Central Coast the only Sydney region forecasted for positive growth

Posted by | July 23, 2018 | Community, Industry News, News

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THE Central Coast property market continues to speed ahead, as new data reveals it is the only Sydney region forecast for positive growth.

According to Moodys Analytics, based on CoreLogic’s Hedonic Home Value Index, the Central Coast is the only area poised to see growth in the residential property market for both 2018 and 2019.

The data also predicts a divergent national market, with declines in the biggest markets of Melbourne and Sydney.

The Coast is categorised in the survey as a region of Greater Sydney, and it’s the only area to avoid a dismal drop in home value forecasts.

The report indicates that by 2019 Central Coast houses will experience an increase in value of 8.5 per cent, with apartments forecast to do even better at 12.4 per cent.

Millionaire developer Tony Denny, who has spearheaded six Central Coast apartment developments over the past couple of years, said he believed there was still a shortage of quality apartments and houses on the Coast.

He is so invested in the area that he has spent almost half a billion dollars building up his portfolio — and he doesn’t see it ending soon.

“I do believe there will be continued growth on the Central Coast because of those factors,” he said.

“But the Central Coast has never really had big highs and lows – it’s been consistent and just appreciates gradually, which is a nice conservative way to experience capital growth.

Source: https://www.news.com.au/finance/real-estate/sydney-nsw/central-coast-the-only-sydney-region-forecasted-for-positive-growth/news-story/7ceb82978640e107947ee35b3f901cf6

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