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George Witherspoon from George Brand Real Estate Terrigal. George Witherspoon from George Brand Real Estate Terrigal.
08 April 2017 Posted by 

How Sydneysiders are being seduced by Coast lifestyle

By Di Bartok
AS Sydney property prices spiral out of control, there has been “a huge influx” of home-seekers moving to the Central Coast, according to data and local real estate agents.
 
David Howes from Raine and Horne Woy Woy said he noticed a steady increase in people looking to move from Sydney about two and half years ago, when the median Sydney house price reached $900,000.
 
But, with the influx of cashed-up Sydneysiders, prices are steadily climbing on the Central Coast, with a bonanza year predicted for 2017.
 
Ettalong Beach and Umina are seeing huge demand due to their proximity to Sydney.
 
Still, there are enough bargains around for the first home buyers, mostly around Budgewoi, Toukley and Gorokan.
 
“Every time we have an open home, out of five, two would be from Sydney,” Mr Howes said.
 
“For a price range of late $400,00s to mid $600,000, you can pick up a decent home on the peninsular. But prices here are creeping up. Three years ago you could pick up a fibro or weatherboard house with a detached garage on 500 sq ms - now that would be $580,000.”
 
Mr Howes said the newcomers from Sydney ranged from couples in their late 20s, through to retirees, families and investors.
 
“There’s a bit of Chinese money coming here but not a great influx of developers from Sydney as they still see a lack of infrastructure,” he said.
 
Mr Howes said Sydneysiders preferred the peninsula suburbs of Woy Woy, Ettalong Beach, Patonga and Pearl Beach because of their proximity to Sydney.
 
“People tend to come from the North Shore, Northern Beaches, the Hills and some from the West. Those in the southern suburbs tend to move to the south coast,” Mr Howes said.
 
“The Central Coast is fast becoming an outer Sydney region but with a better lifestyle.”
 
Apart from first homebuyers seeking more bang for their buck on the Coast, more mature folk are trading in their prestige North Shore and Hills homes for homes closer to beaches or water outlooks.
 
George Witherspoon from George Brand Real Estate Terrigal said Sydneysiders selling their homes for $1 million-plus were able to buy “something decent” $800,000 or so.
 
But, in prestigious Terrigal, a waterfront home would still be $1.5 million - with a comparable Sydney home more than $2 million.
 
“People move here for the lifestyle and the price, even though they might still have to commute to Sydney,” Mr Witherspoon said.
 
“I mean, who wouldn’t want to come home to this?” he said, as he swept his hand across the view at Terrigal.
 
At a glance
 Medium house price: Sydney $995,804, Gosford $700,000. Best buys: Budgewoi, Gorokan, Toukley.
 


editor

Michael Walls
Publisher
P: 0407 783 413
E: Michael@accessnews.com.au

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