Agency Australia : The Agency Central Coast breaks six suburb records in two months

The Central Coast property market north of Sydney is experiencing an unprecedented boom. A combination of Covid-inspired regional migration, the continual growth of a remote workforce and infrastructure improvements like the NorthConnex roadwork, has made the Central Coast a buyer hotspot. Brian Whiteman's team, including Tony Trinder, Jennifer Whiteman, Bridget Dempsey, Josh Froud and Simon Mitrovich, has broken six suburb records in just two months.

"There has been a huge amount of out-of-area interest in the Central Coast particularly from Sydney, in fact, we have data showing the enquiry rate is about ten times that of last year at the same time," Tony Trinder explains. "People are seeking a different lifestyle and value for money, and with the NorthConnex the Central Coast has become another suburb of Sydney, it is so convenient now."

The six Central Coast records broken by the team include Killarney Vale, Bateau Bay, Tumbi Umbi, Holgate, Chittaway Bay and Mount Elliot. The team attributes this record-breaking sales run to their intensive and focused buyer nurturing strategy.

"There is an abundance of buyers in the market but fewer vendors, we are not only nurturing our vendors but working very closely with all our buyers to find what they are looking for. Often buyers have a specific property type in mind with specific attributes but they can become set on a particular suburb. We've had enormous success in finding the perfect property but it might in the next suburb. That is the strength of our team, we are able to cover the market broadly," Tony Trinders says.

The team has identified a number of interesting buyer trends. Investors have come back into the market in force driven by low interest rates and attracted to the Central Coast's high rental yields and low vacancy rates. The other motivated buyer group are those looking for convenient holiday homes located close to Sydney for ease of access. Both these buyer groups are committing much higher budgets than in the past. The one buyer category that is less active is first home buyers who are struggling to compete in the current market.

"We have not seen this level of investor activity in many years," Tony Trinder says. "Additionally, the holiday home market has gentrified with Sydney buyers committing much bigger budgets to these purchases. The fact that some of these record sales are $800,000 to $900,000 above the previous suburb record supports what we are seeing."

Six new suburb records over the last two months.

Address:https://theagency.com.au/26949/31c-trelawney-street-killarney-vale
Sale date: 23/2/21 for $1,785,000. An increase of $335,000 above previous record 5/8/17.
Note: buyer from Double Bay in Sydney, a duplex not a house, previous record a house.

Address:https://theagency.com.au/28509/6-guyagal-street-bateau-bay
Sale date: 10/3/21 for $2,800,000. An increase of $800,000 on the team's last record 24/9/2020.
Note: buyer from the Northern Beaches in Sydney.

Address:https://theagency.com.au/28766/4-shearwater-street-tumbi-umbi
Sale date: 25/3/21 for $1,356,000. An increase of $181,000 above the team's previous record 2/2/20.
Note: buyer from the Central Coast

Address:https://theagency.com.au/28935/85-carlton-road-holgate
Sale date: 17/4/21 for $2,700,000. An increase of $50,000 above previous record 9/4/2021.
Note: buyer from Sydney.

Address:https://theagency.com.au/28619/6-janian-close-chittaway-bay
Sale date: 20/4/21 for $1,310,000. An increase of $110,000 above the team's previous record 11/12/20.
Note: buyer from Lane Cove in Sydney

Address:https://theagency.com.au/29080/25-atkinson-road-mount-elliot
Sale date: 23/4/21 for $2,750,000. An increase of $900,000 above previous record set four years ago - the same house with only minor improvements.
Note: buyer from the Central Coast