The Central Coast is proving to be a top choice for New South Wales First Home Buyers with two local suburbs now in the top 10 locations for property sales.
Prop tech firm InfoTrack has released its Property Market Update Q3 2024, naming the suburbs with the highest volume of sales to First Home Buyers from 1 July to 30 September this year.
The postcode 2259, which covers 42 Central Coast suburbs including Wyong, Tuggerah, Warnervale, and Moonee, made it on the list for the very first time, debuting in eighth position.
It joins nearby postcode 2250, covering another 34 Central Coast suburbs, including Erina, Gosford, and Kariong, which has appeared in the top 10 four times over 2023 and 2024; most recently in eighth position in Q1 this year.
InfoTrack’s Head of Property, Australia, Lee Bailie, said the region has seen a boost in popularity.
“The Central Coast is a lifestyle destination, with an array of attractive beaches, surfing hot spots, and national parks, but still offers every amenity for modern living, and is commutable to Sydney,” Mr Bailie said.
“Its relative affordability makes it a great option for First Home Buyers.”
The remaining eight suburbs on the top 10 list were in Greater Western Sydney.
Number one for First Home Buyer house sales for Q3 was postcode 2170, encompassing the Western Sydney suburbs of Casula, Chipping Norton, Liverpool, Mount Prestons, and Moorebank, which was up from second place in Q2 2024.
In second position was postcode 2560, which covers 19 Western Sydney suburbs including Airds, Campbelltown, Glen Alpine, Leumeah, St Helens Park, and Woodbine.
Postcode 2145, encompassing Girraween, Greystanes, and surrounds rounded out the top three.
“New entrants for this quarter compared to last quarter include postcodes 2148, covering Blacktown, 2747, covering Shanes Park, 2259, covering Wyong, and 2250, covering Gosford.”
The InfoTrack report also found an increasing number of First Home Buyers are opting for strata properties, with more than 54 per cent (%) buying a unit, over a house last quarter.
“House transactions have had an almost 5% drop among this buying cohort this year, decreasing from 47.14% in Q1 to 43.1% in Q2, now only maintaining 42.91% share in Q3,” Mr Bailie said.
“This is due in part to an increase in medium to high density housing developments which are being purchased off the plan, and the greater affordability that apartments and units offer.”
The list of the top 10 postcodes for New South Wales first home buyers is below.
The full report can be viewed here.
