Central Coast Property Market Update 2nd Half of 2021

In Q3 2021, Hamlyn Terrace recorded a median house price of $825,000, and a median unit price of $575,000. This represents annual (Q3 2020 – Q3 2021) median price growth of 29.3% for houses and 15.0% for units. Between Q3 2020 – Q3 2021 total house sales slightly softened by -1.6% to 678 sales whilst total unit sale increased by 15.7% to 140 sales. This indicates strong returns on capital growth for property owners in the Hamlyn Terrace area, as the house market is undersupplied. Now is an ideal time for any owners and down-sizers looking to transact in the market.

Average vendor discounts between Q3 2020 and Q3 2021 have tightened for units, to -0.2%, and swung to a premium for houses, to 0.3%. Market conditions in Hamlyn Terrace have been trending to favour sellers since the beginning of 2020, where buyers are willing to pay closer or above the initial listing price set by vendors.

In September 2021, house rental yields in Hamlyn Terrace were recorded at 3.2% whilst unit rental yields were recorded at 6.6%, almost double that of Sydney Metro (3.4%). In the 12 months to Q3 2021 the median house rental price increased by 15.6% to reach $520 per week, while average days on the market increased by 1 day (to 18 days). Overall, this represents a strong rental market throughout 2021.

4+ bedroom houses have provided investors with +13.2% rental growth annually, with a median rent of $600 per week.

Also in September 2021, Hamlyn Terrace recorded a vacancy rate of 0.5%, slightly below that of Central Coast LGA (0.6%) and well below Sydney Metro (2.7%). Vacancy rates in Hamlyn Terrace have trended at a historical low for the past 12 months and continue to remain well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%. This confirms there is a healthy rental demand and investors can be confident of a conducive investment environment in Hamlyn Terrace.