The prices in some areas of the Coast grew by 40% in just 12 months.
While the rest of Australia is experiencing a recording-breaking decline the housing market, the Central Coast continues to buck the trend with housing prices continuing to grow in 2019.
According to a report by Moody’s Analytics, the overall Central Coast market grew by 3.8% in 2018 with numbers expected to rise another 8% in 2019.
This comes as areas like Sydney struggle through a housing market decline of -5.1% with the market only expected to improve by +0.6% in 2019.
The report suggests that there is currently an exodus of Sydney residents to the Central Coast due to the combination of high house prices in the capital and limited wage growth.
Just recently, Central Coast suburbs Kariong and North Gosford were named as some of the most in-demand areas in Australia – a ranking stemming from Sydney dwellers making the decision to move north.
The Central Coast has seen some large growth in 2018, with house prices skyrocketing by up to 40% in some areas of the Coast.
The house prices for Shelly Beach grew by 20.6%, while Blue Bay skyrocketed by around 39.3%. Meanwhile, unit prices in Avoca jumped by 33.5% and 12.1% in North Gosford.
SEE ALSO: Calls to change controversial 40km/h road rule – click HERE to read!
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Written by Kate Stevens
Images: Getty
