Sales Activity Exceeding $1 million dollars

1st Quater 2007 : 1st Quater 2008 : 1st Quater 2009

Post Code 2251 - Avoca Beach, Copacabana, MacMasters Beach

Post Code 2256  - Pearl Beach

Post Code 2257  - Booker Bay, Daleys Point, Killcare

Post Code 2260  - Forresters Beach, North Avoca, Terrigal

Post Code 2261  - Blue Bay, Magenta, North Entrance, The Entrance, Toowoon Bay

Residential Sales Data - Gosford City & Wyong Shire

As part of our ongoing market analysis our company carries out a review of residential sales data for specific suburbs within the Wyong Shire and Gosford City local Government area over quarterly periods.  The sales data for selected suburbs over the quarterly periods is then compared to the corresponding quarter from the previous year. The quarterly analysis is based upon total number of sales within a suburb, total value of sales within a suburb and median sale price for the suburb in that particular quarter. A tracking of these statistics analysed over the quarter for the previous year enables us to assess the change over a 12 month period. As new quarterly sales information becomes available for the relevant suburbs our residential sales data tables will be updated.

The residential sales data is based upon an analysis of residential sales only within the selected suburbs and specifically excludes inter-party/family transactions, strata unit sales, sales covering development sites and sales of rural/hobby farm properties.

Residential Sales Data – Gosford City 2009 (annual results)

Residential Sales Data – Wyong Shire 2009 (annual results)

Residential Sales Data – Gosford City 2008 (annual results)

Residential Sales Data – Wyong Shire 2008 (annual results)

Residential Sales Data – Gosford City 2007 (annual results)

Residential Sales Data – Wyong Shire 2007 (annual results)

Residential Sales Data – Gosford City 2006 (annual results)

Residential Sales Data – Wyong Shire 2006 (annual results)

Residential Sales Data – Gosford City 2005 - 2006 (annual results)

Residential Sales Data – Wyong Shire 2005 - 2006 (annual results)

Residential Sales Data – Gosford City 2004 (annual results)

• Six out of the seven listed suburbs decreased in the number of sales over the 12 month period of 2004.
• Four out of the seven listed suburbs decreased in median sale prices over the 12 month period.
• The statistics show a significant drop off in number of sales over the 12 month period.
• A softening of median sale prices is notable throughout the calendar year.
• A significant drop off in number of sales in strong trading suburbs such as Terrigal, Umina Beach, Wamberal and Wyoming is noticable.

Residential Sales Data – Wyong Shire 2004 (annual results)

• Six out of the seven listed suburbs dropped in the number of sales or stayed the same over the 12 month period.
• All selected suburbs either dropped or stayed the same in median value over the 12 month period.
• Most median sale prices decreased over the 12 month period which was reflective of the sluggish market throughout the calendar year 2004.
• Total number of sales is significantly down on the volumes achieved in the calendar year 2003.

Residential Sales Data – Gosford City 2003 (annual results)

• All suburbs increased in median value over the 12 month period (see note below regarding Terrigal's last quarter).
• Four out of the seven listed suburbs increased in the number of sales from the first quarter through to the third quarter of 2003.
• Five out of the seven listed suburbs decreased in the number of sales in the last quarter of 2003.
• A consistant strong level in number of sales is reported throughout the calendar year 2003.
• The poor median price figure recorded for Terrigal in the last quarter of 2003 is a reflection of a new residential estate which was released in Terrigal with a significant number of vacant land sales around $300,000 to $350,000 reported for this quarter.

Residential Sales Data – Wyong Shire 2003 (annual results)

• Five out of the seven listed suburbs increased in the number of sales from the first quarter through to the third   quarter 2003.
• Six out of the seven suburbs dropped in the number of sales over the last quarter 2003.  This supports our opinion that the market peaked in around September/October 2003.
• All median prices increased over the 12 month period.
• The number of sales dropped off in the last quarter of 2003 but still solid number of sales were reported right throughout this very strong year.

