The Central Coast and Hunter residential property market saw significant price increases across all sectors of the market in the years leading up to the end of 2017. This trend commenced in around June 2013 after a prolonged period of price weakness and stagnant growth. Market demand has generally eased over the past 12-18 months.
Major Banks change policies
Changes to investment property loan policies by the major banks and tightened lending criteria brought about by APRA and The Reserve Bank of Australia exacerbated the market slowdown together with the outcomes of the recent Royal Commission into the banking sector.
The current residential property market is considered to have changed classification from a “sellers market” to a steady “buyers market” at November 2019.
For further information, please contact Central Coast Property Advisory Services on (02) 4385 2644