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
