Around 7% house price growth in Newcastle and Lake Macquarie CoreLogic: RP Data

Newcastle and Lake Macquarie sales volumes have recently shown some improvement, according to the latest CoreLogic RP Data report.

However the districts continue to be well below the levels seen over the previous market peak in the early 2,000s.

Over the 12 months to November 2014 there were 6,729 houses and 1,463 units sold and current sales activity is 5% above the five year average.

Over the 2014 calendar year, home values across the region increased, up 7.2% for houses and 5.8% for units.

CoreLogic RP Data also reports that in comparison to the same time last year, homes are selling at a faster rate, with homes selling by an average of 12 days faster for houses and 13 days faster for units.

Source: CoreLogic RP Data