Land values in the Lake Macquarie local government area
Hunter region
General overview
There was a moderate increase in land values in the Lake Macquarie local government area between 2017 and 2018, reflecting the slowing of growth from previous years. The increase in land values was broadly consistent across all market segments with the exception of industrial zoned lands which experienced a slight increase in land values.
The moderate upward trend of land values follows a sustained period of strong demand in the region over the past several years. A positive cycle of increasing property prices in conjunction with ongoing low interest rates has reinforced confidence and demand across the wider region. Lake Macquarie is typically heavily influenced by economic factors within Newcastle which has recently undergone a sustained period of strong infrastructure spending and construction activity which supported market confidence in neighbouring Lake Macquarie including investors and developers.
The increase in land values varied across the district, with a broad trend of stronger increases in the more established eastern coastal areas against more moderate increases in the western areas of the district where new residential land releases occur.
Land value trends
| Property zone | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Residential | $25,332,007,179 | $26,812,355,474 | 5.8% |
| Commercial | $925,240,830 | $988,524,210 | 6.8% |
| Industrial | $479,447,311 | $497,495,471 | 3.8% |
| Rural | $724,901,010 | $766,134,050 | 5.7% |
| Other | $916,687,845 | $941,256,639 | 2.7% |
| Total | $28,378,284,175 | $30,005,765,844 | 5.7% |
Number of properties by zone
Total number of properties: 81,277
Residential land values
Residential overview
Residential land values experienced a moderate increase overall after a sustained period of strong local confidence and buyer activity in the continuing low interest rate environment and strong construction activity in neighbouring Newcastle. However, there have been indications of a moderation in demand with sales activity decreasing, while demand in areas with new land supply are comparatively weaker than in more established areas.
The coastal areas within Lake Macquarie which showed the highest growth, were Blacksmiths, Pelican, Belmont and Caves Beach. All of these locations were considered relatively inexpensive in comparison to coastal suburbs within closer proximity to Newcastle such as Whitebridge, Redhead and Dudley.
Areas with significant new land supply such as Cameron Park, Cooranbong, Morisset Park, Murrays Beach, Catherine Hill Bay and Mount Hutton largely demonstrated steady land values. This indicates that demand and supply have converged towards a more balanced state after these areas experienced strong increases in values over previous years.
Waterfront land was also steady as sales activity declined from the previous year. These properties have generally higher than average values and typically experience more pronounced value changes than the broader residential market particularly as market fundamentals show signs of shifting.
