Trends likely to emerge post COVID-19 could benefit Central Coast property market
Experts say that some trends likely to emerge post COVID-19 could benefit the Central Coast property market.
Property experts are suggesting that the Central Coast housing market may benefit from some trends that are likely to emerge post COVID-19.
Originally published on realestate.com.au
By Jess Verrender
29 Apr 2020
With workers realising the viability of working from home and retirees keen to escape populated areas, the coastal region north of Sydney might be the perfect escape for potential buyers.
“The Central Coast market was trending upwards late in 2019 and early in 2020, before the onset of the virus shutdown period, and is set to be a strong market longer-term,” HotSpotting’s Terry Ryder said.
Hotspotting property analyst Terry Ryder.
Wamberal beach on the Central Coast.
“This trend will be further exacerbated by the current situation, which is forcing people to work from home. Some will make it a permanent arrangement.”
With property significantly cheaper and a location just an hour and a half north of Sydney, Central Coast Buyers Agent Matt Sharp said that it would be a no-brainer for Sydney buyers to make the move north.
“This was already happening, but I can see it gaining momentum,” he said.
“With the enhancement of technology, companies will start to see that it’s a legitimate option.Even commuting part-time to Sydney would work for a lot of people.
Central Coast Buyer Agent, Matt Sharp.
Commuters may find travelling from the Central Coast cheaper than buying in Sydney.
“I struggle to comprehend how young families can buy in Sydney…you’re talking $2 million plus just to live near the beach.”
Realestate.com’s Chief Economist Nerida Conisbee recently told the Daily Telegraph that regional search activity has continued to grow since COVID-19 restrictions, as Australian’s began to reassess their housing situations.
And it is not only Sydney workers that might start looking further afield.
National online retirement property site Downsizing has revealed that of the top ten most searched suburbs for retirement villages since COVID-19, the Central Coast is incredibly popular, with Chain Valley Bay and Kincumber two of the most searched suburbs in NSW.
The Sydney downsizers moved to Terrigal last year. Picture: Troy Snook.
Both suburbs offer over 50s retirement communities, with mobile homes on the market for as little as $249,000.
Sydney did not even make the list, even though in the month March 20 to April 20 last year the most searched suburb in NSW for retirement accommodation was Bayview in Sydney’s Northern Beaches.
