Local buyers preparing to downsize their property and remain on the Central Coast are snapping up more new apartments compared to international investors.
Chair of Urban Development Institute of Australia (UDIA) Central Coast Chapter, Caine King, believes the level of interest from local and Sydney-based investors, not necessarily overseas buyers, has not only been surprising but has directly influenced property sales during the past 12 months.
“People are now planning for their retirement years early and those living and working in the region, who recognise the great location and convenience it offers, don’t want to miss out,”
Mr King said. Mr King, who is also Director of CKDS Architecture, is a key speaker at the Future Vision for Development on the Central Coast seminar at Mingara on 20 July. ADW Johnson town planner and Deputy Chairperson of UDIA Central Coast chapter, Chris Smith, will also be presenting.
It’s the second year the seminar has been organised by Aubrey Brown Lawyers to provide a local forum on current and future development, with last year’s event attracting 140 people.
Mr King says the current level of building activity across the region represents the realisation of projects that have been years in the planning and approval phase.
“Under the Central Coast Regional Plan there’s a 20-year blueprint for our future. The challenge is for designers, developers and council to work out how best they will respond to achieve sustainable urban solutions,” Mr King said.“With more and more significant developments underway, it’s important to understand the right type of buildings and supportive facilities that are needed,’ Mr King said.
The seminar from 9.30am – 1.30pm at Mingara Recreational Club will also address growth hotspots including Gosford, Terrigal, Tuggerah, Warnervale and Toukley.
“It’s a great opportunity to keep people informed and in touch about how our region is developing now and beyond,” Mr King said.