Following a record breaking home sale of $1,010,000 in Helios Street Woongarrah, Yeramba Estates can report two land sales this week in Hamlyn Grove, plus a brand new home in our prestigious Monterey development has now sold.

Certainly the post election market on the Central Coast in general – and Hamlyn Terrace/Woongarrah in particular, is confident.

We invite our clients to visit our lovely new homes in Eleanor Close Hamlyn Terrace – behind Homeworld. Ready to move in!

It is time to create a Forever Home or strong Investment in Hamlyn Terrace

With the election over, there is no longer a black cloud over negative gearing and Capital Gains tax.

In addition, APRA is considering lowering their assessment rate which stands currently at 7.25% – finally common sense prevails!  With current  rates around 3.99%, the gap is too wide to be sensible.

There is also strong comment that we will see an interest rate cut next month. There couldn’t be a better time to buy.

For our clients, this can mean you buy better, getting more value especially allowing for generous depreciation of new homes. Time for a positive strategy!

Call us now, so we can help realise your dream of a new home in Hamlyn Terrace 94115155 or

Finally a First Home Owner Loan Deposit scheme

Prime Minister Scott Morrison has announced a new First Home Loan Deposit Scheme that will enable first home buyers to access a mortgage with a 5 per cent deposit. Mr Morrison said: “It can take nine to 10 years for an average household to save a deposit. We want to help Australians realise the goal of buying their first home by cutting years off the time it takes to save up. 

The scheme will commence from 1 January 2020.

The First Home Loan Deposit Scheme, which will partner with private lenders and prioritise smaller lenders in a bid to “boost competition”, will be available to first home buyers who have been able to save a deposit of at least 5 per cent and earn up to $125,000 annually or $200,000 for couples. 

Industry welcomes initiative 

It currently takes more than eight years for first home buyers to save for a deposit to purchase a property in our major capital cities. This proposal has the potential to significantly reduce that time frame. One of the significant additional costs first home owners incur when they borrow more than 80 per cent of the property value is mortgage insurance, which is often in the thousands of dollars and would help FHBs save around $10,000 by not having to pay lenders’ mortgage insurance (LMI). 

 With first home buyers currently representing just 17.9 per cent of total housing loan approvals at the beginning of this year, the measure will be a timely boost not just for first home buyers but for the building sector and the economy in general.

Master Builders Australia also backed the First Home Loan Deposit Scheme, with its CEO, Denita Wawn, saying: “The scheme will be a boost for both first home buyers and residential builders who are worried about the declining housing market”. 

Changed traffic conditions on the motorway

Motorists are advised of changed traffic conditions on the M1 Pacific Motorway as work continues on the motorway upgrade between Tuggerah and Doyalson.

Roads and Maritime Services will be extending shifted southbound lanes to just north of the Doyalson interchange.

This means that southbound lanes will be shifted to the right for about 5kms from Doyalson interchange to 1.5km north of the southbound service centre entry. There will be no change to the service centre access.

These changes are expected to be in place until mid – 2019.

Source: Media release 25.2.19, Roads and Maritime Services Media

Central Coast Building Approvals on track for 2019

With the Central Coast population set to increase by 75,000 by 2036, according to the Central Coast Regional Plan, housing targets are a huge issue for Central Coast Council.

Mayor Jane Smith said Council had approved 862 development applications during the October to December 2018 quarter.

“Council approvals are an indicator of the demand for housing on the Central Coast, which is projected to increase by 2075 additional homes per year”, Smith said.

The Central Coast Regional Plan anticipates 41,500 new homes will be needed to cope with population numbers by 2036.

Since 2016, Council has approved 8355 additional dwellings.


Source: Central Coast Ordinary meeting 25.2.19

How to build the perfect home

Some 214,000 homes were built in Australia in 2018, proof that our love affair with owning our own home continues unabated. And while some of us opt for architect-designed homes and others for builds they manage themselves, the house and land package market is booming.

But for the novice, the whole process might seem a bit daunting. To help, here are five basics to consider.

1. The funds

It all starts with money. Set a workable budget, taking into account extras like landscaping and finishes. Ensure you understand the commitment and seek advice from your banking institution.

2. The estate

Most new estates are located on the suburban fringe and are greenfield sites – land that hasn’t been developed. Yeramba Estates has been developing land since 1962 and has a golden reputation of delivering quality land in great locations.
Look at how the estate suits your lifestyle: consider proximity to transport, schools, shopping centres, playgrounds.

3. The block

Blocks will differ in size, orientation and gradient, which can all impact your costs and the plan of your house. Orientation particularly can impact your energy usage, which will affect your hip pocket. Yeramba take pride in revealing all aspects of the land for sale to ensure you know exactly what you are purchasing.

4. The builder

Research the builder. Check out their previous projects, and ask for customer testimonials. Build time, pricing for post contract variations, penalties for late delivery – all good questions. Your new home is in their hands.

5. The floorplan and the finishes

Get your floorplan exactly right – it needs to blend functionality and style, and suit your lifestyle. Remember that you’ll spend most of your time in the living areas, so they should take priority.
Most builders have selection centres, where you can play with external materials and colours, creating a facade that has character, charm and individuality.

First Home Owners are better prepared to purchase

First home buyers are continuing to stake their claim on markets across the country with many usurping their competition by being better prepared to purchase.

The latest Australian Bureau of Statistics figures show that about 18 per cent of all housing finance commitments is to first homebuyers.

Lending landscape

Lenders now require more information, including a realistic assessment of living expenses, before determining whether to approve or deny a property loan.

