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Michael Daniels

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Mortgage Broker in Hornsby , Asquith & Berowra

MARKET UPDATE -  Hornsby , Asquith & Berowra

20/04/2025

The Central Coast median house price is currently $1.029 M. Our neighbouring area, Hornsby, has a median house price of $1.940 M.

As you can see, the Hornsby region's median house price has well exceeded its COVID-19 peak, which was arguably created by 2% mortgage interest rates. Despite interest rates rising by around 4% since the pandemic emergency levels, their house prices have increased by around $300,000 since March 2023.

Why do you think their median house price has risen so quickly since early 2023?

15/04/2025

This chart tracks weekly rental prices in the #CentralCoast of NSW from 2010 to 2024 for all houses, 3-bedroom houses, all units, and 2-bedroom units (Source: SQM Research).

Rental Cost Trend:

In 2010, median weekly rents were $300–$400 across categories.
Prices grew slowly until 2018, then surged from 2019–2020. By 2024, rents reached $600–$800, doubling in a decade.

All property types followed a similar upward trend, with houses generally more expensive than units.

Factors Driving Rising #Rents:

#Population Growth: Increased demand from #Sydney migrants, aided by remote work, has strained the #rental market.

Limited Supply: Housing development hasn’t kept up, creating a supply-demand imbalance.

Sydney Spillover: High Sydney rents have pushed renters to the Central Coast, reducing its affordability.

Short-Term Rentals: Tourism has led to more #Airbnb listings, reducing long-term rental stock.

#Inflation: Rising costs since 2020, including interest rates, have prompted #landlords to hike rents.

Lifestyle Appeal: The region’s coastal charm has driven demand, with renters willing to pay a premium.

Conclusion:

Rents in the Central Coast have doubled since 2019 due to demand, limited supply, economic pressures, and lifestyle appeal, aligning costs closer to Sydney’s.

Please call me if you would like to review your investment property borrowing capacity (including #SMSF).

26/08/2024

Median House Price for Asquith www.realestate.com.au - Asquith

 

21/08/2024

One of the best sets of data for monitoring the health of a property market, especially on the Central Coast, is the Rental Vacancy Rate. Investors use this information to gauge the current supply and demand position and predict the future direction of rental yields. This terrific chart shows the history of the Central Coast Vacancy rate since 2005. 
 
The current rental property vacancy rate is around 1%, based on an estimated 37,500 rental properties. A low vacancy rate indicates that rents are more likely to increase as demand appears to exceed supply. 
 
As you can see, the current Central Coast vacancy rate is historically low. Is this scarcity driving up our rents? I will answer that question with more data tomorrow, but I can confirm that my current experience as a mortgage broker on the Central Coast is that we are seeing an increase in renters seeking to buy their own homes and investors looking to purchase cash-flow-positive properties. Both of these trends indicate that rents are on the rise.
 
Please give me a call on 0414255530 if you would like to talk through your property plans.
 

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