Central Coast Property Market Update 1st Half of 2021

In Q1 2021, Hamlyn Terrace recorded a median house price of $730,000, and a median unit price of $500,000. This represents annual (Q1 2020 – Q1 2021) median price growth of 16.8% for houses and 13.6% for units. Between Q1 2020 – Q1 2021 total sales in both markets increased, by 21.1% for houses (to 517 sales) and by 60.5% for units (to 130 sales). Median price growth alongside increased sales suggests real returns on capital investment in Hamlyn Terrace. Now is the time to transact, particularly for owner-occupiers looking to benefit from a highly demanded market.

The average days to sell property in Hamlyn Terrace have declined in the 12 months to Q1 2021, to 37 days for houses, and to 62 days for units. This suggests buyer demand is on the rise as these properties are selling more quickly, meaning buyers must act now.

In March 2021, house rental yields in Hamlyn Terrace were recorded at 3.7%. In the 12 months to Q1 2021, the median house rental price has increased by 5.3% to reach $400 per week, while average days on the market declined by -36.0% (to just 15 days). Overall this suggests Hamlyn Terrace has remained a highly resilient rental market throughout COVID-19.

3 bedroom houses have provided investors with +7.1% rental growth annually, achieving a median rent of $450 per week.

Also in March 2021, Hamlyn Terrace recorded a very low vacancy rate of 0.7%, on-par with Central Coast LGA (0.7%) and well below Sydney Metro (3.4%). Hamlyn Terrace’s vacancy rate have seen a declining trend since December 2019, whilst remaining well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%, even amidst COVID-19 conditions. There is an ongoing healthy rental demand, thus a conducive investment environment in Hamlyn Terrace.