Land values in the Maitland local government area
Hunter region
General overview
There was a moderate increase in land values in the Maitland local government area between 2017 and 2018, which was consistent across the residential and commercial market segments. This has been driven by strong demand for housing at an affordable level and improvements to roads and infrastructure.
Industrial land values remained steady, while rural land values showed a slight increase.
Land value trends
| Property zone | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Residential | $5,931,342,736 | $6,471,611,116 | 9.1% |
| Commercial | $397,853,500 | $423,572,800 | 6.5% |
| Industrial | $46,079,390 | $46,646,551 | 1.2% |
| Rural | $767,440,126 | $798,951,167 | 4.1% |
| Other | $99,062,476 | $100,621,256 | 1.6% |
| Total | $7,241,778,228 | $7,841,402,890 | 8.3% |
Number of properties by zone
Total number of properties: 33,008
Residential land values
Residential overview
Residential land values in the Maitland local government area increased moderately between 2017 and 2018, due to strong demand from owner occupiers and investors for new and established housing and improvements in road and infrastructure. The most significant suburbs of growth include East Maitland, Morpeth, Lorn, Maitland and Telarah.
Demand levels for property have been tempered marginally by the continued supply of new residential subdivision releases in the suburbs of Thornton, Chisholm, Raworth, Aberglasslyn, Rutherford and Gillieston Heights.
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 |
|---|---|---|---|
| Poplar Cl, Aberglasslyn | $162,000 | $178,000 | 9.9% |
| Silky Oak Dr, Aberglasslyn | $294,000 | $323,000 | 9.9% |
| Galway Bay Dr, Ashtonfield | $675,000 | $723,000 | 7.1% |
| Kilkenny Cct, Ashtonfield | $224,000 | $253,000 | 13.0% |
| Paterson Rd, Bolwarra | $209,000 | $230,000 | 10.1% |
| Hilltop Cres, Bolwarra Heights | $192,000 | $202,000 | 5.2% |
| Nordland Cl, Bolwarra Heights | $300,000 | $309,000 | 3.0% |
| Riverview Rd, Bolwarra Heights | $390,000 | $410,000 | 5.1% |
| Forest Dr, Chisholm | $300,000 | $339,000 | 13.0% |
| Threadtail St, Chisholm | $209,000 | $231,000 | 10.5% |
| Melbourne St, East Maitland | $225,000 | $225,000 | 0.0% |
| Morton St, East Maitland | $148,000 | $163,000 | 10.1% |
| Newcastle St, East Maitland | $159,000 | $169,000 | 6.3% |
| Porter Ave, East Maitland | $205,000 | $226,000 | 10.2% |
| William St, East Maitland | $212,000 | $233,000 | 9.9% |
| Wilton Dr, East Maitland | $233,000 | $266,000 | 14.2% |
| Crestview St, Gillieston Heights | $166,000 | $182,000 | 9.6% |
| Albert St, Horseshoe Bend | $96,600 | $107,000 | 10.8% |
| George St, Largs | $182,000 | $200,000 | 9.9% |
| Dunnering Cl, Lochinvar | $241,000 | $258,000 | 7.1% |
| Hunter Cl, Lochinvar | $160,000 | $165,000 | 3.1% |
| New England Hwy, Lochinvar | $595,000 | $637,000 | 7.1% |
| New England Hwy, Lochinvar | $1,100,000 | $1,180,000 | 7.3% |
| Allan St, Lorn | $266,000 | $301,000 | 13.2% |
| Dagworth Rd, Louth Park | $785,000 | $840,000 | 7.0% |
| Reflection Dr, Louth Park | $368,000 | $405,000 | 10.1% |
| Bourke St, Maitland | $104,000 | $109,000 | 4.8% |
| Denman St, Maitland | $165,000 | $172,000 | 4.2% |
| Mount Pleasant St, Maitland | $231,000 | $250,000 | 8.2% |
| Cedar Cl, Metford | $187,000 | $202,000 | 8.0% |
| High St, Morpeth | $225,000 | $266,000 | 18.2% |
| Laurie Dr, Raworth | $214,000 | $231,000 | 7.9% |
| Easton Cl, Rutherford | $141,000 | $152,000 | 7.8% |
| Fourth Ave, Rutherford | $146,000 | $150,000 | 2.7% |
| New England Hwy, Rutherford | $114,000 | $128,000 | 12.3% |
| Capper St, Telarah | $153,000 | $176,000 | 15.0% |
| Bradbury St, Tenambit | $204,000 | $216,000 | 5.9% |
| Glenroy St, Thornton | $168,000 | $178,000 | 6.0% |
| Somerset Dr, Thornton | $210,000 | $227,000 | 8.1% |
| River Rd, Windella | $284,000 | $318,000 | 12.0% |
| Frewin Ave, Woodberry | $141,000 | $145,000 | 2.8% |
| Green Hills Ave, Woodberry | $121,000 | $127,000 | 5.0% |
Commercial land values
Commercial overview
There was a moderate increase in commercial land values in the Maitland local government area between 2017 and 2018 which was due to improvements in roads and infrastructure such as the Hunter Expressway. Localities experiencing moderate growth include Rutherford, Lochinvar, Maitland and Telarah.
