CENTRAL COAST
Property Investor
DECEMBER 2023
Central Coast Real Estate since 1924
Central Coast Property Investor
Welcome to Central Coast Property Investor by McLachlan Partners Welcome to all of our valued property investor clients to the December 2023 edition of Central Coast Property Investor, giving you a fresh and insightful update on the local market, as well as investment opportunities, sales market analyses, community insights and more. Our team at McLachlan Partners have their fingers firmly on the pulse of property trends and market shifts, and are excited to share these insights with you every month. On behalf of the team at McLachlan Partners, we wish you a happy and safe Christmas and New year. We’re looking forward to helping you with all of your property needs including sales and property management in 2024. Profit from our experience.
HEAD OF PROPERTY MANAGEMENT McLachlan Partners
Looking to lease your property or change property manager? Scan the QR code, fill in your details and our team will be in touch.
Considering a sale? Scan the QR code to contact our sales team for an up-to-date market appraisal.
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December 2023
Central Coast Property Investor
November 2023
Contents 01
03
WELCOME
PROPERTY OF THE MONTH
05
07
RENTAL MARKET UPDATE
LEASED THIS MONTH
08
09
NEW CLIENT OFFER
EAT, SHOP & PLAY
10
11
NOVEMBER MARKET STATISTICS
OFF THE PLAN OPPORTUNITIES
13 COMMERCIAL INVESTMENT OPPORTUNITY Page.02
Central Coast Property Investor
Investment Property of the Month Gorgeously Renovated Single Level Home Page.03
December 2023
Central Coast Property Investor
December 2023
East Side Location 48 Stella Street, Long Jetty
2 Bed | 1 Bath | 1 Car | Current Rental: $750 per week Price Guide: $1,300,000 - $1,400,000 • Brand new, ready-to-move-in home or maintain the current lease effortlessly. • Features light, airy open living with timber floors. A stunning kitchen at its heart, ideal for entertaining, opens to an undercover deck for seamless indoor/outdoor living. • The outdoor area boasts a level, private yard with potential for extensions or a pool. A detached garage offers possibilities for a workshop or home office. • Luxurious family bathroom with a freestanding bath and chic finishes. • Spacious bedrooms with built-ins, Plantation shutters, and modern comforts. • On a 677m2 lot with a 15.8m frontage, close to Toowoon Bay Beach and Long Jetty’s cafes.
Hiking
• Currently leased at $750pw, this property is an excellent investment or a turnkey home.
Brent Speechley 0412 467 796 brent@mclachlanpartners.com.au
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Central Coast Property Investor
December 2023
Rental Market Update With Jordan Atkins Head of Property Management The Current State of the Market
Price movements have been relatively stable
The rental landscape is experiencing interesting
compared to last year, with tenants in the
shifts. The average asking rent has climbed to
Central Coast area reaching what seems to be
$606 per week, coupled with a tight vacancy rate
their financial limit for rental affordability. The
of
a
2021 Census reported the median household
challenging scenario in terms of affordability
just
1.1%.
These
figures
highlight
income at $1,507 per week, which means on
and availability for tenants. However, from an
average, around 40% of income is now going
investor’s perspective, these are signs of a
towards
robust rental demand.
recommended 33%.
Despite the challenges, the market presents
The McLachlan Partners Advantage
intriguing opportunities. The average gross
In this landscape of high demand and limited
rental yield for houses is currently around 2.5%,
supply, the shortage of rentals and low vacancy
a dip from the over 4% yields seen in past years.
rate
However, the scene is different for units, which
applications, many eager to settle before the
are offering an attractive yield of approximately
new year. Our property management team, with
4.1%. For those contemplating investment, units
an impressive arrears rate of just 0.2% over 7
might just be your golden ticket.
days, stands testament to our proactive tenancy
rent
ensures
-
a
a
bit
steady
higher
flow
than
of
the
suitable
management and arrears policies. Market Trends and Implications A noticeable trend is the reduction in the
Our
number of rentals on the market - a drop from
experienced in the art of leasing properties
over 1,000 in July to about 700 currently.
faster and more efficiently. We leverage the
Concurrently,
are
witnessing
at
McLachlan
Partners
are
more
latest technology, top-tier advertising, and a
investment properties being listed for sale,
proactive approach to find the perfect tenant for
fetching impressive prices. This, however, is
your property. Our goal is to make your
leading to a decrease in rental properties
investment journey as seamless and profitable
available, intensifying the demand.
as possible.
