Gosford Building Approvals

Source: New South Wales Department of Housing Rent and Sales Report - Hunter Valley Research Foundation

Wyong Building Approvals

Source: New South Wales Department of Housing Rent and Sales Report - Hunter Valley Research Foundation

Medium Weekly Rentals (Average 2007)

Source: New South Wales Department of Housing Rent and Sales Report -Hunter Valley Research Foundation

Residential Sale Prices – Average 2006 - 2007

Source: New South Wales Department of Housing Rent and Sales Report - Hunter Valley Research Foundation

Real Estate Institute Releases Market Data

The Real Estate Institute of Australia have recently released their June quarter median house price data. The price data indicates that price growth slowed over the June 2004 quarter but remained relatively strong between June 2003 and June 2004.

The quarterly results to June 2004 were recorded as follows:

On an annual basis median house prices rose between June 2003 and June 2004 in all major capital cities with the exception of Melbourne. Hobart recorded a massive 40% on an annual basis, Darwin 23.8% increase, Canberra an 18.5% increase, Brisbane 18.2% and Perth 14.4%. Adelaide recorded an increase of 13.6% and Sydney 11.8% during the year ending June 2004.

The Real Estate Institute has indicated that the slowing of activity during the June 2004 quarter is a result of lower investor activity generally as a result of low rental returns. The general slow down in house prices is considered orderly and a sign of a healthy real estate market with owner-occupiers and investors responding to changing demands and interest rate increases in the latter period of 2003.

Data Regarding Home Loans

Recent data released by the Australian Bureau of Statistics (ABS) support the widely held belief that interest rate rises in November and December of 2003 have had the desired effect of slowing the housing market. On a seasonally adjusted basis the latest data from the ABS shows there were $9,630 million worth of loans issued for owner occupied property (excluding alterations and additions) during the month of June 2004. This latest statistic shows a 2% fall from the corresponding value of loans issued during the month of May 2004.

ABS statistics also show that the total number of properties financed during June 2004 fell, on a seasonally adjusted basis, by 3.3%. This figure makes the number of properties financed 16.1% below the number financed during June 2003.

Additional ABS statistics show the total number of loans issued for the construction of new homes in June 2004 fell by 5.1% during the month and was 12.2% lower than the corresponding figure in June 2003.

Date: August 2004

Central Coast Region Overview

The region known as the Central Coast covers a land area of approximately 1,854km² made up of the City of Gosford approximately 1,028km² and the Wyong Shire of approximately 826km². The region is renowned for its attractive natural environment which includes expansive ocean beaches, large coastal lakes, lagoons and waterways, dense mountain forests in a variety of National Parks and densely treed valleys. The region has a wonderful client with temperature ranging from a mean minium of 5.3°C in July to a mean maximum of 27.4°C in January.

The ABS Census of population and housing conducted in 1996 showed the Central Coast population to be approximately 263,050 with 146,750 located in Gosford City and 116,300 living in Wyong Shire. Census figures between 1986 and 1995 showed the Central Coast population to have an annual growth rate of approximately 3.6% represented by 3.3% in Gosford City and 3.9% in Wyong Shire. The Central Coast growth rates compare most favourably with the NSW growth rate average of 1.4% for the same period.

Population predictions between 1991 and 2021 show the regional population of the Central Coast is predicted to increase by approximately 75,000 people with 50,000 of this figure being in Wyong Shire and 25,000 in Gosford City. These estimations would make Wyong Shire one of the highest population growth regions outside the Sydney Metropolitan area.