Money pouring into NSW's Gosford: Raine & Horne

Gosford on the NSW Central Coast is firmly on the investor map, with the city council attracting more than $1 billion worth of potential development to its city centre since mid-2014, according to Raine & Horne.

Since mid-2014, the council has received $1.01 billion worth of development applications for the city centre alone.

Raine & Horne Commercial principal Brett Hunter predicts the Central Coast’s next property boom will be led by its commercial market.

“We’ve seen plenty of commercial space sitting idle for a while now, however, the worm is turning and improved business confidence is driving more leasing and buying enquiries,” said Brett.

“We’re seeing plenty of new developers who are buying greenfield sites on the Central Coast. The plan is to develop them, market them and make a profit.”

He said the reinvigoration of Gosford remained a vital cog in the development of the region’s commercial credentials.

“The ATO is relocating to Gosford, but we still need more high-rise residential blocks similar to say St Leonards, along with the development of the waterfront on Brisbane Water, which has the potential to be the equivalent of Rushcutters Bay in Sydney,” he said.

“A strong nautical industry would be very good business for the Central Coast, what with regattas, the building and trade of yachts and so on.”