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we
team
Central Coast Property Investor
Looking Ahead As we navigate these changing tides, the
December 2023
JUST LEASED
opportunity for savvy investors is evident. Whether you’re considering buying a unit for its higher yield potential or looking to capitalize on the strong demand for rentals, McLachlan Partners is here to guide you every step of the way. Let’s work together to turn these market and let’s explore how your investment can thrive
5/126 Swadling Street Toowoon Bay
in today’s rental market.
2 Bed | 2 Bath | 1 Car
Until next time, stay informed, stay invested,
$520 per week
dynamics into opportunities. Reach out to us,
and let McLachlan Partners be your guide in the Central Coast property market. *Sources: SQM Research CoreLogic RP Data
"In a market of tight supply and strong demand, each property holds unique potential. At
McLachlan
Partners,
we're
dedicated to unlocking this potential, ensuring your investment thrives” ARRANGE A RENTAL APPRAISAL WITH OUR TEAM TODAY
Jordan Atkins Department Head 02 4332 1155
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Central Coast Property Investor
December 2023
Leased Last Month
127 Rotherham Street, Bateau Bay $560 per week
5 Elsiemer Street, Long Jetty $630 per week
80 Hume Blvd, Killarney Vale $580 per week
2/32 Gordon Road, Long Jetty $675 per week
25 Castlereagh Cres, Bateau Bay $630 per week
12a George Evans Rd, Killarney Vale $460 per week
5/126 Swadling St, Toowoon Bay $520 per week
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Central Coast Property Investor
December 2023
New Client Offer Complimentary 360° Virtual Tour
To obtain the best tenant in the fastest possible time, McLachlan Partners are currently providing this cutting-edge service complimentary for all new rental listings, valued at over $300. Let's elevate your property's presentation together. Get in touch with our team today. What is a 360° Virtual Tour? It's a digital walkthrough of your property, allowing potential tenants to navigate through the space, getting a firsthand look, all from the comfort of their device. Think of it as Google Street View, but for the inside of the property. Benefits of a 360° Virtual Tour Wider Reach: Engage potential tenants globally, at any time. Higher Engagement: Listings with 360° tours have 497% more engagement than listings with videos. Safety & Convenience: Fewer physical viewings mean less disruption. Pre-Qualify Prospects: Attract serious potential tenants. Most importantly, reduce time on market by up to 31% - Lease faster with better quality tenants. Try It Out! Scan the QR code to experience a sample tour.
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Central Coast Property Investor
December 2023
01 Mr Sha Sha’s 1&2/308 The Entrance Rd, Long Jetty Our Take: Sha’s Brekky Roll is one of the biggest and best brunch burgers you will find!
Eat, Shop & Play This month’s picks
02 Shadow Bang Apothecary & Supply 310B The Entrance Rd, Long Jetty Our Take: A beautiful selection of ethical
03
Australian clothing and gifts - Our favourite is the AMAZING selection of awesome sunglasses!
The Coast Walking Track Enjoy scenic views and wildflowers along The Coast walking track near Bateau Bay. There are multiple locations to start your walk, and there are excellent spots for whale watching along this easy pathway in Wyrrabalong National Park.
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Central Coast Property Investor
December 2023
Market Update 2261 Statistics: A 30-Day Review
In the dynamic world of real estate, understanding market trends is crucial for investors. The recent statistics from the 2261 postcode offer a fascinating insight into the local housing market's performance over the last 30 days. Let's delve into these figures to gauge what they mean for local investors. 1. New Sale Listings In the past month, the area saw 137 new sale listings, marking a 9.27% decrease compared to November. This drop could indicate a tightening market, where fewer properties are being put up for sale, but this is to be expected towards the end of the year. For investors, this could mean less choice, but potentially more competition and higher prices. 2. Average Days on Market Properties are now spending an average of 74.78 days on the market, up 23.66% from last month. Several factors could contribute to this trend, such as pricing strategies or interest rate challenges. Investors might find this an opportune time to negotiate better deals, as sellers might be more willing to reduce prices the longer their property stays on the market.
