Land values fall up to 10% across Hunter as interest rates, costs bite

Michael Parris
Updated January 9 2024 - 5:32pm, first published 11:16am
This four-bedroom house in Trebbiano Drive, Cessnock, sold for $710,000 last month.
This four-bedroom house in Trebbiano Drive, Cessnock, sold for $710,000 last month.

Residential land prices fell more than 10 per cent in parts of the Hunter in the latest official valuations as interest rates, building costs and living expenses hit the property market.

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Michael Parris

Michael Parris

Journalist

Michael Parris reports on politics for the Newcastle Herald. He started at the Herald in 1994 after working in the ABC Newcastle newsroom. Michael spent much of his career as a sub-editor before moving into political reporting in 2017. He was a finalist in the Sports Australia national media awards for his stories about a male-only tennis club in Newcastle. He has covered NSW and federal elections, state and federal budgets and local politics. He has also written extensively about the COVID-19 pandemic with a special focus on data analysis and the effects of lockdowns on the Hunter community.

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