New England Highway giving residents easy access to natural landmarks like Barrington Tops National Park.
Only 22km from Newcastle by road or rail, the town acts as a perfect commuter destination to one of Australia’s biggest industrial hubs. Furthermore, it sits directly on several rail lines giving commuters direct links to Sydney and several other regional centres. This excellent access makes it a perfect base for city workers wanting a more peaceful home life.
The town also has a diversified local economy. It has a variety of industries basing itself within the city including an excellent range of retail hubs, a vast range of industries and is a popular tourist base hosting an average of 700,000 visitors annually. All this makes it a thriving town to live in.
Maitland Demographics
Maitland is a city that is projected to be one of the fastest inland regions in all of New South Wales. Whilst currently boasting a population of 93,500 (ABS, 2023), a local government report estimates this figure to sharply increase to 144,500 by 2041. It follows on from the town’s population sporting a 60% increase between 2001 and 2021.
Much of this increase comes down to the town proving to be a popular place for families to settle down. This comes with the median age of the City of Maitland being 36 years old – two years below the national average. Furthermore, the LGA’s 2041 plan revealed that the city’s core demographic is families – 33% of all residents are couples with children.
One of the big draws to this is Maitland’s high wage/property value ratio. In Maitland’s 2041 report, the average household wage is $91,832 with an average detached price of $680,000. This means property values are just 7.5 times the average household wage. This is the best return in the greater Newcastle area nearly half that of Port Stephens and a quarter of Newcastle & Lake Macquarie.
General Facts
Population: 93,500 (2023)
Dwellings: 36, 680 (2021)
Households: 34,370 (2021)
Median Age: 36 years
Average Wage: 91,832 (2021)
Average Detached Property Value: $680,000
Average Unit Value: 460,000
Suburban trends
Maitland
Maitland’s main central hub boasts many of the main shopping precincts and is also home to the city’s train station providing excellent links to Newcastle & Sydney. It’s made this a relatively stable area for property albeit one of the cheapest in the city.
With the CBD hosting a population of 2,000; property prices are some of the lowest. According to RealEstate.com, the average property price is around $580,000 (Apr’24). This is just below the area’s peak price of 620,000 in April 2022. However, this is a staggering increase compared to before the pandemic sparking an increase of over 150% with an average of $374,250 (Jun’19).
East Maitland
Just east of the CBD, East Maitland is one of the largest suburbs in the city – both in area and population. Sporting a population of 11,860 (ABS 2021), it’s an area that also sports excellent shopping facilities due to the location of the Stockland Green Hills shopping centre.
Properties in East Maitland are higher than the region’s average with Realestate.com listing an average property value of $697,500. Whilst house values have fallen, unit and apartment prices have skyrocketed in recent years. The average unit price in April 2024 sits at $520,000 – a 7.8% increase compared to 2023 and a decade-high figure in the 2020s.
Rutherford
On the western side of the city, Rutherford has found itself spreading as development straddles the New England Highway. Also sporting Maitland Airport, Rutherford is home to a larger mix of industrial spaces, schools and housing.
With a population of 11,884 (ABS 2016), Rutherford is the most populous suburb in Maitland. Yet it doesn’t waiver figures with the average house price stretching to $650,000 – just slightly higher than the city average. Prices for renting in the suburbs have increased dramatically though with an average of 550 p/w. That is an increase of 6% over the last 12 months- nearly three times the regional average in comparison to the previous decade – set at 2% between 2011 and 2021 according to Maitland City Council.
Chisholm
The eastern suburb of Chisholm is a sign of the changing times in Maitland. The area has been earmarked for huge portions of development including the construction of multiple new schools and Chisholm Plaza Shopping Plaza with major retailers.
All this is capitalizing on the suburb’s reputation as one of the more upmarket regions in Maitland. This comes with the sprawling rural community sporting a median price of $930,000 – the highest in the city. However, the rapid rise of construction has seen property prices fall by 3% – not too surprising given the large population increase expected in the coming years.
Thornton
Nowhere in Maitland has grown as fast in recent times as the south-eastern suburb of Thornton has. Its location on the New England Highway and a station on the Hunter rail line has made it a centrepiece of the city’s expansion giving it excellent links to Newcastle for commuters to access.
The area has been one of the best-performing for generating sales with HTAG reporting an average of 21 homes sold from Apr 2023-2024. The surge in sales has seen Thornton’s population swell from 8,000 in 2016 to 10,690 in 2021 driving house prices up to $758,500 – $100,000 over the city’s average. Unit prices also sit higher than normal with an average 2-bedroom unit costing 525,000 – a price that has remained steady since April 2022.
Metford
One of Maitland’s growing suburbs, Metford is a suburb that symbolizes a mix of the old and the new. Heritage-listed buildings such as Metford Train Station mark the city’s humble beginnings but the development of a skate park shows how the city itself is an anchor for families in the Hunter region.
Unlike some of its neighbouring suburbs, Metford boasts considerably cheaper housing for families to purchase. A standard 3-bedroom house costs an average of $640,000 falling just under the city average. However, rent has increased dramatically with a 3-bedroom house costing $530p/w – a 6% increase from 2022.
Understanding Maitland Property Trends
As the figures show, Maitland is a city that is developing rapidly and the general price increases across the city reflect that. Properties are still cheaper on the western side where there are higher industrial sites close to the New England Highway.
There has also been a considerable increase in prices across the eastern side of Maitland particularly in corridors marked for high levels of expansion. Areas such as Thornton highlight what the city’s future could hold especially as more families continue to flock to the region.
Despite this, Maitland still sits as the prime real estate for the Hunter Region. Thanks to more affordable housing and excellent infrastructure, the city is expected to grow tremendously over the coming years – an aspect that will continue to drive Maitland property trends higher in the coming future.
To seek out the best options for purchasing a home, speak to a Wise Buy Home Lender for guidance today. Our Maitland 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 Maitland team today to see how they can help you find a home in one of New South Wales fastest growing towns.