Median land values and sale prices
The above chart shows movement in the property market and land values over a five year period. In areas where there are a low number of sales, median sale prices may not accurately reflect the property market. Land values may not always move directly in line with sale prices due to the influence of other factors, such as building costs.
Typical residential land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Merinda Cl, Adamstown Heights | $479,000 | $479,000 | 0.0% |
| Macquarie St, Arcadia Vale | $242,000 | $242,000 | 0.0% |
| Lake Rd, Argenton | $270,000 | $284,000 | 5.2% |
| Thomas St, Argenton | $265,000 | $290,000 | 9.4% |
| Gosford St, Awaba | $240,000 | $265,000 | 10.4% |
| Bay St, Balcolyn | $224,000 | $235,000 | 4.9% |
| Letchworth Pde, Balmoral | $242,000 | $252,000 | 4.1% |
| Macquarie St, Barnsley | $223,000 | $243,000 | 9.0% |
| Nelson St, Barnsley | $257,000 | $280,000 | 9.0% |
| Halyard Way, Belmont | $908,000 | $953,000 | 5.0% |
| Hill St, Belmont | $7,700 | $7,700 | 0.0% |
| Pacific Hwy, Belmont | $366,000 | $395,000 | 7.9% |
| Ross St, Belmont | $515,000 | $579,000 | 12.4% |
| Stanley St, Belmont | $290,000 | $320,000 | 10.3% |
| Vista Pde, Belmont | $319,000 | $351,000 | 10.0% |
| Walter St, Belmont | $1,060,000 | $1,100,000 | 3.8% |
| Camberwarra Dr, Belmont North | $348,000 | $348,000 | 0.0% |
| Canara Cl, Belmont North | $370,000 | $414,000 | 11.9% |
| John Fisher Rd, Belmont North | $280,000 | $314,000 | 12.1% |
| Pacific Hwy, Belmont North | $5,000 | $5,000 | 0.0% |
| Michael St, Blackalls Park | $204,000 | $204,000 | 0.0% |
| Rhodes St, Blackalls Park | $235,000 | $265,000 | 12.8% |
| Karog St, Blacksmiths | $350,000 | $402,000 | 14.9% |
| Kolang St, Blacksmiths | $405,000 | $490,000 | 21.0% |
| Lochend Pl, Bolton Point | $168,000 | $188,000 | 11.9% |
| Middle Point Rd, Bolton Point | $256,000 | $273,000 | 6.6% |
| Nevada Cl, Bonnells Bay | $268,000 | $268,000 | 0.0% |
| Parrott St, Boolaroo | $255,000 | $281,000 | 10.2% |
| Sixth St, Boolaroo | $287,000 | $298,000 | 3.8% |
| Muswellbrook Cres, Booragul | $229,000 | $238,000 | 3.9% |
| Bulgonia Rd, Brightwaters | $223,000 | $232,000 | 4.0% |
| Caribou Rd, Cameron Park | $241,000 | $241,000 | 0.0% |
| Mary St, Cardiff | $255,000 | $291,000 | 14.1% |
| Wansbeck Valley Rd, Cardiff | $270,000 | $290,000 | 7.4% |
| Main Rd, Cardiff Heights | $267,000 | $291,000 | 9.0% |
| First St, Cardiff South | $288,000 | $310,000 | 7.6% |
| Florina Cl, Cardiff South | $304,000 | $320,000 | 5.3% |
| Amelia St, Carey Bay | $255,000 | $275,000 | 7.8% |
| Montefiore Pkwy, Catherine Hill Bay | $4,500,000 | $4,500,000 | 0.0% |
| Northwood Rd, Catherine Hill Bay | $519,000 | $545,000 | 5.0% |
| Surfside Dr, Catherine Hill Bay | $418,000 | $418,000 | 0.0% |
| Macquarie Gr, Caves Beach | $443,000 | $478,000 | 7.9% |
| Charlestown Rd, Charlestown | $275,000 | $303,000 | 10.2% |
| E K Ave, Charlestown | $347,000 | $347,000 | 0.0% |
| Goola Ave, Charlestown | $415,000 | $434,000 | 4.6% |
| Jennifer St, Charlestown | $338,000 | $363,000 | 7.4% |
| Milson St, Charlestown | $361,000 | $385,000 | 6.7% |
