New figures show several suburbs across the Central Coast are in the State’s top 10 locations for first home buyers.
National data from property experts InfoTrack found there was a 62 per cent increase in real estate sales across the country, when comparing January to March, as house prices fell.
InfoTrack’s Property Market Update Q1 2023 confirmed the Central Coast is a property hot spot.
InfoTrack’s Head of Property Australia, Lee Bailie, said the 2250 postcode came in at number five for the highest volume of sales for first home buyers last quarter.
“We’ve seen more and more first home buyers looking to purchase outside of the central Sydney metropolitan area, and access to more affordable properties still in commuting distance to the CBD, along with beautiful beaches, waterways, family friendly parks, and a strong café culture, make the Central Coast very appealing,” Mr Bailie said.
“The 2250 postcode encompasses 34 suburbs in the Central Coast, including Gosford, Erina, Mount White, Peats Ridge and Wyoming. It was the only area outside of Sydney’s west and southwestern suburbs to make the top 10.
“New South Wales’ number one spot for sales volume last quarter was postcode 2155, which encompasses Kellyville and Rouse Hill, while Blacktown, Liverpool and North Parramatta also featured in the top 10 locations.”
InfoTrack’s Property Market Update also found houses were the top choice for first home buyers in New South Wales.
“Strata properties represented the greatest portion of sales for this buying cohort at the end of 2022, but the start of 2023 has seen this shift to House Owner Occupied,” Mr Bailie said.
“House Owner Occupied represented 50 per cent of sales based on land use for first home buyers, compared with 46 per cent of Strata Owner Occupied properties.
“Given the overall strong performance of property sales over the most recent quarter, we expect more Australians to take advantage of the current buyer’s market to purchase their first home.”
The full report can be viewed here.
