An analysis by the Australian National University academics Ben Philips and Cukkoo Joseph has identified Wyong on the Central Coast as the most undersupplied housing location in NSW and the second most under-supplied housing area in Australia. The modelling drew on census population figures to estimate the underlying demand for housing at the regional level. Of the 328 statistical areas studied nationwide, 250 were found to have a housing surplus while 78 had a shortage. The paper looked at population growth and demographic change in Australia’s 328 regions called “statistical area level 3” by the Bureau of Statistics and analysed how well the new supply of housing meets the demand in those areas. This research represents Australia’s first published regional analysis of housing demand and supply the report said.
The median house price in Sydney is over a million at $1,032,820 (Residex Mar 2017), and according to Domain there are no suburbs in Sydney where you can buy a house under $500,000. So where should you be investing? The Central Coast is on key location to be right now, and the ANU report identified that the largest undersupply in NSW is in Wyong Shire on the Central Coast. Silverhall’s research identified this area as a growth location three years ago. Government investment in infrastructure like the M1 widening from 2 to 3 lanes each side. NorthConnex which links the M1 to M2 and M7; investment in upgrading Pacific Highway highlights the opportunity for capital growth that is available on the Central Coast.
There are also numerous employment opportunities that are driving population growth into the area namely Wyong Employment Zone, Tuggerah Business Park, NSW Government’s train maintenance facility, Wyong and Gosford Hospital Upgrade, development of the Wyong Private Hospital and significant relocation of the ATO staff to the Central Coast are just some examples of places that are going to create 24,000 jobs (Ref: NSW Govt’s Regional Development Plan 2036). Two-thirds of which are going to be implemented between Warnervale and Tuggerah. These jobs are right in the middle of the Wyong Shire area that the ANU report highlights as the area having the highest housing undersupply in NSW. With an expected population grow of 75,000 by 2036 (Ref: NSW Govt’s Regional Development Plan 2036), this would include Sydneysiders choosing houses on the Central Coast over unaffordable Sydney suburbs.
Now is the right time to make a move and buy investment properties that are not only $400,000 lower than the median Sydney house price but are well positioned to have strong capital growth in the future. Want to know more about investment properties on the Central Coast that Silverhall’s research has found to have the next Sydney-esque boom call us on 1300 66 77 24 or email us at This email address is being protected from spambots. You need JavaScript enabled to view it.