CENTRAL COAST
Property Investor
FEBRUARY 2024
Central Coast Property Investor
Welcome to Central Coast Property Investor by McLachlan Partners Welcome to the February 2024 edition of Central Coast Property Investor. Our activity in January indicates that it’s going to be a busy year... This month, our lead Sales Agent and Associate Director Brent Speechley will be wrapping up the 2023 market activity, and we have a fantastic investment opportunity in a popular Killarney Vale location. Our team is always ready to assist with any enquiries regarding sales or property management. Feel free to contact us at 4332 1155, visit our Long Jetty office, or simply scan the QR code below for more information. 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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February 2024
Central Coast Property Investor
February 2024
Contents 01
03
WELCOME
PROPERTY OF THE MONTH
05
06
RENTAL MARKET UPDATE
LEASED THIS MONTH
07
09
2023 MARKET WRAP
NEW CLIENT OFFER
10
11
LANDLORD’S INSURANCE
CAMPAIGN AGENT PARTNERSHIP
12
13
EAT, SHOP & PLAY
OFF THE PLAN OPPORTNITIES
(E&OE) Please note that all information herein is gathered from sources we, McLachlan Partners believe to be reliable. Computer images, photos, plans, drawings, maps etc are indicative only. McLachlan Partners cannot guarantee its accuracy and any interested person/s should rely on their own enquiries.
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Central Coast Property Investor
February 2024
Investment Property of the Month Completely Renovated Torrens Title Townhouse
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Central Coast Property Investor
February 2024
Picture Perfect Investment 51 Flinders Avenue, Killarney Vale
3 Bed | 2.5 Bath | 1 Car | Rental: $650 - $700 per week • Beautifully renovated Torrens title duplex - NO strata fees! • Be impressed by the modern living areas, large bedrooms and sophisticated kitchen. • Great opportunity to secure a property that is ready for rental, no work needed. • Approx 5 minutes drive to schools, shops and beaches, 15 minutes drive to M1 Freeway access. • Inspections now available - Contact our sales team.
Jayden Laugwitz 0422 191 275 jayden@mclachlanpartners.com.au
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Central Coast Property Investor
February 2024
Rental Market Update As we say goodbye to the first month of 2024 (already!), our local rental market has presented an array of promising opportunities for property investors. We're excited to share a snapshot of this month's market dynamics, emphasizing the robust interest in rental properties and the advantages of partnering with a proactive agency like ours. Rental Market at a Glance In January our agency received over 200 enquiries from tenants looking for a property, coupled with a good number of rental applications, amounting to 58. These figures not only reflect the high demand for rental properties in the area but also underscore the effectiveness of our marketing strategies and our commitment to connecting property owners with potential tenants. The Current State of Play The median rent in the 2261 postcode stands at $576, indicating a healthy and profitable investment environment. Despite a diverse range of 81 properties currently on the market, only 34 are priced under $500 per week, suggesting a good return on investment.
The Key to Attracting Quality Tenants To ensure you receive the best possible rent, it's crucial to present your property attractively. Our experience shows that properties which are professionally cleaned, freshly painted or carpeted, and equipped with air conditioning, not only lease rapidly but also command top dollar. Such well-maintained homes stand out in the market, attracting quality tenants and ensuring a fruitful investment journey. The Advantage of McLachlan Partners Our extensive database of eager clients and a multitude of applications is a testament to our unmatched ability to fill and lease properties swiftly and at optimal rents, and this is demonstrated with our current 0% vacancy rate. Now is indeed the most opportune time for property owners to capitalise on this highdemand market. The January rental market on the Central Coast has laid a promising foundation for the year ahead. With McLachlan Partners, investors have a unique opportunity to leverage this momentum, ensuring their properties are not only leased efficiently but also at the best possible rates. Our team is dedicated to guiding you through every step, ensuring your investment reaps the benefits of this vibrant market. Looking to lease your property or change property manager? Scan the QR code, fill in your details and our team will be in touch.
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Central Coast Property Investor
February 2024
Leased Last Month
Flat/101 Pacific St, Bateau Bay 2 Bed | 1 Bath | 1 Car $500 per week
19 Belford Ave, Bateau Bay 3 Bed | 2 Bath | 4 Car $680 per week
6 Moorah Ave, Blue Bay 4 Bed | 1 Bath $530 per week
5/105 Ocean Pde, Blue Bay 2 Bed | 1 Bath | 1 Car $540 per week
18 South St, Killarney Vale 2 Bed | 2 Bath | 1 Car $480 per week
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Central Coast Property Investor
February 2024
2023 Market Wrap With Brent Speechley
Firstly, Happy New Year! I hope 2024 brings you
As we re-open the doors after the Christmas
and your family health, happiness and good
break for 2024 and recap on 2023, it is always
fortune. We are extremely excited for this year
important to study the real data available to us
as we are looking forward to celebrating a huge
and as our valued client we are always wanting
milestone in 2024 as it is our Centenary, 100th
to share our insight and knowledge with you.
year in business. Still proud to say that we are a family run, completely independent agency
Despite a turbulent year of consecutive interest
that still after 100 years is the most trusted
rate rises, inflation and usual media hype there
name in our wonderful part of the Central
were still 1031 residential sales in our postcode
Coast.
