It’s no secret that people love living near parks — but did you know it can also add value to your property? Research from CoreLogic and the NSW Department of Planning shows homes closer to quality green space often sell for more.
In Greater Sydney, the “park premium” is clear — and while every suburb is different, the same trend plays out across Newcastle and Lake Macquarie. Buyers increasingly want easy access to playgrounds, dog parks, walking tracks and waterfront reserves.
How much difference does it make?
Homes within a short walk (about 400–500 metres) of a well-maintained park can command noticeably higher prices than those further away. A local example: properties bordering popular reserves like Speers Point Park, King Edward Park or Lambton Park often sell faster and attract more buyer interest.
International / Broad Studies That Back It Up
- Research on green & blue (water-adjacent) spaces in urban settings confirms distance decay effects: properties very close to nice parks or water get more uplift; the effect drops off as one moves farther away. ScienceDirect+1
- A UK study using “functional green space” within 200m of properties found small green spaces yield ~0.5% price uplift, and very large green spaces ~1.5% uplift of property price versus having none close by. ons.gov.uk
What This Means for Newcastle & Lake Macquarie
Putting this together, here are plausible real-world implications:
- A house in Charlestown, Edgeworth or Belmont that is within walking distance of a well-maintained park, foreshore walk or lake reserve may fetch 5–10% moreversus a similar house further away from green/open amenity.
- Sellers should emphasise path access, view to green space or foreshore in photos and copy (“leafy outlook”, “park views”, “walk-distance to playground / reserve”) because buyers are likely to value those features.
- Buyers should check maps / walk times: a block backing onto a green corridor or close to Speers Point, Redhead, or around Warners Bay likely has better resilience in value over time as councils focus on greening, water access & improving public open spaces.
Why parks matter to buyers:
- A healthier, more active lifestyle
- Safe, family-friendly spaces
- Leafy outlooks and reduced urban heat
- A strong sense of community
For sellers, that means highlighting proximity to quality open spaces in your marketing. For buyers, it’s a smart investment signal — neighbourhoods with strong public amenity tend to hold their value better over time.
As councils continue greening projects and foreshore upgrades, expect Newcastle and Lake Macquarie’s park-rich suburbs to stay in high demand.