The stability of Maitland’s property market means less financial risk for buyers and sellers than fluctuating markets as in Newcastle, according to some Maitland real estate agents.
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LJ Hooker Maitland managing director Todd Fisher said his agency posted a record sales of more than $7 million in August, 30 per cent higher than its monthly average.
He said part of the Maitland market’s appeal was its stability compared with Newcastle and Sydney, with less dramatic price peaks and troughs.
“Properties in the mid $300,000s are selling like hot cakes,” Mr Fisher said.
“People are looking closely at Maitland.”
Properties in East Maitland and Ashtonfield had been popular in recent months, while homes in Aberglasslyn and the western suburbs had been slower to move.
Mr Fisher said there was a risk of paying too much for a property or not getting enough return for a sale in fluctuating markets.
He said a home available in the Maitland region for about $350,000 would cost about $500,000 in Newcastle for the same standard of property.
“We’re affordable and positioned beautifully,” he said.
“We are attractive from a geographical perspective.”
Ray White Maitland principal Michael Kirwin said his branch achieved a record 20 sales in July, up from its monthly average of nine.
He said low interest rates presented a good opportunity for buyers and sellers in Maitland.
“It’s a cautious market [at the moment], but it’s still moving well,” Mr Kirwin said.
Barclay Property licensed agent Gayle Olrich said more consistent housing prices made the Maitland region attractive to first home buyers and investors.
She said suburbs to the east of Maitland were selling particularly well because of the easy access to Newcastle.
“I get people from the Central Coast and Newcastle coming to look,” Ms Olrich said.
“You get more house for your money here.”
She said the Hunter Expressway had also helped properties in Gillieston Heights and Greta become more attractive to buyers.
“We do have a really good, solid market,” Ms Olrich said.
1 On 1 Property licensee Craig Linsley described Maitland’s market as having a buffer around it protecting it from the fluctuating prices of Newcastle.
“If you’ve got the right house at the right price, it will go quickly,” he said.
