Out of curiosity, how many of the advocates for buying on the Central Coast either live there or have some sort of attachment to the area (e.g. previously lived there)?
I'm interested to know how many "outsiders" would opt for the Central Coast over other regional areas.
Cheers,
Jaz
Hi Jaz,
I grew up on the Central Coast and since then have moved and lived in many other areas for work (mining).
I have lived and spent a lot of time in regional and outback towns such as Broken Hill, Orange, Dalby/Chinchilla, Alice Springs, west coast Tasmania.
So I can't say I am an outsider looking in. But I still think the region has a lot going for it.
China is right in that development is often spoken about and never delivered, however at the moment the big development that is occurring is improvements to transport infrastructure which help better connect CC to Sydney.
The F3 to M2 link is long overdue and is in the tender process at the moment and if approved construction will start next year.
Improvements to rail systems from CC are happening now and should be completed mid 2015. This will improve commuter train reliability to Sydney and there are promises for an additional 6 trains to be put on to cope with increased commuter demand.
I think the current CC pros are:
- Proximity to Sydney
- Property prices
- Cash flow positive opportunities in property
- Coastal location
- Significant population (with good growth projections)
Cons are:
- Historical poor performance from local govt
- Low tertiary education rates and higher unemployment avgs
- Oversight from both the state and federal govt regarding issues on CC
- Lack of regional identity, eg Newcastle is mining town, Sydney is big business and office space
Drivers for growth will be:
- Population boom in western Sydney
- Large price increases across metropolitan Sydney
- Recognition of CC from a state and federal level and some needed projects start to get off the ground
- Sea change from Sydney
I will add for disc I have property on CC, but am in process of purchasing in other areas now for diversification and am paying enough land tax in NSW.