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Michael Daniels

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Mortgage Broker in Toukley , Budgewoi & Lake Munmorah

MARKET UPDATE - TOUKLEY & BUDGEWOI & LAKE MUNMORAH

17/04/2025

This information from Michael Matusik gives us an insight into the Central Coast property market. Michael’s observations are set out below:

“Aussies move around a lot. In fact, according to the ABS, more than 40% of households changed addresses over the past five years. Every year, about one in seven of us packs up and shifts home. But not all of us move at the same pace - renters move more than three times as often as homeowners, and younger folks change addresses far more frequently than retirees.”

“So why do people move? Housing reasons top the list. Roughly three-quarters of all moves are driven by the need for better, bigger, cheaper, or just different housing. Wanting to buy a home is the #1 reason, followed closely by needing more space, lease expiry, or the push to downsize.”

Two takeaways for the #CentralCoast:

1. Some of my recent posts using ABS data show that our population is significantly older than Sydney’s. Based on Michael's table, this likely means that our property stock turns over less often, meaning fewer buying opportunities for younger generations, potentially leading to higher migration to Sydney.

2. The Central Coast could reduce the exodus of younger people by facilitating more free-standing dwellings. This would provide more buying opportunities and improve affordability by increasing supply to meet demand.

 

25/08/2024

Toukley Median House price www.realestate.com.au - Toukley

 

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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