The Port Macquarie property market continues defying much of New South Wales’s other trends. One of the key centres of the Mid-North Coast, the Port Macquarie region is one of the fastest-growing hubs anywhere in NSW.
The Port Macquarie property market continues to grow thanks to its growing tourism sector and the influx of residents relocating from larger hubs like Sydney & Brisbane.
Alongside the Hastings River valley, the region now caters to almost 100,000 people with the population only increasing in recent years. This has caused a boom in property prices in the city and surrounding towns.
With tourism driving demand for housing, the region has seen house prices continue to rise despite other regional parts of NSW struggling recently. So why is the Port Macquarie property market so strong?
Port Macquarie Profile
Sitting halfway between Sydney & Brisbane, Port Macquarie has grown substantially thanks to its idyllic location. Located on the mouth of the Hastings River, the city has grown from a small fishing port to a thriving tourism hub. The city has seen its population skyrocket in the 21st century doubling from 26,000 in 1991 to 52,000 in 2022.
Much of this growth has come thanks to the town being a major tourism draw. With endless beaches nestled amongst the Pacific Coast, residents from across Australia have moved to the town in search of a better life. This has also seen major upgrades to local infrastructure with the development of Port Macquarie Airport as well as the extension of major roads such as the Pacific Highway and Oxley Highway.
This success has impacted other towns scattered along the Hastings Valley. The satellite town of Wauchope boasts strong rail connections to Brisbane, Sydney & Newcastle. Meanwhile, smaller villages like Laurieton & Lake Cathie have grown into thriving towns thanks to the tourism boom.
LGA Snapshot
Population: 88,311
Dwellings: 36,583
Households: 21,516
Median Age: 48
Port Macquarie Property Market Insights
Port Macquarie
The city of Port Macquarie has grown into one of the strongest regional cities in NSW. Now boasting a population of 50,000, the city has seen its property market boom in recent years. It now boasts a median house price of $850,000 – one of the highest median averages in regional NSW. Furthermore, the average unit prices are incredibly strong with an average value of $597,500.
This growth can be attributed to a spate of new developments in the city’s western outskirts. In the suburb of Thrumster, the Sovereign Hills estate expansion has seen prices jump by 7% to an average of $830,000 with a four-bedroom home selling for an average of $880,000. This has been replicated amongst seafront suburbs too underlining the strong growth of the Port Macquarie property market.
Population: 51,194
Average House Price: $850,000
Average Unit Price: $597,500
Average Rental Value: $625 p/w (house), $465 p/w (unit)
Wauchope
The growth of Port Macquarie has seen several towns become important satellite hubs – none more so than Wauchope. Originally a small dairy community, Wacuhope has expanded thanks to its excellent transport links. The town itself sits on the main rail line between Sydney & Brisbane and is also the closest rail stop to Port Macquarie. With the town also straddling the Oxley Highway, it has grown into a town of just under 8,000 people.
Being 15km west of Port Macquarie and inland from the coast, Wauchope has much lower property values with the median house price being $630,000. Furthermore, unit prices are much lower too. In August 2024, the average unit price was $447,500 – a staggering drop of 15% when compared to the price in 2023. This marks the lowest value since January 2021 and a 3-year low in unit prices.
Population: 7,982
Average House Price: $630,000
Average Unit Price: $447,500
Average Rental Value: $550p/w (house), $425 p/w (unit)
Laurieton
South of Port Macquarie, the Camden Haven valley is full of small towns and villages that run along the estuary of the namesake river. At the heart of Camden Haven, the town of Laurieton sits as the focus point of all activity. The town of 2,000 is home to several schools and council offices driving growth within the town’s borders.
Like its larger northern neighbour, Laurieton’s coastal setting means property prices than the regional average. As of August 2024, the average property price is $820,000 with values increasing by 5% compared to 2023. Units are also popular with their average value reaching at $592,500 – a 7% increase compared to 2023. In Laurieton, a two-bedroom unit sells at an average of $577,300 – some $3,000 more than Port Macquarie.
Population: 2,012 (Laurieton), 8,764 (Camden Haven)
Average House Price: $820,000
Average Unit Price: $592,500
Average Rental Value: $490p/w (house). $450p/w (unit)
Lake Cathie
Situated south of Port Macquarie, the town of Lake Cathie has become one of the most popular tourist spots in the Mid-North Coast region. The town’s namesake lake and beachside location attracts tourists from across the region. Meanwhile, it also has the unique claim to the world’s largest boule adding further recognition to the town of 4,000.
With its coastal location, Lake Cathie has some of the most expensive houses in the region. This comes with an average house price of $880,000 with some four-bedroom properties selling close to the $1 million mark. This gives it nearly double the value of some inland towns despite having less infrastructure and facilities.
Population: 4,152
Average House Price: $880,000
Average Rental Value: $630 p/w
Conclusion
Thanks to its rapid growth, the Port Macquarie region has become one of NSW’s most thriving hubs. Catering to a population of 90,000, it has seen house prices continue to grow with averages exceeding many other regional areas. This can be seen with average prices exceeding $800,000 in both Port Macquarie itself as well as smaller towns like Lake Cathie or Laurieton.
For those wanting something cheaper, properties in inland towns such as Wauchope are significantly cheaper with some values being half that of coastal towns. This mix throughout the region showcases why the Port Macquarie property market continues to grow year on year compared to nearby regions.
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