2261 suburbs which is only a change of around 3% turnover comparing to the previous year.
A few things have changed since the humble beginnings back in 1924 as we were seen as the
2023: 1031 Residential Sales
most advanced real estate office offering
2022: 1064 Residential Sales
inspections by motorised car to now having the
2021: 1474 Residential Sales
most cutting edge and technologically advanced
2020: 1087 Residential Sales
systems that give our customers the best
2019: 876 Residential Sales
possible experience and results.
2018: 768 Residential Sales
Stay tuned for our celebration announcements
A clear indicator is the number of homes we are
and event for the year…
selling to Sydney buyers relocating to the Coast. This is allowing local owners to affordably upsize as building costs for renovation/extensions are outweighing the cost of buying bigger properties or moving closer to the beaches etc. One of the driving factors is the affordability in comparison to Sydney’s market; a Sydney buyer is still selling for way more than what they are buying for up here and whilst this still continues our local market will continue to show buoyancy.
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Central Coast Property Investor
Interest Rates and Market Corrections Considering the amount and frequency of
February 2024
JUST SOLD
interest rate rises last year the Coast held its own well in maintaining the escalated prices. Of course the market needed to correct itself however the speculation of huge falls in property prices and lowering demand never really came. We are still seeing the lowest amount of available property on the market which is keeping upward pressure on pricing and in most markets still more in the sellers favour with still low times on the market and strong sale prices. Should you be thinking of making a move this year let us know, we would love to be able to catch up and discuss the current demand cycles in your area…
16 Swadling Street Long Jetty $1,200,000 • 26 days on market • 133 enquiries • 16 inspections • 4,210 views on realestate.com.au
Brent Speechley L.R.E.A | Associate Director
0412 467 796 brent@mclachlanpartners.com.au
Considering a sale? Scan the QR code to contact us for an updated market appraisal.
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Central Coast Property Investor
February 2024
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
February 2024
Landlord’s Insurance Have you got yours?
Investing in real estate is a significant financial commitment, and protecting this investment is crucial. Landlord's insurance plays a vital role in safeguarding property owners against various unforeseen events that could impact their rental income and property condition. Here’s a quick breakdown of what Landlord Insurance providers can offer and why it's essential for every property investor. 1. Loss of Rental Income One of the primary concerns for landlords is the potential loss of rental income. Landlord's insurance provides a safety net for scenarios such as a defaulting tenant. 2. Contents Insurance Protects those furnishings you forget, like curtains, carpets, blinds and light fittings. 3. Building Insurance Beyond contents, the physical structure of the property needs protection, especially against: Tenant Damage: Covers damages caused by tenants, their family, or guests. Pet Damage: Offers coverage for damages caused by tenants' pets. Scorching: Protects against damage from heat sources without flames.
4. Additional Benefits Legal expenses, sheriff fees, replacement of locks & more Landlord's insurance is not just an optional extra; it’s a fundamental component of responsible property management. By covering a wide range of potential risks, from damage and disasters to loss of income, it provides landlords with the assurance that their investment is secure. For anyone in the property rental business, understanding and investing in a comprehensive Landlord's insurance policy is a step towards ensuring long-term success and stability in the real estate market.
Visit Terri Scheer for more information on their Landlord Insurance Policy.
(E&OE) Please note that all information, herein is gathered from sources we, McLachlan Partners believe to be reliable. McLachlan Partners cannot guarantee its accuracy and any interested person/s should rely on their own enquiries.
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Central Coast Property Investor
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February 2024
Central Coast Property Investor
February 2024
01 Long Jetty Charcoal Chicken 417 The Entrance Rd, Long Jetty Our Take: Pretty much everything on the menu is mouthwatering, but the schnitzel wrap is next level!
Eat, Shop & Play This month’s picks
02 The Bang Threads + Espresso 324 The Entrance Road, Long Jetty Our
Take:
Housing
Mens/Women
Streetwear, Self Care, Homewares, Treats and Coffee in Long Jetty. Grab a coffee
03
while trying on some really cool brands!
Crackneck Lookout You'll be surrounded by panoramic views of Shelly Beach, which continue along the Central Coast past Norah Head, Tuggerah Lake and The Entrance.
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Central Coast Property Investor
February 2024
Project Marketing Off the plan opportunities This is your chance to acquire a seachange lifestyle without the absolute beachfront price tag. Designed by well renowned architects - White + Dickson 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
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Central Coast Property Investor
Our projects division have a number of opportunities to acquire off the plan with settlements due in 2024 and 2025.
February 2024
“Elysian” a new quality architect designed building in blue chip position, nestled between The Entrance Ocean beaches and Channel, 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
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
February 2024