Market update
Historic Paterson is a delightful part of the world. Situated along the banks of the Paterson River, this quaint town lies almost halfway between Maitland and Dungog and is gateway to nearby rural villages like Vacy and Gresford.
The township features a mix of heritage homes from early settlement days, 20th century cottages and newer builds; mostly freestanding homes or duplexes, rather than apartments.
With a long history of dairy and citrus farming, the area is largely agricultural outside of the town -a blend of hobby farms, larger acreages and solid allotments. It is a prime choice for tree changers for its ambience, serenity and clean country air. Picture a home complete with chooks and a cow.
Online statistics support Paterson’s popularity with buyers, with listing site realestate.com.au recording 1026 views per property for the town, compared with an average of 832 visits per suburb across the state.
Prices for the area are proving to be strong over the past months, showing an average median house sale of $640,250, largely due to the size of the blocks and the established nature of the homes.
McElwaine Estate Agents has secured a median house price of $950,000, 33% above the average, indicating that buyers are willing to lock in a premium price for the home and lifestyle they’ve always wanted.
Living local
Paterson is a compact town with a strong community spirit. The picturesque John Tucker Park with its uniform shady trees is perfect for picnics and is a popular location for weddings and gatherings such as the annual New years’ Eve celebrations.
It is home to Paterson Public School, as well as a pre-school. Secondary options include high schools in Maitland, East Maitland and Dungog.
It has a number of services including a post office, petrol station, agricultural supply store, general store, butcher, chemist and supermarket, as well as a couple of cafes, churches, the Paterson Tavern and the Courthouse Hotel. A round of golf can be played the golf club and the historical society and art gallery are drawcards for history buffs and culture vultures.
Paterson has a train station with trains running multiple times a day on the Hunter Line through to Maitland and Newcastle with a connection to Sydney.
Facts and figures
- Median house price: $640,250
- McElwaine median house price: $950,000
- McElwaine highest sale price: $950,000
- Highest sales price: $980,000
