Market Data
examining the Port Macquarie supply-demand property market indicators
capital growth potential
"For interstate buyers, it's worth noting that demand for houses in Port Macquarie exceeds the supply. The opposite is true for most suburbs nationwide. This means prices should continue to rise"
Michael Fuller | Founder, Boomscore.com.au
A home is not just a reflection of our values and lifestyle. It's how we preserve and grow our wealth for the future.
The Ocean Estate is not just a statement in relaxed coastal living, it is also positioned in a prime location in Port Macquarie and is the only new home estate within close proximity to everything Port Macquarie has to offer.
The supply-demand market data suggests capital growth for houses in Port Macquarie will continue to grow above the market average and certainly above the majority of the 15,000 suburbs countrywide despite the wider market challenges.
Ocean Estate itself is considered a 'better market' within overall Port Macquarie property market and, therefore, could make a good investment for both resident and non-resident owners.
National
NSW
Port Macquarie
*Boom Score for Port Macquarie accurate at August 2022
boomscore MARKET INDICATORs
The property market indicators below are some of the 9 indicators used to derive the ratio of demand to supply (Boom Score) for houses in Port Macquarie. Boom Score considers each indicator in unison which reduces inaccuracies associated with relying on only one indicator so typical of the popular property media.
stock on market percent
Stock on Market Percentage is the percentage of properties for sale in a particular area as a proportion of the total number of properties in that area
The lower this percentage figure for a suburb, the less properties are for sale in that suburb as a proportion of the number of properties in the area. A low Stock on Market Percentage means that properties are tightly held by owners and snapped up by buyers when they do come on the market.
The number of properties available for sale relative to the number of properties in Port Macquarie is trending lower from a tightly held position which is putting upward pressure on prices.
stock on market percent trend
Online Search Interest
Online search interest is the percentage of properties for sale in a particular area as a proportion of the total number of properties in that area
For example, if there are 20 properties listed online for sale in a suburb and there were 250 people searching for property in that area, then the Online Search Interest is 300 divided by 20 = 15.
The higher this figure, the greater the demand compared to supply, and the more likely it is that property prices will go up in that area.
The number of people searching online per property in Port Macquarie has grown by 350% over two years which is considerably higher than the NSW average. This indicates demand is growing year on year.
trend in online property portal visits
Days on Market
Days on Market is the average number of days a property takes to sell. That’s the number of days from when it is listed for sale until the time it is recorded as sold.
If property is selling fast in a particular suburb, then this is a good indication that there is a high demand for properties in that area. The lower the Days on Market figure (i.e. the quicker property sells), the higher the demand for property. And the higher the Days on Market figure (i.e. the longer it takes to sell), the lower the demand for property.
If properties are selling quickly, then buyers are keen to buy in the area and sellers may be able to achieve higher sales prices and this pushes property prices up.
Properties in Port Macquarie are selling in 40 days on average compared to 80 days two years ago. This indicates demand is greater than supply and may put additional upward pressure on prices.
trend in number of days houses take to sell
Vacancy Rate
This is the percentage of rental properties that are currently vacant in a suburb.
This is the percentage of rental properties that are currently vacant in a suburb. For example, if there are 250 rental properties in a suburb and 5 of them are vacant, then the Vacancy Rate is 5/250 X 100 = 2%.
The vacancy rate in Port Macquarie is currently 0.3% which is very tight. Low vacancy rates tend to put upward pressure on rents followed by upward pressure on prices as investors enter the market.
trend in vacancy rate
Auction Clearance Rate
Stock on Market Percentage is the percentage of properties for sale in a particular area as a proportion of the total number of properties in that area
For example, if 20 properties were up for auction in a suburb and 15 sold at auction and 5 were passed in, then the Auction Clearance Rate would be 15 / 20 x 100 = 75%.
Real estate agents will often sell properties by auction when the demand for properties is strong, as auctions allow potential buyers to outbid each other and push prices up. But not every property that goes to auction sells. The higher the Auction Clearance Rate percentage, the higher the demand for properties.
Auction are clearing at twice the rate since 2019. The high auction clearance rate in Port Macquaries coupled with the upward trend in clearance rates suggests demand is growing steadily which may lead to further upward pressure on house prices.
trend in auction clearance rate