| Pacific Hwy, Charlestown | $253,000 | $266,000 | 5.1% |
| Park St, Charlestown | $357,000 | $371,000 | 3.9% |
| Pillapai St, Charlestown | $353,000 | $369,000 | 4.5% |
| Smart St, Charlestown | $461,000 | $491,000 | 6.5% |
| Timbercrest Ch, Charlestown | $384,000 | $403,000 | 5.0% |
| Coal Point Rd, Coal Point | $796,000 | $892,000 | 12.1% |
| Harmon Dr, Cooranbong | $245,000 | $245,000 | 0.0% |
| Gardiner St, Dora Creek | $227,000 | $247,000 | 8.8% |
| Newport Rd, Dora Creek | $377,000 | $377,000 | 0.0% |
| Frederick St, Dudley | $486,000 | $486,000 | 0.0% |
| Campana Ave, Edgeworth | $242,000 | $242,000 | 0.0% |
| Crystal St, Edgeworth | $243,000 | $254,000 | 4.5% |
| Neilson St, Edgeworth | $223,000 | $236,000 | 5.8% |
| Bareki Rd, Eleebana | $988,000 | $988,000 | 0.0% |
| Croft Rd, Eleebana | $376,000 | $408,000 | 8.5% |
| Minchinbury Cl, Eleebana | $369,000 | $395,000 | 7.1% |
| Payten St, Eraring | $999,000 | $999,000 | 0.0% |
| Wangi Rd, Fassifern | $241,000 | $255,000 | 5.8% |
| Blandford St, Fennell Bay | $545,000 | $583,000 | 7.0% |
| Macquarie Rd, Fennell Bay | $384,000 | $420,000 | 9.4% |
| Floraville Rd, Floraville | $297,000 | $303,000 | 2.0% |
| Harold St, Floraville | $688,000 | $791,000 | 15.0% |
| Gymea Dr, Garden Suburb | $426,000 | $426,000 | 0.0% |
| Whalan St, Garden Suburb | $330,000 | $330,000 | 0.0% |
| Coral Cres, Gateshead | $265,000 | $277,000 | 4.5% |
| O'Brien St, Gateshead | $265,000 | $285,000 | 7.6% |
| Lake Rd, Glendale | $255,000 | $265,000 | 3.9% |
| Robina Dr, Hillsborough | $310,000 | $330,000 | 6.5% |
| Earl St, Holmesville | $243,000 | $243,000 | 0.0% |
| Seaham St, Holmesville | $313,000 | $326,000 | 4.2% |
| St Helen St, Holmesville | $249,000 | $257,000 | 3.2% |
| Silverdale Pde, Jewells | $322,000 | $361,000 | 12.1% |
| Collarena Cres, Kahibah | $361,000 | $372,000 | 3.1% |
| Murrakin St, Kahibah | $400,000 | $440,000 | 10.0% |
| Kilaben Rd, Kilaben Bay | $295,000 | $322,000 | 9.2% |
| Geordie St, Killingworth | $283,000 | $283,000 | 0.0% |
| Blackbutt Pde, Kotara South | $306,000 | $306,000 | 0.0% |
| Kenneth St, Kotara South | $367,000 | $404,000 | 10.1% |
| Colton Cres, Lakelands | $396,000 | $404,000 | 2.0% |
| Amsdale Ave, Macquarie Hills | $242,000 | $259,000 | 7.0% |
| Findon St, Marks Point | $289,000 | $305,000 | 5.5% |
| Marks Point Rd, Marks Point | $666,000 | $693,000 | 4.1% |
| Village Bay Cl, Marks Point | $370,000 | $385,000 | 4.1% |
| High St, Marmong Point | $243,000 | $255,000 | 4.9% |
| Dandaraga Rd, Mirrabooka | $522,000 | $543,000 | 4.0% |
| Hillcrest Rd, Mirrabooka | $386,000 | $386,000 | 0.0% |
| Kelowna Ave, Morisset | $234,000 | $255,000 | 9.0% |
| Mandolong St, Morisset | $255,000 | $290,000 | 13.7% |
| Wamberal St, Morisset | $630,000 | $630,000 | 0.0% |
| Dunkley Pde, Mount Hutton | $1,400,000 | $1,475,000 | 5.4% |
| Helen St, Mount Hutton | $265,000 | $270,000 | 1.9% |
| Kestrel Ave, Mount Hutton | $257,000 | $270,000 | 5.1% |
| Warners Bay Rd, Mount Hutton | $1,650,000 | $1,700,000 | 3.0% |
| Lake Forest Dr, Murrays Beach | $297,000 | $297,000 | 0.0% |
| Government Rd, Nords Wharf | $328,000 | $339,000 | 3.4% |
