Australian Coat of Arms

Member for Blaxland

Shadow Minister for Housing and Homelessness 

Shadow Minister for Regional Services, Territories and Local Government

 

Harder to buy a home on the Central Coast than ever before

HARDER TO BUY A HOME ON THE CENTRAL COAST THAN EVER BEFORE

 
The cost to buy a home in Australia has jumped by about 21.9 per cent in the past 12 months.
 
On the Central Coast, it has jumped even more by 29.4 per cent, and in areas such as Copacabana prices have increased by almost four times the national average.
 

LOCATION

MEDIAN

YOY

5-YR

Avoca Beach

$1.4M

27.7%

75.8%

Terrigal

$1.22M

36.7%

58.9%

Umina Beach

$880K

22.2%

48.9%

Woy Woy

$760K

22.6%

35.7%

Saratoga

$1.09M

27%

58.1%

Copacabana

$1.67M

82.6%

123.7%

Kincumber

$900K

34.4%

60.7%

Bateau Bay

$870K

23.4%

49.7%

The Entrance

690K

23.2%

27.8%

Toukley

$650K

23.2%

44.4%

Wamberal

$1.3M

30%

59.5%

 

Source: Domain House Price Report, September 2021
 
That makes it harder and harder for young people to buy a home on the Central Coast.
 
No wonder the number of first home buyers signing up for loans has dropped by 20 per cent since the beginning of the year.
 
Twenty years ago, the average home cost four times the average salary. Now, it’s almost twice that. 
 
It’s harder to buy than ever before, it’s harder to rent than ever before and there are more homeless Aussies than ever before.
 
After almost a decade in Government, housing affordability has only got worse under the Liberals.
 
Quotes Attributable to Doctor Gordon Reid, Labor’s Candidate for Roberson:

‘House prices in Robertson are skyrocketing.
 
‘That’s good if you own a home, but it’s making it harder for local first home buyers who want to buy a home here in the community they grew up in or work in. 
 
‘I asked Shadow Minister for Housing & Homelessness Jason Clare to come and see firsthand the impact this is having on our community.’
 
WEDNESDAY, 3 NOVEMBER 2021

MEDIA CONTACT: ARLEY BLACK 9790 2466