Australian Coat of Arms

Member for Blaxland

Shadow Minister for Housing and Homelessness 

Shadow Minister for Regional Services, Territories and Local Government

 

Housing costs through the roof in the Hunter

JASON CLARE MP
SHADOW MINISTER FOR HOUSING AND HOMELESSNESS
MEMBER FOR BLAXLAND

HUNTER REGION FEDERAL MPS
 

HOUSING COSTS THROUGH THE ROOF IN THE HUNTER

 
Housing costs in the Hunter have skyrocketed in the last 12 months.
 
House prices in the Hunter region have jumped by 29 per cent[1], much more than the national average of 21.9 per cent.
 
The cost of rent has also skyrocketed. Rent in Sydney has increased 5.5 per cent in the last 12 months. In some parts of the Hunter, it has jumped by three or four times that.
 

COST OF RENT

SUBURB

MEDIAN RENT

YEAR TO SEPTEMBER

Gateshead

$450

16.9%

Swansea

$478

22.4%

Medowie

$520

9.5%

Gwandalan

$470

17.5%

Mannering Park

$450

18.4%

Nelson Bay

$490

11.4%

Newcastle

$520

15.6%

Kurri Kurri

$385

8.5%

New Lambton

$550

17%

Broadmeadow

$530

12.8%

East Maitland

$440

10%

 

Source: Domain Rental Report, September 2021
 

HOUSE PRICES

SUBURB

MEDIAN PRICE

YEAR TO SEPTEMBER

Merewether

$1,600,000

28%

Gwandalan

$658,000

34.3%

San Remo

$580,000

28.9%

Wallsend

$605,000

24.7%

Medowie

$661,875

20.3%

Gillieston Heights

$610,000

21.2%

Mayfield

$720,000

23.1%

Newcastle

$790K

23.2%

Glendale

$614,000

21.7%

Swansea

$681,000

23.8%

East Maitland

$615,000

20.6%

Cessnock

446,000

22.2%

 

Source: Domain House Price Report, September 2021
 
This makes it harder and harder for young people to buy a home in the Hunter.
 
It’s no wonder the number of first home buyers signing up for loans has dropped by 20 per cent since the beginning of the year. 
 
Twenty years ago, the average home cost four times the average salary. Now, it’s almost twice that. 
 
It’s harder to buy than ever before, it’s harder to rent than ever before and there are more homeless Aussies than ever before.
 
After almost a decade in Government, housing affordability has only got worse under the Liberals.
 
HUNTER MPS:
PAT CONROY MP - MEMBER FOR SHORTLAND

MERYL SWANSON MP - MEMBER FOR PATERSON
SHARON CLAYDON MP - MEMBER FOR NEWCASTLE
JOEL FITZGIBBON MP - MEMBER FOR HUNTER
 
FRIDAY, 5 NOVEMBER 2021

MEDIA CONTACT: ARLEY BLACK 02 9790 2466