If you’re thinking of selling, then now could be the time because the NSW Valuer General has revealed land value across the Central Coast has soared by 45.5%.
Residential land values across NSW has increased by 24.8% overall from $1.4 trillion to $1.8 trillion, with the largest increases in residential values occurring in Hunter Coast, which takes in the Central Coast, Lake Macquarie, Newcastle and Port Stevens LGAs.
The annual report found the total land value for the Hunter Coast area has soared 36.6% between July 1, 2020, and July 1, 2021, from $124.8 billion to $170.5 billion.
The Central Coast was the biggest mover and shaker for the Hunter Coast area, with total residential land value soaring by 45.4%.
Commercial value also rose by 29.4% across the Hunter Coast area, with Umina Beach and Ettalong Beach experiencing the largest increases on the Central Coast, consistent with surrounding residential values.
Not to be outdone, industrial land value across the Hunter Coast area also increased very strongly by 27.6% with industrial precincts in Erina and Kincumber experiencing the strongest increase on the Central Coast.
NSW Valuer General Dr David Parker said the increase across the board can be put down to more and more buyers looking to the region thanks to it being a short commute to Sydney and affordable coastal living.
“The residential market has experienced a continuing trend of buyers focusing on regional areas in search of greater affordability and preferred lifestyle options,” Dr Parker said,
“This green change, tree change, sea change and ski change has been exacerbated by greater employer flexibility in work locations as a result of home working during COVID.”
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Images: Supplied
By Bek Lougher
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