Of course, the vast majority of home buyers and investors need finance to purchase property, but the one group who needs it the most is first-timers. Whereas, upgraders and investors might have some equity they can draw on to sweeten a deal, prospective First Home property owners generally do not, which means they have strict price points that they can afford to buy in.

The problem often is that they don’t know what those financial goal-posts are before they start searching.

While generic calculators can be useful, they are no substitute for an actual financial assessment of someone’s borrowing capacity, which generally can lead to a loan pre-approval.

What actually is a loan pre-approval?

A loan pre-approval is when a lender has provided provisional approval for a borrower up to a certain figure based on a rigorous assessment of their finances.

It’s important to understand that it’s not an approved property loan so you can’t go all crazy.

The lender will still need to have the property valued, as well as complete all the required paperwork, before they will approve a loan on that specific property.

So, you might be asking yourself what’s the point of a loan pre-approval at all?

Well, you see, it provides a level of certainty around what price you can afford to pay for a property as well as gives you confidence that your loan application – subject to the property valuation – is likely to be approved.

The rise and rise of the millennials as the new home buying forces

With the re-emergence of the 1st home buyer it seems that it’s a new breed that’s the driving force behind this.

The Millennial population, who are typically born between 1981 and 1996, represent the most influential age cohort in today’s residential property market.

The Millennials are a significantly larger group than Generation X, those born between 1965 and 1981. The oldest Millennials have entered the 25 to 34-year-old age group over the past decade.

This population growth helped create demand for the record level of new units and apartments that have been built over the past decade. Millennials have provided a steady stream of tenants to occupy these dwellings or, for some at least, first-time homebuyers buying more affordable properties in our two major cities.

A new dynamic

The ageing of the Millennial population over the next decade is expected to create a new dynamic for the residential property market.

Changes in dwelling needs

Consequently, it’s likely this family stage of life will bring about a change in dwelling needs as Millennials seek larger dwellings and more of them move from renting into owner occupation.

The boom in apartment construction over the past decade has been key in accommodating the Millennial population as young renters and first-time homebuyers, but the housing market will need to change again over the next decade to be able to accommodate Millennials in their next stage of life.

Historical demographic trends indicate that they will be looking for larger family dwellings and more of them seeking to buy rather than rent.

Where next for Millennials?

It’s not known if Millennials, many of whom now live in the inner suburbs and other high amenity areas, will follow their predecessors into the outer suburbs and regional areas in search of a house or if they will prefer to stay in the inner and middle ring suburbs.

The challenge for the market to accommodate demand from this group is to provide a more diversified range of housing options in a proximate location at an affordable price yet designed well enough to accommodate a family.

Excerpt of excellent article about Millennials by Andrew Mirams –

Central Coast affordability

Comparative affordability

Sydney and Melbourne – the nation’s largest property markets – have endured price corrections over the last 12-18 months. However, these corrections follow on from accelerated property growth: prices in Sydney and Melbourne increased by almost 50% in the last five years to a median house sales price of $960,000 and $783,000, respectively (CoreLogic). So, looking beyond the softening of the last year-and-a-half, it’s still a challenge for buyers without equity – made even tougher by the Royal Commission spooking lenders – to afford to buy in many areas of our capital cities.

But buyers and investors who look beyond the city limits will comfortably purchase a home in a regional area without the mortgage pressure of a capital city postcode. (Indeed, you might be able to buy several properties for the same price as one on Sydney or Melbourne).

But let’s compare the more populous areas. In the Hunter Valley (the region’s population is well over 600,000, with the main area of Newcastle accounting for around 440,000) the median house price is $530,000, 44% lower than Sydney’s equivalent median. The Central Coast – in some parts, only an hour by train to Sydney – is home to more than 300,000 residents and a median house price of $759,000, or 20% lower than Sydney.

With thanks to Mathew Tiller on Jan 31 2019, LJH Newsletter 2019 Vol 25

A quarter of first home buyers also considering purchasing investment property

New research from Westpac reveals a quarter of first home buyers are considering buying both an investment property and an owner-occupier home. Westpac’s latest Home Ownership Report shows first home buyers (FHBs) are feeling more confident than ever about their prospects of home ownership.

The report found 29 per cent of FHBs are considering buying both an investment property and an owner-occupier home. and the rise of positive sentiment among FHBs is hardly surprising.

This surge in confidence and positivity among first home buyers is great to see, and not surprising considering house prices have on average dipped by 2.7 per cent over the past year to date, primarily driven by the Sydney and Melbourne markets. Despite this optimism, a key barrier to first home buyers achieving their dream home remains saving enough for a deposit and upfront costs.

Market research group Propertyology has also noticed an increased interest in property investment from FHBs. Simon Pressley, managing director of Propertyology says more young people are prioritising investing earlier in life, and are turning to ‘rentvesting’.

“Rentvesting is arguably most popular among people in their mid-20s to 30s, especially those living in Sydney, because they’d rather not wait any longer than is essential to get a foot in the property ladder,” said Mr Pressley.

“For first-time property buyers, rentvesting enables you to get into the property market sooner with a smaller deposit, as opposed to taking several years to accumulate a bigger deposit and the market climbing even higher.”

Director of Right Property Group, Steve Waters, says there are many advantages FHBs have when buying an investment property.

“Young investors are usually tech savvy and can easily access and analyze data. They think quick and are fast to comprehend the available information,”

“Another advantage of being in your 20s and 30s is you haven’t yet hit your peak earning potential, so there’s usually some extra cash flow in your future to look forward to. Most of all, you get to start early and gain experience.”