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Properties on the New South Wales Central Coast are proving an affordable alternative and attractive investment choice for Sydney-siders, according to one real estate group.
Richardson & Wrench (R&W) Umina principal Phil McCord said his new office filled an important gap in a growing market.
“I believe the peninsula area is on the brink of taking off,” he said.
“Up to 70 per cent of buyers are coming from Sydney, where many people are priced out of the market. Good properties at the lower end are selling strongly and for investors, returning solid rentals.
“The better quality prestige waterfronts that have been well renovated and priced correctly are also finding ready buyers.”