By Craig Heppell Principal Ulverstone Real Estate
Since Mid to Late 2022, Central Coast has seen the release of numerous land sub-divisions – both small and large.
From singular separated building blocks to substantial subdivisions with scores of individual blocks, the number of land/building blocks for sale is heading toward 500 (if not more) in the coming months.
Prices range from the low $100,000’s to over $200,000 per block and ranging in size from 500sqm to over 1000sqm.
Whist this represents the opportunity for solid, manageable growth for the area, the uptake of this land is steady at best.
Just as the first of these residential land offerings were being released to the market, the price of construction materials began to rise, and rise, and rise…
The effect this had on the market was that building a new home went beyond the financial reach of the biggest target market segment – first home buyers.
However, anecdotal evidence indicates that local builders seem to have plenty on their plate – with some citing that they are filled with orders for the next 12-18 months.
Eventually all these blocks will be scooped up, but maybe not as quickly as some of the developers would have hoped for.
The property market, in general, is steady and smartly priced, well presented pre-existing homes are selling in around 30-50 days.
To learn more, tune into my radio segment, A Peek Inside, for an ‘Insider’s Look’ at the local property market every Thursday on 7AD/7BU at 11.20am with Lee Dixon.