Australia’s booming property market has stretched beyond capital cities with regions including the Central Coast experiencing a surge in property demand.
The desire to maximise the new working from home norm and take advantage of premium lifestyle offerings has spurred many Sydney residents to reconsider their living options.
Growth across the the region has pushed house prices across 14 Central Coast suburbs to rise in some cases by more than $500,000, joining the million-dollar median club according to CoreLogic data published in June.
|
North Avoca |
$1,466,658 |
$991,507 |
|
Copacabana |
$1,437,549 |
$938,695 |
|
Bensville |
$1,374,493 |
$953,765 |
|
Wamberal |
$1,343,872 |
$978,414 |
|
St Huberts Island |
$1,300,437 |
$977,741 |
|
Forresters Beach |
$1,287,821 |
$973,841 |
|
Terrigal |
$1,281,552 |
$939,870 |
|
Erina |
$1,133,379 |
$815,208 |
|
Empire Bay |
$1,124,865 |
$853,084 |
|
Saratoga |
$1,082,090 |
$773,002 |
|
Green Point |
$1,059,843 |
$794,316 |
|
Shelly Beach |
$1,043,038 |
$797,774 |
|
Avoca Beach (units) |
$1,041,278 |
$890,107 |
|
Davistown |
$1,037,559 |
$696,770 |
Founder and director of Sharp Property Buyers Matt Sharp said around 80% of the buyer market is coming from out of area, with the majority coming from Sydney.
“A lot of buyers are coming from Sydney, seeking lifestyle changes,” Mr Sharp told Savings.com.au.
“Because of the working from home factor, the Central Coast offers a very viable and attractive option.
“The reasons for that are obviously price, we are well-priced in comparison to the Sydney market, but not only that we have some really good amenities up here, world-class restaurants and cafes.
“In the past the objection for people not wanting to move to the Central Coast was because they would have to spend a lot of time commuting to the city, especially for those higher paying jobs.
“Given they are now working from home, that’s no longer an issue for people and the Central Coast has become a genuine option, for both middle class and upper class income earners.”
With 2022 within arm’s reach, what does Central Coast’s property market have in store over the next year? We dived in with the experts to discover which Central Coast suburbs are tipped to grow in 2022.
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Avoca Beach
Matt Sharp says Avoca Beach lies alongside the premium suburbs that have been really attractive to Sydney buyers.
Attractive may be an understatement, with the likes of a beach shack in North Avoca selling off market for $8.1m in August and an Avoca home selling for $7m in February according to Domain.
Currently North Avoca has a median of $1,795,000 based on PropTrack data, an increase of over $300,000 over six months on data provided by CoreLogic.
Lying some 11 minutes south from North Avoca’s $1.75m median, Avoca Beach has a current median house price of $1,550,000 based on PropTrack data.
Units in Avoca Beach are a major drawcard for owner occupiers and investors with the current median unit price $1,100,000 based on PropTrack data.
Bateau Bay
Matt Sharp notes Bateau Bay has experienced great growth in 2021, offering a broad range of features, amenities and lifestyle options equally as good as some of the more premium suburbs across the Central Coast.
“There’s been a good portion of investors in the area, particularly considering at times the price differences between Wamberal and Bateau Bay at times has reached up to $600,000,” Mr Sharp said.
“It’s only a couple of kilometres up the road (from Wamberal), so where do all those other bidders go? They look for the next big thing.
“The ripple effect has impacted those areas and I think will continue to do so in the next twelve months.”
Bateau Bay currently has a median house price of $950,000 based on PropTrack data.
The current median unit price for Bateau Bay is $701,500 based on PropTrack data.
Toukley
Located 107km north of Sydney CBD and 15km north of Bateau Bay, Toukley lies surrounded by the Pacific Ocean to the east, and Tuggerah and Budgewoi Lakes to the west.
“Toukley is reminiscent of Long Jetty five or six years ago,” Mr Sharp said.
“Long Jetty went through a huge transformation with mass gentrification, but now the prices to buy are expensive - early to mid 1s (millions).
“Long Jetty offers the water and the lake, great cafe precincts and of course the ocean, but now a lot of young people are moving towards Toukley and Noraville.
“The main street of Toukley have got a handful of new cafes coming on, the Beachcomber Hotel in Toukley has just had a major transformation and it’s really close to Soldiers Beach.
Soldiers Beach is just one of the few beaches along the Central Coast protected from the north-easterly winds that flow strongly in summer.
Toukley currently has a median house price of $715,000 based on PropTrack data.
Median unit price for Toukley sits at $452,500 based on PropTrack data.
Forresters Beach
Situated right on nature’s coastal doorstep between Wamberal and Bateau Bay, Matt Sharp believes good value lies within the suburb of Forresters Beach.
“Forresters Beach is starting to transform of late, they’ve got new cafes, new shopping precincts including The Quarters and its price point is really, really attractive,” Mr Sharp said.
“It’s so close to all the necessary amenities and neighbours some of those really premium suburbs.”
Forresters Beach currently has a median house price of $1,350,000 based on PropTrack data.
Booker Bay
Property expert John McGrath of McGrath Estate Agents said this charming, secluded pocket on the Central Coast sits quietly next to her better known neighbour, Ettalong.
“It’s a 75-minute drive for most Sydneysiders and prices are still relatively affordable for a gorgeous backwater,” Mr McGrath said in the McGrath Report for 2022.
“With mesmerising views of Brisbane Water, there is an exclusivity to this tiny 0.5 square kilometre peninsula suburb.”
“And with great pizza and its own village cinema, what’s not to love!”
South-east of Woy Woy, Booker Bay currently has a median house price of $1,250,000 based on PropTrack data.
The current median unit price for Booker Bay is $850,000 based on PropTrack data.
Noraville
South of Toukley and home to neighbouring Hargraves Beach, Noraville lies approximately 74km from Sydney CBD.
“As a comparable to Long Jetty, Noraville (and Toukley) is right on the water, locked in by water, so naturally there’s scarcity straight away as you can’t create any more land,” Mr Sharp said.
Noraville’s attraction to Sydneysiders and those seeking a coastal change lies in its close proximity to the beach, sense of seclusion away from the hustle of city life and convenience to local amenities.
Neighbouring Hargraves Beach has recently undergone transformations courtesy of State Government grants to benefit local residents, revegetating dunes in order to retain sand and reducing the impacts of coastal erosion.
Noraville currently has a median house price of $797,000 based on PropTrack data.
Image by Bethany Stephens via Unsplash.
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