| Marine Pde, Nords Wharf | $694,000 | $750,000 | 8.1% |
| Old Pacific Hwy, Pinny Beach | $144,000 | $144,000 | 0.0% |
| Hasluck Dr, Rankin Park | $369,000 | $369,000 | 0.0% |
| Fishing Point Rd, Rathmines | $280,000 | $295,000 | 5.4% |
| Karie Pl, Rathmines | $238,000 | $245,000 | 2.9% |
| Shortland St, Redhead | $566,000 | $583,000 | 3.0% |
| Woods St, Redhead | $485,000 | $560,000 | 15.5% |
| Fourth St, Seahampton | $220,000 | $227,000 | 3.2% |
| Berkeley St, Speers Point | $334,000 | $367,000 | 9.9% |
| Berkeley St, Speers Point | $366,000 | $410,000 | 12.0% |
| The Esplanade , Speers Point | $481,000 | $529,000 | 10.0% |
| Maitland Ave, Sunshine | $259,000 | $272,000 | 5.0% |
| Chalmers St, Swansea | $414,000 | $435,000 | 5.1% |
| Channel St, Swansea | $600,000 | $624,000 | 4.0% |
| Lake Rd, Swansea | $340,000 | $360,000 | 5.9% |
| Lakeside Dr, Swansea | $424,000 | $458,000 | 8.0% |
| Rawson St, Swansea | $335,000 | $362,000 | 8.1% |
| Northcote Ave, Swansea Heads | $486,000 | $525,000 | 8.0% |
| Hillside Cres, Teralba | $220,000 | $270,000 | 22.7% |
| York St, Teralba | $270,000 | $280,000 | 3.7% |
| James St, Tingira Heights | $277,000 | $292,000 | 5.4% |
| Bambara St, Toronto | $198,000 | $202,000 | 2.0% |
| Brighton Ave, Toronto | $372,000 | $372,000 | 0.0% |
| Cary St, Toronto | $198,000 | $206,000 | 4.0% |
| Cook St, Toronto | $267,000 | $267,000 | 0.0% |
| Forest Lake Way, Toronto | $200,000 | $205,000 | 2.5% |
| Berringar Rd, Valentine | $640,000 | $670,000 | 4.7% |
| Camelot Cl, Valentine | $347,000 | $368,000 | 6.1% |
| Dilkera Ave, Valentine | $729,000 | $750,000 | 2.9% |
| Dilkera Ave, Valentine | $1,670,000 | $1,670,000 | 0.0% |
| Plumeria Pl, Valentine | $313,000 | $335,000 | 7.0% |
| Victor Ave, Valentine | $421,000 | $455,000 | 8.1% |
| Beach Rd, Wangi Wangi | $262,000 | $293,000 | 11.8% |
| Lakeview Rd, Wangi Wangi | $228,000 | $251,000 | 10.1% |
| Watkins Rd, Wangi Wangi | $599,000 | $617,000 | 3.0% |
| Albert St, Warners Bay | $534,000 | $582,000 | 9.0% |
| East St, Warners Bay | $345,000 | $367,000 | 6.4% |
| Yorston St, Warners Bay | $443,000 | $485,000 | 9.5% |
| Fegan St, West Wallsend | $222,000 | $235,000 | 5.9% |
| Burwood Rd, Whitebridge | $618,000 | $630,000 | 1.9% |
| Lonus Ave, Whitebridge | $377,000 | $430,000 | 14.1% |
| Lonus Ave, Whitebridge | $410,000 | $435,000 | 6.1% |
| James St, Windale | $216,000 | $216,000 | 0.0% |
| Manfred Ave, Windale | $205,000 | $220,000 | 7.3% |
| Baldwin Bvd, Windermere Park | $246,000 | $246,000 | 0.0% |
| Badjewoi St, Wyee | $284,000 | $290,000 | 2.1% |
| Pirama Rd, Wyee | $65,000 | $66,300 | 2.0% |
| Ash St, Wyee Point | $24,000 | $24,000 | 0.0% |
| Government Rd, Wyee Point | $255,000 | $255,000 | 0.0% |
| Wharf St, Wyee Point | $515,000 | $536,000 | 4.1% |
Commercial land values
Commercial overview
Commercial land values increased moderately and demonstrated a similar geographic demand pattern to that outlined for residential property. Specifically, stronger increases in the more established eastern coastal areas were recorded against more moderate increases in the western areas of the district such as Toronto and Morisset.