Land values for properties in the main central business area of Maitland and mixed use properties in East Maitland remained steady. This can be attributed to well balanced supply and demand.
Typical commercial land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Lawes St, East Maitland | $245,000 | $258,000 | 5.3% |
| Molly Morgan Dr, East Maitland | $400,000 | $400,000 | 0.0% |
| Newcastle St, East Maitland | $634,000 | $654,000 | 3.2% |
| High St, Largs | $195,000 | $215,000 | 10.3% |
| Church St, Maitland | $218,000 | $218,000 | 0.0% |
| Swan St, Morpeth | $210,000 | $216,000 | 2.9% |
| Swan St, Morpeth | $235,000 | $242,000 | 3.0% |
| New England Hwy, Rutherford | $300,000 | $306,000 | 2.0% |
| Sabre Cl, Rutherford | $300,000 | $350,000 | 16.7% |
| Weblands St, Rutherford | $160,000 | $163,000 | 1.9% |
| Kestrel Ave, Thornton | $380,000 | $389,000 | 2.4% |
Industrial land values
Industrial overview
Industrial land values have remained steady between 2017 and 2018 with owner occupiers being the main driver in the market.
Typical industrial land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Turton St, Metford | $180,000 | $184,000 | 2.2% |
| Racecourse Rd, Rutherford | $310,000 | $316,000 | 1.9% |
Rural land values
Rural overview
Rural land values for smaller rural lifestyle and hobby farms have shown a slight increase between 2017 and 2017, while large rural home sites between 20 to 50 hectares showed a strong increase. These increases can be attributed to improvements in roads and infrastructure projects in recent years.
Typical rural land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Duckenfield Rd, Berry Park | $418,000 | $430,000 | 2.9% |
| Wollombi Rd, Bishops Bridge | $300,000 | $309,000 | 3.0% |
| Wollombi Rd, Bishops Bridge | $432,000 | $442,000 | 2.3% |
| Hungerford Lane, Gillieston Heights | $658,000 | $726,000 | 10.3% |
| Maitland Vale Rd, Hillsborough | $864,000 | $894,000 | 3.5% |
| Valley View Lane, Louth Park | $288,000 | $302,000 | 4.9% |
| Luskintyre Rd, Luskintyre | $1,335,000 | $1,360,000 | 1.9% |
| Cessnock Rd, Maitland | $149,000 | $152,000 | 2.0% |
| Campbells Rd, Maitland Vale | $350,000 | $368,000 | 5.1% |
| Maitland Vale Rd, Maitland Vale | $365,000 | $365,000 | 0.0% |
| Tocal Rd, Mindaribba | $1,420,000 | $1,450,000 | 2.1% |
| Maitland Vale Rd, Rosebrook | $655,000 | $675,000 | 3.1% |
| Louth Park Rd, South Maitland | $130,000 | $141,000 | 8.5% |
| Windermere Rd, Windermere | $955,000 | $955,000 | 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.