Sitting just a short drive North of Sydney, the NSW Central Coast has long been seen as the ideal city escape. Known for its beautiful beaches and sleepy seaside villages, it has provided the perfect backdrop for Summer holidays for decades. So much so that, until about 10 years ago, holiday homes outnumbered permanent residencies in many places along the coast.
However, thanks to the increasing popularity of working from home, this is rapidly changing. Those priced out of the Sydney market are now looking further afield for more space and greater affordability. With the Central Coast offering the much sought-after combination of lifestyle and convenience, it’s on the top of the hit list for many buyers.
As a result, the Central Coast is firmly on the radar of most investors. Given the area offers both great capital growth potential and extremely healthy rental yields, it’s easy to see why.
As experienced buyers agents, here are our thoughts on investing in Central Coast property.
Luke and Julian each have over 20 years of property investment experience.
After years of being a bit of a quiet achiever, the Central Coast property market is well and truly in the spotlight. This is largely being driven by Sydneysiders looking for better value or a more relaxed, coastal lifestyle. It is also being supported by recently completed development and infrastructure projects, which have improved both the commutability and liveability of the area.
Demand for properties on the Central Coast has been swelling since mid-2020 and this has led to multiple record-breaking results. It has also seen several towns firmly plant themselves among the state’s best areas for capital growth. Importantly, it looks like this trend is set to continue, with interest in the area continuing to increase.
There is also extremely strong demand for rental propertieson the Central Coast. In fact, the area has one of the lowest vacancy rates in NSW, sitting comfortable below 1%.This has led to many locations enjoying rental yields well in excess of 10%.
As is to be expected, the greatest demand (both buying and renting) is for properties on or around the water. However, there has also been strong interest in properties in the major hubs (like Gosford and Wyong) and with good transport links.
As buyers advocates, we know that there is no substitute for research. That’s why, when considering different locations, we will look at a variety of factors, including:
To make sure we have the clearest possible picture of the current state of the market, we gather data from multiple sources. This is particularly important in highly competitive markets, like the Central Coast, as it helps us identify opportunities others may have missed.
Once we know what’s happening in an area, and what people are looking for, we can spot the properties with the greatest potential. Sometimes these will be readymade rentals that will offer immediate returns. Sometimes they will require work; but will reward those willing to put in the time, effort, and money.
Whatever the opportunity, if we believe it could suit your investment approach and goals, we will share it with you. As part of this, we will provide detailed recommendations on how to get the most from your investment. We will also arrange all the necessary inspections and reports, and even represent you in sale negotiations.
Property investment couldn’t be easier when you work with Search Party Property. Whether you’re a local looking to invest in the area, or a seasoned investor wanting to accelerate your portfolio growth, we can help.
For more information on our approach, or to discuss the state of the Central Coast property market, contact us today.