HOUSE prices and investor interest have surged at Innes Lake as Charles Sturt University's purpose-built campus takes shape.
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Stage one construction of the Innes Lake campus will be completed in February with students and staff to move in during April.
The campus off Major Innes Road will be developed in stages.
LJ Hooker Port Macquarie property sales consultant Brendan Stead said there was a shortage of homes for sale in the Innes Lake area and properties were quickly snapped up.
Families from out of town were seeking houses for their children to live in while at university, he said, while Innes Lake was popular with investors.
"We've seen a dramatic spike in inquiries and prices have jumped dramatically," Mr Stead said.
"I believe the university has had a huge impact."
Between early July and early October 2014, the lowest sale price in the area was $280,000, while $535,000 was the highest price achieved.
For the same period this year, $360,000 marked the lowest sale price with the highest sale coming in at $590,000.
Those prices apply to the average three and four bedroom homes.
Mr Stead said Innes Lake's close proximity to the university had a lot of investors talking.
He predicts the Sherwood area will also increase in popularity given its proximity to the new campus.
CSU aims to develop a full-service campus with comprehensive courses for up to 5000 students by 2030.
The university opened an interim Grant Street campus in 2012. The study body has grown to 560 and courses are on the rise too.
The university's vision for the Port Macquarie campus is to draw on the strengths of the region and its people to create a sustainable learning community dedicated to the growth and prosperity of the region and its people.