Port Stephens' market on the move

New sales figures from PRDnationwide's research department have found a significant jump in activity in house buying over the first half of 2013 in the Port Stephens area.

The statistics saw a 14.2% activity jump over the first half of 2013 compared to the same period in 2012 across the LGA.

Research analyst for PRDnationwide, Oded Reuveni-Etzioni, said that the activity jump had gone a long way to eating into the surplus stock that had been on the market.

However, he noted that there were still buying opportunities for investors looking at the lower end of the market.

"At current sales levels, there is still approximately eight months' worth of house and unit stock available for sale in the Port Stephens region," Reuveni-Etzioni said.

"Nearly half of the recent transactions in the six months to June 2013 occurred in the suburbs of Nelson Bay and Corlette."

Much of the activity has been centred around the bottom and middle parts of the market, however some well-priced stock is selling within four weeks of listing.