3. Property Sales There were 81 property sales in the last 30 days, down 8.99% from the prior period. This decline in sales could be due to a variety of factors, including economic uncertainty or changing buyer preferences. Investors should be cautious and conduct thorough market research to identify properties that are likely to maintain their value or appreciate. 5. Average Vendor Discount and Asking Price The average vendor discount in the area is currently -1.1%, potentially reflecting seller confidence in achieving their asking prices. The average asking price for combined houses and units is $967,000, which provides a benchmark for investors in terms of market expectations and investment thresholds.
The 2261 postcode's housing market is showing signs of a cooling phase, with fewer sales and listings and properties staying on the market longer. For savvy investors, this could be a period ripe with opportunities for negotiating better deals, especially if they are prepared to act quickly and decisively. As always, careful analysis and a clear understanding of individual investment goals are key to making informed decisions in this evolving market landscape. *Source CoreLogic RP Data
ARRANGE A MARKET APPRAISAL WITH OUR TEAM TODAY
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Central Coast Property Investor
December 2023
This is your chance to acquire a seachange lifestyle without the absolute beachfront price tag. Each apartment takes full advantage of vistas and light in a low maintenance, low fees, sleek design. Each apartment takes full advantage of vistas and light in a low maintenance, low fees, sleek design. Nearing completion. Do not miss this opportunity of what will be a landmark development to The Central Coast. Prices starting from $995,000. Contact: Bruce McLachlan 0410 510 234
Project Marketing Off the plan opportunities Page.11
Central Coast Property Investor
December 2023
Our projects division have a number of opportunities to acquire off the plan with settlements due in 2024 and 2025.
“Elysian” a new quality architect designed building in blue chip position, nestled between The Entrance Ocean beaches and Tuggerah Lakes Channel Entrance, offers astute investors an opportunity to purchase off plan, a quality coastal retreat property, well under Sydney or Terrigal prices, only 1 ½ hours from Sydney's CBD. offering true value in today’s market for investors, with strong demand for both permanent and holiday rentals. Construction commenced with expected completion Q1 2025. Prices starting from $599,000. Contact: Jayden Laugwitz 0422 191 275
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Central Coast Property Investor
Rare Opportunity 2 Shops & 1 Unit in Iconic Shopping Precinct
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December 2023
Central Coast Property Investor
December 2023
East Bateau Investment 101 Bateau Bay Road, Bateau Bay
Potential Rental Income: Approx. $68,000 per annum AUCTION 16th December | Bidder’s Guide $1.3m This property is not just a rare offering, but a gateway to significant investment potential in a highly sought-after location. Known for its iconic shopping precinct, the property sits just one block from
Hiking
the serene Bateau Bay Beach and Wyrrabalong National Park, and directly across from Sutton Reserve. Offering two leased commercial shops and a 2-bedroom apartment above. With potential income of over $68,000 per year and approval for Strata Subdivision, it's an ideal addition for SelfManaged Superannuation Fund investors. Michael Walker 0421 081 716 michael@mclachlanpartners.com.au
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Central Coast Property Investor
Our family agency is the longest serving agency on the Central Coast. Originally founded in 1924 by Clyde & Doug McLachlan after returning from the trenches in France in WW1. They quickly gained a reputation for honest dealings with clients. That reputation has been carried on in our agency today and is the hallmark foundations on what we have built our business on for the last 99 years. The key difference of McLachlan Partners is our team. We have the most experienced, trustworthy and reliable team of Agents and Property Managers on the Central Coast. We would be more than happy to help you with all of your property needs. Bruce McLachlan Principal
453 The Entrance, Road Long Jetty NSW 2261 86 Toowoon Bay Road, Toowoon Bay NSW 2261
02 4332 1155
mclachlanpartners.com.au
property@mclachlanpartners.com.au
December 2023