Mixed fortunes with property prices

House prices on the Peninsula have had mixed fortunes over the last six months, with Blackwall and Ettalong showing better returns than other suburbs.

Ettalong and Umina have the higher median house prices, which remain above the regional figure.

Median house prices in Blackwall have seen an 11 per cent rise since July last year, and a 10-year average increase of 10 per cent a year, according to Australian Property Monitors.

Last July, the average house selling price in Blackwall was $315,000 compared to $350,000 in January.

Ettalong Beach had a two per cent increase in its median house prices from $328,000 to $335,000.

However, the median price of housing in Umina dropped by four per cent to $328,000.

This was in line with the Central Coast as a whole, which dropped four per cent to $325,000.

Woy Woy also saw a decline in median house prices of eight per cent or $26,000 to $304,000.

Over the last 10 years, Umina has seen an average increase of 6.9 per cent a year, while Woy Woy has averaged 5.4 per cent, compared to a regional average of 6.9 per cent.

Unit sales in both suburbs over the past 10 years have averaged around 6.9 per cent, outperforming the regional average of 5.3 per cent.

Figures can be seen at www.homepriceguide.com.au.

Website, 27 Feb 2009 Australian Property Monitors