Central Coast Property News

The WalkScore website is a global tool that measures your ability to live without a car or public transport. I typed my home address, and it achieved 12/100. Give your address a go via this link - https://www.mortgagechoice.com.au/michael.daniels/our-services/mortgage-choice-in-central-coast-michael-daniels/ WalkScore assessed the Central Coast as "A car-dependent City". I hear echos of people saying, "No ____ Sherlock", but there is some genuine value in this score, especially for investors. One of the most crucial property investment considerations is the asset's ability to maintain uninterrupted income/rent. Having a consistent tenancy means investors can meet their own commitments with reliable rental income. Low tenancy vacancy rates tend to cluster in suburbs with high convenience levels. Proximity to jobs, shops, recreation, public transport, healthcare, and other commercial services will increase renter demand, which is crucial for consistent tenancy. Th...

https://www.mortgagechoice.com.au/michael.daniels/our-services/mortgage-choice-in-green-point-michael-daniels/ Author: Michael Daniels This table illustrates Green Point's growth over the last 5 years. As you can see, Green Point's median house price ranks 7th in terms of % growth (64.47%) and rose from $760,000 to $1,250,000 over the last 5 years. More recent performance shows that 3-bedroom house prices have grown by 4.40%, while 4-bedroom house prices have grown by only 0.5%. Interestingly, 3-bedroom median rents have grown by 3.5% to $672 per week, while 4-bedroom rents have grown by 5.9% to $895 per week. Rental yields are a strong indicator of an asset's value, as they reflect a house's income-generating capacity. The general rule is that higher incomes lead to higher asset values. The current median rental yield for houses in the Central Coast is 2.72%. Green Point's median house rental yield is 3.6%, indicating that renter demand for Green Point houses is, o...

Author: Michael Daniels https://www.mortgagechoice.com.au/michael.daniels/our-services/mortgage-choice-in-narara-michael-daniels/ We recently wrote about Narara's median house price breaching the $1 million mark. This table illustrates how much of that growth was generated over the last 3 years. Narara's 15.40% growth rate over 3 years translates into a $134,750 improvement, averaging $863 per week. To put that into perspective, Narara's median weekly rent is $670. If you were an investor, you would have generated a combined capital and income return of $1,533 per week. Every time we see significant growth in a market, we need to ask ourselves if the good buying opportunity has passed us by. One of the best ways to verify asset value is by checking its income-generating capacity. In housing, this is known as the rental yield rate. Narara's median rental yield is currently sitting at 4% for 3-bedroom houses and 4.1% for 4-bedroom houses. According to SQM Research, the Ce...

Author: Michael Daniels https://www.mortgagechoice.com.au/michael.daniels/our-services/mortgage-choice-in-wyoming-michael-daniels/ Wyoming's Median House price grew by 3.9% last year and currently sits at $915,000. Exactly two years ago, the median house price was $775,000, which is an average WEEKLY increase of $1,346. The 3-bedroom Median House Price is $871,000, and the 4-bedroom Median House Price is $954,000. Wyoming has 1,281 3-bedroom houses and 840 4-bedroom houses, so the former group has roughly a 50% larger impact on the median. Investment property analysts will unanimously list "proximity to jobs" as a key feature for property price stability. Higher unemployment is the greatest threat to price growth and the metric that banks fear the most. Wyoming's proximity to the rapidly improving Gosford Business District, West Gosford's industrial park and the train line to Sydney jobs makes it a stable, affordable housing market. Renters occupy 27% of Wyoming...

https://www.mortgagechoice.com.au/michael.daniels/our-services/mortgage-choice-in-kariong-michael-daniels/ Author: Michael Daniels Kariong’s Median House Price Trends As a Mortgage Choice Mortgage Broker on the Central Coast, I’ve observed significant shifts in Kariong’s housing market. The median house price for 4-bedroom homes in Kariong has surged by an impressive 9.20%, reflecting strong growth in this segment. In contrast, the median price for 3-bedroom homes has unexpectedly declined by 2.30%, creating a notable gap between these housing types. Growing Price Gap Between 3-Bedroom and 4-Bedroom Homes in Kariong The price difference between 3-bedroom and 4-bedroom houses in Kariong has widened to $240,000, one of the largest gaps on the Central Coast. This significant disparity presents an opportunity for owners of 3-bedroom homes to consider adding a fourth bedroom, potentially increasing their property’s value and appeal in the Kariong market. Rental Yields for Investors in Kario...

https://www.mortgagechoice.com.au/michael.daniels/our-services/mortgage-choice-in-central-coast-michael-daniels/ Author: Michael Daniels The September Central Coast median house price has reached another record high of $1,066,420. As you can see from my chart, our house prices continue to push past the COVID-19 stimulus peak and are now $116,000 above the post-COVID-19 adjustment, where prices fell from $1,050,000 to $950,000. This chart combines the median house price results from 47 Central Coast suburbs. Twelve of these suburbs actually saw median house price falls over the last year, however, it is important to note that 50% of these declining suburbs were in the top 10 by house price size. The most expensive suburbs have been more likely to see a downward adjustment following historically high growth for this segment over the last five years. Our office is experiencing an increase in first-home buyer activity and investor activity. The 5% deposit scheme publicity is driving the fi...

https://www.mortgagechoice.com.au/michael.daniels/our-services/mortgage-broker-in-gorokan-michael-daniels/ Mortgage Choice Central Coast has provided a table ranking the 47 largest Central Coast suburbs with more than 800 houses. Gorokan has ranked as the most affordable option for people looking to buy a house with a median house price of $750,000. The Central Coast median house price is $1,066,420. Gorokan's median house price has grown by $30,000 over the last 6 months and $40,000 over the last 12 months. We suspect Gorokan's median house price will soon rise due to increased demand from the expanded first-home buyer scheme and a high annual rental yield of 4.1%, which is attracting investors. If you would like to talk with us about your property and mortgage plans, please call us at Mortgage Choice Central Coast or email us at  michael.daniels@mortgagechoice.com.au  or philip.cooper@mortgagechoice.com.au .