Suburb Profile Report for Maitland NSW (2320)

Maitland House: Median price $290,000, Annual capital growth 2.84%, Number of sales 48, Weekly median advertised rent $320

Maitland Unit: Median price $290,000, Annual capital growth 7.90%, Number of sales 10, Weekly median advertised rent $308

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Investment property in Maitland has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 3.20%

A 7.41% growth in median value for property investors in Maitland,2320 puts this suburb at number 531th in terms of best performing suburbs in NSW

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Maitland, 2320. Typically our figures indicate that -5.82% is being offered, which puts this NSW suburb at 1970th most discounted overall in Australia.

In the last year 48 properties changed hands in Maitland, which puts it as the 668th most active market in NSW when comparing the number of sales per suburb.

Using the current median advertised rental of $320 and the average annual increase in value of a median property of 2.84%, investors should hope to achieve an overall return of 5.74%

Maitland, 2320 ranked 548th in NSW when comparing growth in median property values or capital gain over the last 12 months. Maitland is one of 3162 in our list for NSW

The five-year average increase in median property values for Maitland,2320 has given property investors a potential capital gain of 24.73% across each of those five years.

On average over the past year, suburb has had 0.83 sales per month, which equates to 10 per year.

Renters in Suburb are facing rents around $3690 per annum or $307.5 every week.

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The housing market in the local government area of Maitland is akin to a tale of two cities.Full summary

The housing market in the local government area of Maitland is akin to a tale of two cities.

The lower lying area of Maitland has experienced negative capital growth of -12% in the last twelve months whilst East Maitland, which lies only 5km away, has seen a 6% growth in the past year. It’s not known if this can be attributed to negative public sentiment, in reaction to the Queensland floods earlier this year, seeing as Maitland sits on a flood prone region.

But property valuer Leigh Mather, of Herron Todd White Newcastle, suggests the negative growth is only temporary.

“It’s a funny old market, but we are seeing more supply coming into the market all the time,” he says. “Places like Rutherford, Raworth and Aberglasslyn, which are just west of Maitland, have had new land releases and you’ll find that many workers from nearby mining areas are buying into these lots and building brand new homes.”

Maitland is 35km north-west of Newcastle in the Hunter Valley region, and only a 90-minute drive from Sydney. It has direct access to three major highways being the New England Highway, Pacific Highway and the Sydney to Newcastle link. The long-awaited Hunter Expressway is also currently under construction, leading to more traffic being diverted away from the Maitland area, improving quality of life.

There are two main shopping districts in Maitland, with a third on its way in Rutherford, consisting of three supermarkets and various other specialty retail outlets. There are a total of thirty three schools in the region, and Maitland also boasts public and private hospitals and various other health care facilities catering for the young and old.

Maitland has enjoyed a healthy population increase in recent years, on the back of significant infrastructure spending and the mining industry. The period between June 2008 and June 2009 alone saw an increase of 1.80% or 1,236 new residents. This influx of new citizens has the vacancy rate at a tight 2%.

With median house prices at $242,500, Maitland is definitely affordable. And rental yields are between 6-7%, indicating a solid demand for housing. Renters make up 26% of the market.

Vacant land sales show a 31% increase from the March 2009 period to July 2010, which is equal to 200 transactions, according to PRD Nationwide figures. Average annual growth remains solid at 11%.

Maitland has a diverse economy, with key industries being mining, agriculture, manufacturing and construction. Construction in particular has picked up in the west of Maitland. The area is a part of the government’s Vision 2020 Project, and will benefit from the construction of industrial and community infrastructure.

Although some areas of Maitland have shown negative growth in the past twelve months, indicators point to a resurgence in house prices, based on rising population numbers, and driven by the continued strength of the mining and construction sectors.

Close
HOUSE UNIT
$290,000 $290,000
1.75% -13.69%
3.20% -18.31%
2.84% 7.90%
$320 $308
48 10
5.74% 5.51%
68.2 N/A

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
Find a mortgage broker in Maitland NSW
Demographics
Total population 1833
Median household income ($/weekly) 933
Median age of persons 41
Median housing loan repayment ($/monthly) 1500
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 161 8.8
    25-34 years 248 13.5
    35-44 years 225 12.3
    45-54 years 246 13.4
    55-64 years 204 11.1
    Others 750 40.9
    Age Group
    Census Count Percent(%)
    Not Married 622 50.7
    Registered Married 433 35.3
    Defacto Relationship 172 14.0
    Social Marital Status
  • Census Count Percent(%)
    Australia 1516 90.0
    Greece 14 0.8
    Papua New Guinea 19 1.1
    United Kingdom 43 2.6
    Other 21 1.2
    Others 71 4.2
    Country of Birth
    Census Count Percent(%)
    Buddhism 26 1.6
    Christianity 1237 76.5
    Islam 7 0.4
    Other Religious Groups 17 1.1
    No Religion 326 20.2
    Others 4 0.2
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 74 12.1
    $400-$599 56 9.2
    $600-$799 74 12.1
    $800-$999 71 11.6
    $1,000-$1,249 65 10.6
    Others 272 44.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 627 43.9
    Employed, worked full-time 469 32.9
    Employed, worked part-time 224 15.7
    Unemployed, looking for work 57 4.0
    Employed, away from work 50 3.5
    Person Characteristics
  • Census Count Percent(%)
    Professionals 141 19.1
    Technicians & trades workers 129 17.5
    Community & personal service workers 83 11.2
    Clerical & administrative workers 84 11.4
    Labourers 86 11.6
    Others 216 29.2
    Occupation
    Census Count Percent(%)
    Pre-school 30 9.0
    Infants/Primary 106 31.6
    Secondary 92 27.5
    Technical or Further Educational Institution 47 14.0
    University or other Tertiary Institutions 54 16.1
    Others 6 1.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1181 76.7
    Semi-detached, row or terrace house, townhouse 186 12.1
    Flat, unit or apartment 93 6.0
    House or flat attached to a shop, office 56 3.6
    Caravan, cabin, houseboat 23 1.5
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 254 37.7
    Fully owned 213 31.6
    Being purchased 201 29.8
    Other tenure type 6 0.9
    Tenure Type
Census 2011, ABS
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Recent sales & rentals