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Michael Daniels

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Mortgage Broker in Kariong & Lisarow & Springfield

MARKET UPDATE - KARIONG, LISAROW & SPRINGFIELD

07/04/2025

Berowra vs. Kariong: A look at two popular Sydney commuter suburbs and what they could mean for your finances.

Right now, the median house price in Berowra stands at $1,630,000, while Kariong sits at $970,000. That’s a gap of $660,000. If you were to borrow this amount, here’s what it might look like: With a 30-year loan term and an example interest rate of 6% per annum, your weekly repayment would come to about $912.34. Over a year, that totals approximately $47,441. I’d gladly run a custom calculation based on your situation—reach out!

Google Maps shows the distance between Kariong and Berowra as 34.1 kilometres, taking around 22 minutes to drive at midday (based on 07/04/25 conditions). If your car gets 10 kilometres per litre, a round trip will use roughly 6.9 litres of fuel. At $2 per litre, that’s about $13.64 per day. For a five-day week, you’re looking at approximately $69, or around $3,274 annually. Remember that this covers fuel only—additional costs like maintenance, insurance, and depreciation should also factor into your budget.

Whether Berowra, Kariong, or another #CentralCoast spot catches your eye, feel free to call me to chat about securing the right financing for you.

Disclaimer: These numbers are estimates based on general assumptions and sample data. Interest rates, fuel prices, and other variables can shift.

 

25/08/2024

Kariong Median House Price - www.realestate.com.au - Kariong

 

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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