Market Overview

Every property is unique. It has individual features and benefits that will influence the value of it in ways that overall statistics and median prices can't accurately predict.

In the same way, general news reports of what is happening overall in the Australian property market are not necessarily relevant to your property and the local area.

Understanding exactly what's happening in your suburb and the surrounding areas can help you understand the value of your property.

The first thing to consider is the size of the market; how many properties were sold in the past year? From this we can gauge if there is a lot of competition for buyers or if there is very little - both situations have their strengths and weaknesses and will influence the value.

Of course, particular markets can change and sometimes rapidly. Other areas don't have the opportunity for significant change because of existing town planning requirements, geographic features or market appeal issues.

In the 12 months to April 2010, there was approximately $442 million worth of house and land properties sold in the Port Stephens market place.

_{Source: Australian Property Monitors. Figures have been filtered to exclude developer sales and any related party transactions.}

The Port Stephens Market - Did you know?

• This area has a greater female population with 51%
• Approximately 75% of families in the region earn less than $2000 per week
• 28% of properties in this area are currently being rented which is on par with the national average of 27%

Housing Market

It is important to understand the turnover rate and the seasonal influences of your area when looking to buy or sell property.

Consider the split of houses in your area - looking at what different price band properties were sold in and how many properties were sold in each price band.

_{Source: Australian Property Monitors. Figures have been filtered to exclude developer sales and any related party transactions.}

Tenure Types

It is critical to understand who is likely to be looking to buy properties in your area.

Is it investors who will be looking to rent the property out?

Or is it a family looking for a long term home?

_{Source: Australian Bureau of Statistics, Census 2006.}