With housing affordability an ongoing issue in Sydney and median house prices now nudging $1.1m, more young couples and families are choosing to move to the Central Coast to get more “bang for their buck” and for the obvious lifestyle benefits of coastal living.
Many home buyers are simply giving up on Sydney and looking to other markets for a lifestyle change. The Central Coast remains popular due to its easy access to both Sydney and Newcastle for commuters” said Godfrey Franz of Matrix Property Group.
“The Central Coast still offers a range of large, well located land parcels that are sometimes already zoned for residential development,” said Mr Franz.
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Desperate househunters who cannot afford Sydney’s skyrocketing prices are turning to the Central Coast, where they’re snapping up homes for half the price.
Experts say the lure of the beach is also encouraging millenials – otherwise known as Generation Y – to make the trek north.
“Sydneysiders are being pushed from Sydney by high house prices, but the Central Coast has a lifestyle pull factor,” demographer and social researcher Mark McCrindle said.
“(It’s) now being seen by this next generation – Generation Y – as a place to live, work and raise children, not just to holiday or retire.”
The Central Coast’s median house price is $550,000 – almost half Sydney’s $900,000 figure. ABS data shows the region has had the fourth-largest population growth in the state over the past year.
Central Coast agents say up to 60 per cent of buyers at open homes come from Sydney.
Reproduced in part from article by Jill Stevens of Sunday Telegraph 9.4.2017
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