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Port Macquarie real estate market
Their other posts in the index, biggest breakout first.
buying in Port Macquarie. Let's go. Condominium to the market there for just over $255,000 for a two bed, one bath, one car space unit, which is more like a holiday rental. For a townhouse, you're spending just under half a million dollars for a two bed, one bath, one car space. To crack into the standalone housing market, you're spending $673,000 for a three bed, one bath, two car space home on under 400 square meters. In the upper market here for over $1,560,000, you have waterfront property for a four bed, three bath, two car space home. And in the luxury market here for over $5,300,000, keep in mind this sold a few years ago, so it'd be worth a lot more now. You get a five bed, three bath, four car space home on acres. Now, looking at the growth of Port Macquarie, it had a steady increase pre-COVID, nothing huge, but steady increase. Then post-COVID had a massive spike. After the interest rates increased, you can see the market dipped a little and then was on that steady increase again. So Port Macquarie looks like one of those marketplaces that just continues to tick over time, which is actually a good thing. I'm not saying that in a bad way. Over the last 10 years, the market has grown just over 90%. And you've got a rental percentage there of 33%, which is about Australia's average. In summary, especially if buying in this marketplace as an owner occupier, potentially relocating, keep in mind your property there will still continue to do well, assuming it goes off its historical track record, which is a very good sign.