Several Maitland suburbs recorded 10 per cent price growth last year – the first double digit percentage growth in a decade.

“The market it still strong, portions of the marketplace are softening but there is a genuine shortage of well-priced homes,” PRD principal Luke Anderson said.

One area that shows no signs of softening is Thornton. After overtaking Aberglasslyn in median price in 2015, the middle price figure for a house in Thornton is now half a million dollars.

“Buyer trends are still very much focusing on the east and suburbs linked to the Hunter Expressway,” Mr Anderson said.

LJ Hooker Maitland managing director Todd Fisher agreed, saying suburbs like Thornton, Ashtonfield and East Maitland had boomed.

“Thornton because of its proximity to Newcastle has arguably seen the highest amount of growth in the area,” he said. “The Stockland Green Hills redevelopment has had a real impact on growth in the east, which has put pressure on pricing throughout the whole area.”

The median house price in Central Maitland grew by almost $100,000 last year, and is now on par with Rutherford at just under $400,000.

Other trends outside of price also pointed towards a strong market in Maitland. 

Mr Fisher said the growth of the bigger cities had meant a lot more inquiries were coming in to Maitland from remote buyers.

In a review of Aberglasslyn, Ashtonfield, East Maitland, Maitland, Rutherford and Thornton, the average vendor discount – the difference between asking price and final sale – tightened from -3.9 per cent in the third quarter of 2016 to -2.3 per cent at the end of last year. 

Average days on market also went from 72 to 46 in the same period.

“The Hunter Valley is becoming a sellers market where sales are being achieved faster and closer to initial asking prices,” the PRD report stated.

Mr Anderson predicted another strong year of growth fuelled by big city investors. 

“It’s been a great start to 2018, we have had fantastic numbers through open homes and property inquiries,” he said. “The market is still very active.” 

Mr Fisher said that while Newcastle and the Central Coast had been rapidly growing, Maitland had been “patiently waiting” for that same boost.

“We’ve only seen real growth in the last 12 months,” he said. “I think we’re going to see steady, consistent growth.”