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.
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