THE Hunter’s frenzied real estate market drove land values up almost 15 per cent, or more than $15 billion, last financial year to a new regional high-water mark.
Figures issued by the NSW Valuer General estimated the value of all residential land in the Hunter hit $119 billion last financial year, up from $104 billion the year before.
The Hunter’s residential property market experienced strong price hikes driven by the region’s construction boom, proximity to Sydney, lack of supply and low interest rates.
The state government’s infrastructure spending helped drive skyrocketing growth in Newcastle’s inner-city development hot spot.
Read the full article at: http://www.theherald.com.au
Article Author: Donna Page
Newspaper: Newcastle Herald
Date: APRIL 4, 2018