Central Coast Property Factsheet 2nd Half 2018

Now is the perfect time for investors and first home buyers to enter postcodes 2259 and 2261 property market, as it is expected to have significant growth due to the $116.1M worth of projects planned for the 2^nd half of 2018. This complements the increasing population and great housing demand in the area.

Postcodes 2259 and 2261 recorded a median house price of $640,000 and $455,000 for units in Q3 2018. This represent an annual (Q3 2017 – Q3 2018) price strengthening of 4.7% for houses and a relatively stable unit market. Central Coast Council Local Government Area (LGA) recorded a median house price of $650,000 and $505,000 for units. This indicates an annual (Q3 2017- Q3 2018) strengthening of 2.4% for units, while houses remained stable. Compared to the LGA property in postcodes 2259 and 2261 are more affordable, with higher capital growth for houses.

Median house rental prices have remained stable over the past 12 months to Q3 2018 for both houses and units, at $450 per week and $365 per week respectively. Investors are benefiting from very low average days on the market for both rental property types (25 days for house and 29 days for units), which indicates a quicker return to investment. This suggests that there is a strong rental demand in postcode 2259 and 2261, conducive for positive investment in the future.

Residential investment account for the majority of future development in postcodes 2259 and 2261 (61.4%), followed by commercial development (30.8%) and industrial (7.7%). This strategy will assist in fulfilling housing demand due to population growth, whilst stimulating the local economy through the creation of local jobs. This points to sustainable growth in postcode 2259 and 2261.