Plenty of options for first home buyers on NSW Central Coast: HTW

The Central Coast region provides many choices or first home buyers, according to HTW’s Month in Review: March 2017. 

The valuation firm says at the northern end of the region, first home buyers would be looking at Gwandalan for newer housing and Lake Munmorah, San Remo, Budgewoi and Gorokan for older dwellings.

New housing in the Woongarrah, Hamlyn Terrace and Wadalba areas are also available for those with a little more to spend.

“In terms of prices, this nowadays starts above $400,000 for older dwellings and upwards of $500,000 for newer housing,” HTW says.

“Depending on the location and price, many of these dwellings will be unrenovated.”

In the south of the region, first home buyers have been eyeing off suburbs such as Narara, Niagara Park and Wyoming as a starting point.

“ These are older suburbs with generally older dwellings and prices rarely seen below $500,000 with good transport links, close to schools and close to shops,” the report says.

“The main northern railway line runs through the region, but without rail corridors to the suburbs away from it, public transport is a little limited on the coast, so options for first home buyers without motor vehicles are similarly a little limited.

“However, the number of new unit complexes recently completed, currently under construction, planned and already existing in the Gosford City Centre should go some way to addressing this problem.”

“Old and new units provide an affordable option for first home buyers with the prospect of turning them into investment properties should unit living be replaced by living in a freestanding dwellings.”

HTW says that the price point for investors and owner occupiers is quite similar and many of the typical first home buyer suburbs are shared with investors.

It considers house and land packages mostly good value when the inclusions in the products are listed.

“In terms of housing, the suburbs of Woongarrah, Hamlyn Terrace and Wadalba are where the bulk of the house and land packages can be found,” it says.

“Many have four bedrooms, two bathrooms, double garage, modern finishes and are ready to move into.

“Prices are in the mid to high $500,000s with more affordable options available for smaller dwellings, but with the same level of finishes and amenity.

“For those who find new housing in a developing estate not to their liking, we suggest the buy and renovate option.”

A four bedroom house at 40 Hamlyn Road, Hamlyn Terrace (above) has been listed with a price guide of between $640,000 to $680,000.

Similarly a four bedroom house at 2 Tooloom Close, Woongarrah (below) has been listed with a price guide of $685,000.