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Newcastle Herald
Newcastle Herald
National
Michael Parris

Faster than Sydney: Newcastle house values up 460% in 30 years

Newcastle Lake Macquarie Sydney Australia CoreLogic
A couple secure a house in Valentine at auction in December 2020. East Lake Macquarie has recorded the highest 30-year rise in prices in the Hunter. Picture by Jonathan Carroll

The east side of Lake Macquarie and Newcastle have made a list of the top regional districts in Australia for house value growth over the past three decades.

A new CoreLogic report says the median value of a house in east Lake Macquarie jumped from $159,000 in 1992 to $923,000 in July this year, an increase of 480 per cent. The increase equates to a rise of 6 per cent a year in annual compounding terms and placed east Lake Macquarie ninth on CoreLogic's national regional growth ranking.

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