This is a question we get asked a lot.
Firstly, you need to establish what your investment strategy is and know your ‘why’. Are you looking for something to buy and hold? Or do you want to manufacture equity and flip the property quickly?
If you are wanting to invest in a property on the Central Coast to buy and hold, then you really can’t make a wrong decision when it comes to what areas to invest in and the question – ‘What are the best suburbs to invest in on the Central Coast?’ starts making more sense. The standard growth pattern for properties is to double every 10 years and with working from home becoming more and more popular and common, people are looking to the Central Coast as a convenient place to live, making it an attractive area for investors and owner occupiers alike.
Want better than average growth? Aim to purchase in the Central Coast blue chip suburbs. The best suburbs to invest in the Central Coast include:
- Killcare
- MacMasters Beach
- Avoca Beach
- North Avoca
- Terrigal
- Wamberal
- Shelly Beach
- Toowoon Bay
- Blue Bay
When thinking about and deciding on which Central Coast suburbs are good to invest in, it’s also a smart idea to look at which areas have boomed and pick the ‘overflow’ suburbs that surround that area. There is a good chance these areas will be the next to boom as people who are wanting to move into that area are getting priced out and look for the next, most affordable option.
Want to know the biggest under performers of growth in the past year? These are the ten slowest percentage growth suburbs of the Central Coast over the last year:
- Tumbi Umbi
- Wyong
- Erina
- Lake Munmorah
- Lake Haven
- East Gosford
- Hamlyn Terrace
- Mannering Park
- Niagara Park
- Narara
- Point Clare
What are the best suburbs to invest in on the Central Coast?
If you are looking to invest on the Central Coast and make a quick profit through flipping, our first port of call would be a quick feasibility. Understand entry cost, holding cost, renovation cost, exit cost and a conservative estimate on sale price. This helps you know if your intended project is profitable before purchasing.
Secondly, know your target market for the sale of your project. Are you in an affordable or luxury market? Do you need high end or mid-range finishes? What is on trend in the area and selling well? Should you consider a study to accommodate new work from home arrangements? Are you targeting families or downsizers with your new floor plan?
To make more profit over time, you should consider the future development potential of a property.