Residential Sales Data – Gosford City (First Quarter Comparisons 2004 - 2006)

An analysis of the total number of sales from the first quarter period of 2003 to the first quarter period of 2005 shows a downward trend ranging from almost no change up to a reduction in total number of sales of around 61%. Again, this negative trend reflects the very buoyant market in Gosford City throughout the first quarter of 2003 to the strong buyer's market evident as at first quarter 2005. An analysis of the median sale price of the corresponding quarters over the two year period shows a general upward trend in median sale price values generally ranging from around a 10% increase to an 18% increase over the two year period. Again, this increase in median sale price values would have occurred predominantly in the mid to latter quarters of the calendar year 2003.

Residential Sales Data – Wyong Shire (First Quarter Comparisons 2004 - 2006)

An analysis of the first quarter results from January - March 2003 to January - March 2005 shows a clear downward trend in the total number of sales over the corresponding quarters. The reduction in the number of sales ranges from -33% to -57% in total number of sales. This clearly demonstrates the very buoyant nature of the market in the first quarter of 2003 and the strong buyer's market evident as at the first quarter 2005. An analysis of median sale price figures over the same corresponding quarters shows an upward trend in median sale prices ranging from 3% through to a 38% increase. This rise in median sale price values has occurred over the two year period, the majority of which would have occurred over the mid to latter quarters of the calendar year 2003.

Residential Sales Data - Gosford City & Wyong Shire on a Quarterly Basis

A review of residential sales data for specific suburbs within the Central Coast by quarterly periods has been compiled for the following calendar years.

Statistics have been analysed for seven selected suburbs within both Wyong Shire and Gosford City with quarterly results showing total number of sales and median house prices for the selected suburbs.  The statistics represent residential sales only excluding strata unit sales, in-party/family transactions and sales covering development sites and rural/hobbary farm properties.

Residential Sales Data – Gosford City (First Quarter)

The above statistical information reveals a fairly consistent reduction in the number of sales recorded in the first quarter of 2004 as against the first quarter of 2003. Copacabana is the notable exception with a total number of 16 residential sales reported in this period. The recorded number of sales at 16 in 2003 is significantly less than the recorded volume of sales in other Gosford City suburbs. The increase in the median sale price of a residential property is consistent across the seven suburbs analysed with an average recorded sale price increase of approximately 19.5%.

Residential Sales Data – Gosford City (Second Quarter)

• Five out of the seven listed suburbs dropped substantially in the number of sales over the corresponding quarter of 2003.
• Six out of the seven listed suburbs increased in median sale prices over the corresponding period in 2003.
• The April - June quarter of 2003 was a strongly rising market with significant market increases still to come in the third and fourth quarters of 2003.
• The April - June quarter of 2004 was a slowing residential market as all sectors of the real estate cycle were coming to terms with the fact that the market boom had clearly ended.

Residential Sales Data – Gosford City (Third Quarter)

• Six out of the seven listed suburbs dropped substantially in the number of sales from the peak market figures set in the third quarter of 2003.
• Only four out of the seven listed suburbs increased in median sale prices from the peak levels set in the corresponding quarter of 2003.
• The third quarter of 2003 represented the strongest quarter of the rising market of 2003 as evidenced by median sale prices and total number of sales.  It is our opinion the Gosford residential market peaked around September/October 2003.

Residential Sales Data – Gosford City (Fourth Quarter)

• Five out of the seven listed suburbs decreased in number of sales from the strong levels set in the corresponding fourth quarter of 2003.
• Five out of the seven listed suburbs either remained static or decreased in median sale prices as compared to the fourth quarter of 2003.
• The fourth quarter of 2003 represented close to the peak of the residential market with the market boom coming to an end.
• The fourth quarter of 2004 represented a strong and sluggish residential market on the Central Coast.

Residential Sales Data – Wyong Shire (First Quarter)

The reduction in total number of sales for each suburb analysed above and the corresponding rise in average sale price is reasonably consistent across the suburbs as outlined. Bateau Bay is the notable exception where the volume of sales has actually increased and the average sale price has increased at a low level compared to the average recorded percentage increase. It is noted the 2004 sales records for Bateau Bay have been influenced by the recent release of a Mirvac Homes developed subdivision with a number of sales of vacant residential allotments within this estate recorded within the first three month period of 2004. The lower than average percentage increase recording for the Bateau Bay and Mardi suburbs would appear to be a reflection of the more highly valued status of these suburbs in the first quarter period of 2003. Bateau Bay is a recognised and popular seaside suburb that recorded a number of very strong residential sales in the East Bateau Bay locality throughout 2002 and 2003. Mardi is a modern residential subdivision developed close to the large Westfield Tuggerah Shopping Town Complex, Tuggerah Railway Station and the Tuggerah Super Centre. This residential suburb has been held in high regard for a number of years.

