We are pleased to report that sold volume rose in October across all four local LGAs, most notably Newcastle and Lake Macquarie. Data from REA Group shows 262 properties sold in the Newcastle LGA in Oct, up from 224 in Sept, 244 in Aug, and also up from 254 in Oct of 2023. 300 properties sold in Oct in the Lake Macquarie LGA, up from 251 in Sept, 265 in Aug, and also up from 269 in Oct of 2023. However, the gap between sold properties and new listings continued to widen slightly across all four LGAs. Most notable, the Lake Macquarie LGA’s jump in new listings from 378 in Sept to 515 in Oct.
Median sale prices also rose slightly across all four LGAs in October.