Quality housing over quantity expected in Gosford: Herron Todd White

Local developers around Gosford are producing a quality housing product over quantity - a feature most noticeable when contractors outside the area enter the market, according to Herron Todd White.

The Central Coast, according to Herron Todd White's September Month in Review, is somewhat insulated from developers reducing the size of units, with new one and two bedroom apartments growing in square metres when compared to older apartments.

The report stated proposed developments in the Gosford CBD have seen high demand in the past months with whole allocations selling off the plan - possibly due to the long absence of new unit developments 

"This is particularly from foreign and out of area investors. It would appear to be sustainable in the short term, however, once a supply point meets market demand, it’s "anticipated to flatten out to a more stable market," it noted.

"It is accepted that market values are rapidly rising at present, but we doubt the Gosford market is ready for some of the prices being bandied about and if these price indications are realised, then we doubt that their long term sustainability can be guaranteed through any market correction periods. 

"Away from the Gosford CBD, the beachside suburbs nearly always deliver on value for money and rather surprisingly because the rapid rise in values has been a little slower in reaching these markets, we see good value and sustainability. The peninsula areas of Umina Beach, Ettalong Beach, Woy Woy and Booker Bay have been in continual growth mode for several years."