NSW Central Coast predictions 2022

Thoughts on the CC and how it may perform this year?

I know of many families selling up in Sydney (Western, Hills Shire etc) and moving over to the CC especially around Toukley, Bauteau Bay etc.

There has been an uplift in prices over the last year (Hold an IP) like everywhere however keen to hear thoughts and from people on the ground on how the CC as a whole may perform in 2022.

 

Boom times ahead for the CC!!!

 

Either boom or kaboom lol

Hard to say. I should have bought there 5 years ago. It’s made some nice gains from what I can see.

 

All your relos have made good & moved to You-miner.

 

Mum looked at a waterfront at Ettalong recently. They want $6.6m! Insane prices…

 

Wow that’s crazy!
Some areas are still under 1mil and close to the beach.. not sure about the demographics etc but certain areas definitely seem undervalued compared to Sydney! I guess not ever CC suburb is the same

 

That’s what I want to hear

 

it used to be known as Mt Druitt by the sea.

but times are a changing

 

Hard to know what is

Still rough.

 

Which suburbs specifically? Keen to hear as I’m sure some are more than others??

 

Actually, Watanobbi.

 

I should've known better, You-miner sounds like they've got a job.

 

Umina has the better break
just park the Sandman and chill
dont even need to go to centrelink to get your cheque

the long wave

 

Finally a dedicated Central Coast thread!
Just spent the weekend there at one of my IP and wished could just move into it now. There’s currently a place selling on my street and the street was a car park way before open start times began. All buyers are from Sydney. Rents are going nuts up 49% since March 2021 being taken up by Sydney families outpriced in Sydney. 45 mins back into Sydney with multiple beach options (free parking) and laid back lifestyle.

 

Lots of bargains compared for what you get equivalent in Sydney and better rental yields some renting up to $1k per week. All local renters priced out by Sydney bidders.

 

From memory start of Dec 2021 there was 1400 open listings.

Started January at just under 1200, now up to 1315.

I think overall heat has come out of the market and things are generally taking a bit longer to sell. Clearances dropped like Sydney. Starting to see occasional discounting.

Some area's still getting some strong results. Essentially any of the beach suburbs. I think the rapid price growth has moderated but.
Unique or A-grade properties will still surprise.

A lot of it I think is, prices were going up quickly last year so people were just projecting forward and asking really high prices.

A lot of acreages have still been getting solid results.

It wouldn't take much for those vendors to meet the market, reducing listings like happened end of last year.

 

Which suburbs are still of value for long term CG (10-15 years)

 

Everything on CC is long term CG. There’s instant value equity now. Just check how much they selling land $700k and rising and are getting smaller and smaller. To build a decent house on top can cost up to $1.5m due to rising build costs (cost $400k when some of existing was built). How I see it anything under 1.2m on a big block and nice built house is a bargain.

 

That's what I want to hear

 

Just had another look at listing numbers, looks to be pushing back towards ~1400.