Property prices lead the Coast

Property prices on the Peninsula are increasing at almost double the rate of the rest of the Central Coast.

Real estate agent Mr Frank Serra of Century 21 Umina has released figures showing house prices to have increased by 21 per cent in the Umina-Ettalong area in the past year, compared to a Central Coast average of 11 per cent.

Unit prices in the same area have increased by 24 per cent compared to a Central Coast average of 14 per cent.

The average house price in the Umina-Ettalong area was $278,000, while in Woy Woy it was $268,000.

The statistics were compiled by Australian Property Monitors for the 2256 and 2257 postcode areas.

According to Mr Serra, the average first home buyer's choice on the Peninsula was a 90-100 square metre fibro home on a 520 square metre block for around $200,000.

"The average home loan would be around $160,000," he said.

The statistics showed Peninsula property prices to be significantly higher than the average price of a house on the Central Coast as a whole.

The average price of a house on the Central Coast was $220,000.

Median house prices were $230,000 for the 2257 postcode area, $225,000 for the 2256 area and $199,000 for the Central Coast.

Peninsula prices have shown a greater increase than the Central Coast over the past year.

The 2257 area average price has increased by 21 per cent, while the 2256 area has increased by 17 per cent, while Central Coast increase was 11 per cent.

The average price of units in these areas shows a similar pattern.

The average price of a unit in the 2257 area was $247,000, while the average in the 2256 area was $214,000.

The Central Coast average unit price was $212,000.

The median price for these areas is $253,000, $206,000 and $193,000 respectively.

Unit prices have increased in the past year in the 2257 area by 25 per cent, in the 2256 area by 16 per cent and the Central Coast generally by 14 per cent.

Century 21 Umina Bulletin, June 7