Residential Sales Data – Wyong Shire (Second Quarter)

• Number of sales dropped substantially in six out of seven suburbs from the very strong level set in the second quarter of 2003.
• Six out of the seven listed suburbs showed an increase in median sale price over the 12 month period.
• The April to June quarter of 2003 was a rising market with further significant growth in this market to follow in the third and fourth quarters of 2003.
• The April to June quarter of 2004 was a slowing period of the market with people generally coming to terms with the fact that the market had peaked in late 2003 and was now entering a period of decline and stagnation.

Residential Sales Data – Wyong Shire (Third Quarter)

• All suburbs dropped in number of sales from the peak of the market which was set in the third quarter of 2003.
• Five out of the seven suburbs increased by less than 10% over the 12 month period from the market peak of the  third quarter 2003.
• The third quarter of 2003 represented the peak market activity in terms of number of sales and median sale prices.  It is our opinion the market peaked in around September/October of 2003.
• The July - September period of 2004 continued to show decline in number of sales and sluggish market activity.

Residential Sales Data – Wyong Shire (Fourth Quarter)

• All suburbs dropped in number of sales by a substantial level from the strong levels set in the fourth quarter of 2003.
• Six out of the seven listed suburbs decreased in median sale price from the peak market levels set in late 2003.
• The large increase in number of sales shown by Hamlyn Terrace in the October - December quarter of 2004 was boosted by a substantial number of sales from Yeramba Estates to a number of project home builders.

Market Predictions for 2004

Central Coast property strengthened significantly in value throughout the year 2003 with value increases ranging generally from between 15% and 30%. During the same period house prices in Australia's largest cities also grew substantially, particularly in Sydney, Melbourne and Brisbane, however slowed towards the end of the year. Smaller cities such as Brisbane, Adelaide and Canberra have continued to strengthen in market value. It is our opinion that the Central Coast residential market remained strong throughout 2003, however demand did slow around mid October towards the end of the year. This coincided with considerable media talk surrounding interest rate increases.

As reported in the "Your Mortgage Magazine" housing affordability for first time home buyers fell to record low levels in 2003 despite a slow down in a number of properties sold at auction. At the end of the year 2003 first home buyers accounted for less than 14% of all new home loans. The sharp fall in home affordability is generally believed to be a result of increasing house prices combined with interest rate increases towards the end of the year 2003. Housing affordability is now lower than it was in 1989 when official interest rates were 17%.

It is common knowledge that demand from investors for property in the major capital cities had weakened significantly towards the end of 2003. This has resulted in many "off the plan" units and apartments in high rise buildings slowing significantly. It is even reported that prices are now heading backwards in some inner city areas of Sydney and Melbourne.

Most financial industry experts are tipping higher home loan rates in 2004. The majority of financial analysis's expect interest rates to climb throughout the year.

Early indications in 2004 indicate the Central Coast residential market remains strong, however increases in residential property prices are likely to level out with market movements more in keeping with inflation rates rather than the strong gains of the past year. It is our opinion that areas of the market likely to be hit hardest by downward market movements would be the unit markets within The Entrance and Gosford town centres.

We are of the opinion the residential real estate market on the Central Coast will remain high and more than likely will not retreat. Some unit prices in the expanding areas of The Entrance and the Gosford Central Business District may ease, however interest should remain steady. An over supply of units in both of these town centres may be an emerging issue in the year 2004.

For those people considering investing in the Central Coast real estate market, higher mortgage repayments should be expected as interest rate rises occur during the year and expectations are that house prices may slow but are not likely to go backwards.

Property is now a national Australian obsession and the Central Coast, being the dynamic market that it is, should remain strong throughout 2004.

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