The moderation in demand in the western growth areas follows several years of stronger land value increases. The effect of previously strong take-up of new residential land supply within these locations had flow-on demand for local commercial services, however this trend appears to be easing.
Typical commercial land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Pacific Hwy, Belmont | $392,000 | $412,000 | 5.1% |
| Hopetoun St, Charlestown | $1,020,000 | $1,120,000 | 9.8% |
| Marks Point Rd, Marks Point | $289,000 | $303,000 | 4.8% |
| Alliance Ave, Morisset | $494,000 | $494,000 | 0.0% |
| Dora St, Morisset | $664,000 | $717,000 | 8.0% |
| Wilsons Rd, Mount Hutton | $281,000 | $295,000 | 5.0% |
| The Boulevarde , Toronto | $545,000 | $545,000 | 0.0% |
| Hillsborough Rd, Warners Bay | $821,000 | $903,000 | 10.0% |
| John St, Warners Bay | $657,000 | $716,000 | 9.0% |
Industrial land values
Industrial overview
Industrial land values increased slightly in the Lake Macquarie area but are still considered relatively subdued. There were no new releases of industrial land of any significance or any notable economic shifts or trends evident. Consequently, supply and demand fundamentals remained relatively stable, however local agents report demand from investors seeking returns continues to support values, coupled with increases by owner occupiers for small to medium industrial properties.
Typical industrial land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Northville Dr, Barnsley | $350,000 | $361,000 | 3.1% |
| Templar Pl, Bennetts Green | $438,000 | $451,000 | 3.0% |
| Stenhouse Dr, Cameron Park | $805,000 | $845,000 | 5.0% |
| Torrens Ave, Cardiff | $444,000 | $457,000 | 2.9% |
| Strathmore Rd, Caves Beach | $383,000 | $402,000 | 5.0% |
| Aluminium Cl, Edgeworth | $285,000 | $299,000 | 4.9% |
| Metro Ct, Gateshead | $495,000 | $510,000 | 3.0% |
| Edith St, Marks Point | $1,050,000 | $1,050,000 | 0.0% |
| Mayfair Cl, Morisset | $423,000 | $444,000 | 5.0% |
| Darrambal Cl, Rathmines | $393,000 | $405,000 | 3.1% |
| Seasands Dr, Redhead | $341,000 | $358,000 | 5.0% |
| Racecourse Rd, Teralba | $781,000 | $804,000 | 2.9% |
| Nicholson St, Toronto | $321,000 | $331,000 | 3.1% |
Rural land values
Rural overview
Rural land values generally showed moderate increases across the local government area broadly in line with the wider property market. A relatively high number of sales within Wakefield heavily influenced the steady land values experienced in some rural properties with temporary excess supply restricting increases in land value.
Typical rural land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Myall Rd, Cardiff | $420,000 | $420,000 | 0.0% |
| Freemans Dr, Cooranbong | $464,000 | $501,000 | 8.0% |
| Martinsville Rd, Cooranbong | $665,000 | $698,000 | 5.0% |
| Mount Faulk Rd, Cooranbong | $659,000 | $680,000 | 3.2% |
| Gradwells Rd, Dora Creek | $484,000 | $484,000 | 0.0% |
| Bulls Garden Rd, Whitebridge | $530,000 | $530,000 | 0.0% |
Added value of improvement tables
The added value of improvement tables show dollar values per square metre for the added value of improvements for the main residential property types in a local government area. It is the value the improvements add to the value of the land as demonstrated by the analysis of property sales.