Central Coast's changing face attracts Sydney downsizers - would you retire here?
In Australia, NSW's Central Coast region’s natural beauty, improved transport access and shift to high-quality new housing are helping to attract downsizers from Sydney.
Downsizing.com.au spoke to a local agent to understand more about the region’s growing appeal.
Attractive lifestyle and transport access
Michelle Tucker, a Central Coast-based McGrath agent, says there are several drivers enticing downsizers to ‘The Coast’ (as locals prefer to call the region).
Ms Tucker said the picturesque Brisbane Waters and the region’s magnificent beaches are key attractors. “The lifestyle of the Central Coast has always been an attractive proposition for downsizers,” Ms Tucker said.
Ms Tucker also says transport access is also about to improve, with the North Connex roadway project close to completion. This project is expected to make the trip from the Central Coast to the centre of Sydney some 30 minutes faster.
“Downsizers want to stay connected to the city’s amenities, and this is particularly so for those originating from Sydney,” Ms Tucker explains.
“They want everything at their fingertips. They still want to go to shows in Sydney and meet their friend for lunch. They don’t want to give up their Sydney lifestyle.”
In addition, Central Coast residents have the choice of two major airports, Sydney’s Kingsford Smith and Newcastle Airport at Williamtown. It is also possible to take a train from Gosford to Central Station in 70 minutes.
Relative value for money
Ms Tucker says the downsizer market on the Central Coast is split between locals and those moving from Sydney.
“We recently sold a beautifully appointed penthouse with sweeping views of Brisbane Waters to downsizers from Killara, a northern Sydney suburb, for $1.6 million,” she says.
“To find an apartment like this on the North Shore with sweeping water views of say Middle Harbour or Sydney Harbour, you could expect to double and even triple the price.
“Not only has this couple bought into a fantastic lifestyle but downsizing to the Central Coast leaves money in the bank.”
However, Ms Tucker said that the Central Coast hasn’t always offered the housing product matching the region’s lifestyle delights.
“It’s only in the last few years we’ve seen an increase in brand new luxury apartments come onto the market,” she said.
Changing face of Gosford
With more residential towers in various stages of development in Gosford and Point Frederick, the local restaurant, café and bar scene is improving with a bullet.
“You come out of your apartment, and you’re on the waterfront, go to a restaurant or café in town. Gosford is starting to happen, and there are places to go,” Ms Tucker says.
In addition, both of the region's major hospitals are currently undergoing a major redevelopment.
Properties on the Central Coast
Ms Tucker is currently marketing the luxury Ravello residential apartment project, being developed by veteran media industry figure John Singleton at Point Frederick.
Located on the former site of the iconic Monti’s Ashore fish and chip shop, Ravello includes 40 apartments and has largely uninterrupted views over Brisbane Water.
The project will be completed in 2021 and includes one, two and three-bedroom apartments, and three penthouses.
There is only a limited number of one-bedroom apartments available from $460,000, while two-bedroom apartments begin at $830,000.
“Central Coast downsizers love large apartments with big terraces as they still want space for the Christmas lunch and in this respect, developments such as Ravello tick these boxes,” Ms Tucker says.
Another new Central Coast project currently on offer is Retire Australia’s Rise at Wood Glen project at Erina.
The Rise at Wood Glen will comprise 58 purpose-built two and three-bedroom independent living apartments against a backdrop of award-winning gardens and bushland views in the existing Wood Glen retirement living community.
Independent living apartments in Stage 1 range from $650,000 to $1,050,000.
The Central Coast also continues to offer more affordable property in existing retirement villages and land lease communities.
Republished with permission of Downsizing.com.au.