2016 was a stellar year for the Central Coast property market. After several years of steady improvement post-GFC, the market really took off with all elements coming together to create exceptionally strong conditions. Tight stock levels across the board saw many record results achieved both in the prestige and lower end of the market.
 
In 2017 I believe the market will continue its strong momentum. Over the holiday break we did not see the traditional slow down which is a good indicator for the following months. The first quarter in particular will show great strength with a steady flow of stock hitting the market. Properties in the upper end priced between $2m-$2.5m will be in very high demand however the market will be buoyant across the board.
 
We continue to see an influx of Sydneysiders purchasing in the region. The Central Coast is viewed by many now as an extension of Sydney, and its relative affordability when compared to the city is contributing to its desirability.
 
Gosford is one of the stand out suburbs which I believe offers good prospect for growth. The rejuvenation of the Gosford CBD is exciting and has brought confidence back to the area. The NorthConnex project will also improve access from Sydney and Western Sydney to Gosford and the Central Coast which will benefit the area in terms of employment, property values and tourism.  Long term I believe it’s going to see substantial growth and development.
 
In addition to Sydney buyers, we are also seeing more expats purchasing in the local area. They see the market at the bottom of a growth trajectory with beachfront properties the most sought-after. These buyers recognise that they can buy a luxurious beachfront home at a significantly lower price point than they could in Sydney.
 
An exciting new trend on the Central Coast is the rise of quality new developments.  Marina on the Point Frederick waterfront and Akoya at Terrigal beach are two examples of high quality projects which have sold out in a very short period of time.
 
This new wave of development activity is a positive for the region and is providing a standard of housing that is equal with major metro areas.  We are finding these developments are particularly popular with investors and downsizers seeking quality amenities, lifestyle offerings and value for money.

See also:

Why the Central Coast is hot property

Two waterfront homes with two titles in Woy Woy

Why home buyers are leaving Sydney for the NSW coast