Central Coast Property News

https://www.mortgagechoice.com.au/michael.daniels/our-services/mortgage-choice-in-central-coast-michael-daniels/ This chart illustrates a relative housing affordability advantage for houses over units in comparison to the Sydney market. The median Central Coast unit price is only 14.05% lower than Sydney's median unit price. Even the Central Coast entry-level median unit price is only 8.87% lower than Sydney's median entry-level unit price. I suspect this is not an attractive enough saving to entice Sydney-employed people to make the move and endure hours of commuting. Houses, on the other hand, offer a far greater incentive for Sydney-employed people to migrate to the Central Coast. The median Central Coast house price is 32.77%, $485,000, lower than Sydney's median house price. If this $485,000 difference were borrowed at 6%, the annual repayments would be around $34,893 ($670 per week) higher in Sydney. Now, that might be worth the travel time. Surprisingly, the Central ...

https://www.mortgagechoice.com.au/michael.daniels/our-services/mortgage-choice-in-narara-michael-daniels/ Narara's many attributes continue to bear fruit in the form of rising house prices. Unlike many other Central Coast suburbs, Narara has surpassed the 5% growth milestone, achieving a growth rate of 7.40%. The median weekly rent of $650 has shown less growth (2.4%), which is surprisingly low given that 529 potential renters were interested in only 15 available houses last month. 20% of Narara houses are rented, which is well below the national average of 36%, meaning this is likely to be a more stable market as owner-occupiers tend toward longer tenure. Over the last year, 113 Narara houses were sold, which represents only 4.1% of the total number of houses in the area. If this result were to occur consistently, houses would only turn over every 24 years, which is a remarkably long tenure. Many of our long-term Narara clients now hold substantial amounts of equity, a result of t...

https://www.mortgagechoice.com.au/michael.daniels/our-services/mortgage-choice-in-central-coast-michael-daniels/ As land and house prices continue to escalate due to the limited supply of new stock and a growing population, an increasing number of our population will seek out the more affordable option of a unit. A recent investor client confirmed this week that most of their competing buyers in Gosford were first-home buyers from Sydney. A current Gosford Median 2-bedroom unit price of $550,000 generates a median rent of $520 per week. A Gosford median 3-bedroom unit price of $637,000 generates a median rent of $600 per week. These are desirable numbers for Sydney-siders. A surprising result emerged at the end of June. The Central Coast Median house price now generates a median rental yield of only 2.8% p.a., while the Median unit price generates a median yield of 4.8% p.a. This result places Central Coast units in a far more cash-flow-friendly position than their House counterparts. ...

https://www.mortgagechoice.com.au/michael.daniels/our-services/mortgage-choice-in-erina-michael-daniels/ As mortgage brokers in Erina, these insights are crucial for tailoring our services to meet our clients’ needs, whether for home loans, investment properties, or refinancing. The data highlights opportunities in a growing market, supporting informed decision-making and ultimately looking after our clients. Key Points The median house price in Erina is $1,327,500, with an annual increase of 8.6%, indicating strong market growth. 79% of houses are owner-occupied, indicating a stable market. The median rent is $750/week, up 10.3%, with a 3.6% gross rental yield, indicating potential for investors. Low supply (13 houses for sale, 15 rentals) meets high demand (848 buyers, 377 renters), creating a competitive market. Properties sell in 54 days and lease in 16 days on average, showing quick turnover. Over the past 12 months, 42 houses were sold and 80 were leased, reflecting an active mar...

https://www.mortgagechoice.com.au/michael.daniels/our-services/mortgage-broker-in-kincumber-michael-daniels/ Kincumber: Strengths:  Kincumber's median price growth of 7.40% over the past year indicates strong recent capital appreciation, making it an attractive option for buyers seeking short-term gains. Its lower median price ($1,160,000) offers affordability, potentially leaving room for future growth. Faster sales (33 days) indicate higher demand relative to supply, supporting liquidity. Weaknesses:  The rental market is less robust, with a lower yield (3.30%) and negative rent growth (-1.50%), which may limit its appeal for investors relying on rental income to support property values. There are fewer interested buyers (1,705) and renters (382) compared to Green Point, suggesting lower overall demand. Green Point: Strengths:  Green Point's higher median price ($1,255,586) may reflect a more established or premium market, potentially indicating stability. Its rental ma...

https://www.mortgagechoice.com.au/michael.daniels/our-services/mortgage-choice-in-bateau-bay-michael-daniels/ The records keep tumbling. Bateau Bay's median house price just reached $1,150,000, one of a handful of Central Coast suburbs that have exceeded the records set during the Covid-19 economic stimulus. Interestingly, the 3-bedroom median house price is $998,500, and the 4-bedroom median house price is $1,282,500, which is an enormous price gap for a bedroom ($284,000). What caused this discrepancy? A good way to explore market value is the expression of a property's ability to generate income. The median 4-bedroom rent is $750 per week, which is $39,000 per annum. This is 3.04% of $1,282,500. The median 3-bedroom rent is $600 per week, which is $31,200 per annum. This is 3.12% of $998,500. Both of these yield results indicate that the market yield is in line with the Central Coast Median of 2.92%. If you would like to discuss your property plans, please email michael.dani...

https://www.mortgagechoice.com.au/michael.daniels/our-services/mortgage-broker-in-gorokan-michael-daniels/ Two of the Central Coast's more affordable suburbs are compared today. As you can see, Gorokan has roughly twice the number of houses and has a higher percentage of owner-occupied dwellings. Gorokan: Perfect for First-Home Buyers Gorokan, with a median house price of $732,000, is the ideal location for first-home buyers, given they are below the NSW stamp duty waiver amount of $800,000 and the First Home Guarantee threshold of $950,000. This could potentially mean a first home buyer could buy a median Gorokan house for an upfront cost of $36,600 (5% of $732,000). Gorokan: Investor-Friendly Market Investors may also be surprised at Gorokan's attractive rental yield of 4.1%, when the rest of the Central Coast has a median rental yield of 2.9%. Another surprising result for Gorokan investors is the high level of renter demand and the short time that a rental is on the market ...