homes ownership near Sydney

Home Ownership Near Sydney is Still Possible On The Central Coast: Or Is It?

Satellite cities like those on the NSW Central Coast provide opportunities for those wishing to enter the property market. The ever increasing house prices in Sydney remain a lure and initial obstacle for the materialistic essence of the great Australian dream of home ownership. Home ownership near Sydney is still possible on the Central Coast: Or is it? Prices are rising according to the latest figures on this front. Commuting from places like Avoca Beach, Bateau Bay, Brooklyn, Budgewoi, Cams Wharf, Canton Beach, Erina, Gosford, and Lake Macquarie to work in Sydney is a way of life for many first time property investors.

Big Government Investment Pumping into the Central Coast

The NSW State Government has invested more than $300 million in road upgrades recently. Plus, expansion of hospitals in Gosford and Wyong to the tune of half a billion dollars is all about preparing the infrastructure for these population growth regions. The NSW Department of Planning & Infrastructure’s survey has the Central Coast population increasing by 386, 900 by 2031. 65% of this growth is coming from outside of the region. Therefore, a Lake Macquarie and Central Coast home ownership opportunity makes perfect sense in 2021 and beyond. This is the new paradigm for those wishing to access the Mecca of Sydney for employment and business opportunities.

Rapidly Growing Local Economy

In addition, the Central Coast region of NSW has a rapidly growing local economy worth some $11.7 billion. This is not just the usual mainstay of tourism either, with IT and telecommunications sectors housing their operations in this neck of the woods. Gosford is a major regional city in NSW and home to many state government agencies. The rising property market is reflective of this increasingly buoyant economic situation in an area, which used to be a backwater with high youth unemployment.

The future looks bright on the Central Coast for home buyers wishing to be within cooee of Sydney. House prices on the Central Coast for the 12 months to March 2016 grew by 13.6% in comparison to Sydney’s 12%. The general migration, inspired by Covid in the capital cities, is seeing people move enmasse to regional areas within Australia. The get out of Sydney movement will only continue in 2021 and beyond during this pandemic. Those wishing to escape lockdowns will make tracks for places like Woy Woy, Copacabana, Avoca, and Killcare Heights. Home ownership near Sydney is still possible on the Central Coast.