10 of the Central Coast’s most expensive streets

With the Central Coast property market on fire we take a look at 10 of the region’s most expensive streets, where if you have to ask `how much?’ you probably can’t afford to live there.

The top end of the Central Coast’s property market is leading the charge in terms of capital gain according to CoreLogic data, with the region’s housing values recording the third highest growth rate across the country of 32 per cent.

The coast’s growing house prices in the 12 months to September were only eclipsed by the northern Beaches at 37.2 per cent and the southern highlands/Shoalhaven region at 32.2 per cent.

CoreLogic’s research director Tim Lawless said the 75th percentile across the Central Coast, which represents the entry point to the most expensive quarter of the market, was $1.136 million.

CoreLogic research director Tim Lawless said the high end of the coast’s property market was leading the increase in house prices.

Unsurprisingly, he said the 75th percentile for a house at $1.195 million was substantially higher than the 75th percentile for an apartment at $784k.

However the coast’s high end property market remains a lot cheaper than Sydney.

Mr Lawless said the entry point to the top 10 per cent of coast’s housing market was $1.559 million, which was about $3 million lower than the Greater Sydney average.

McGrath Terrigal sales agent Jordan Bulmer said beachside suburbs always performed well and were pretty similar in price but for some reason North Avoca had exploded recently.

He said two ageing properties, which would be knocked down and rebuilt, had sold recently for $8.1 million each — millions above a typical knock down block of land — while another old cottage had sold for $4 million.

Real estate agent Bruce McLachlan

On the unit front, coast real estate stalwart Bruce McLachlan, of McLachlan Partners, said the confidence in Gosford had spread to Terrigal, which had in turn spread to The Entrance where people could get the same high end apartment at a much cheaper price.

Mr McLachlan said another interesting trend was the number of owner-occupiers purchasing units rather than investors or cashed-up Sydneysiders looking for a holiday home.

Here’s 10 of the coast’s most expensive streets (in no particular order):

PACIFIC ST, WAMBERAL

The tiny dead-end offshoot of Ocean View Parade at Wamberal is one of the most sought after addresses on the coast.

Number 17 Pacific St sold in 2014 for $3 million followed by number 13 Pacific St for $3.75 million in 2015.

5 Pacific St, Wamberal, set a record when it sold in 2016 for $7.1 million.

Number 5 Pacific St set a record for the coast when a Sydney businessman paid $7.1 million in September 2016, while the most recent house to go under the hammer at number 12 – across the road from the beachfront properties – went for $3.6 million last month.

A stones’ throw away on Ocean View Drive, Wamberal, a sprawling lagoon-front mansion at number 12 with its own tennis court, pool and four car garage, went for $6 million in March.

A house on nearby Ocean View Drive, Wamberal sold for $6 million.

And despite the erosion issues plaguing many beachfront homes on Ocean View Drive an older style brick home at 23B, with a pre-approved development application for a knockdown rebuild, was on the market for just five days when it was purchased in January for $4.1 million.

Down the road, number 122 sold for $4.2 million in February, number 81 sold for $5.25 million in March, while number 95 sold for $7 million a decade ago in 2011.

81 Ocean View Drive, Wamberal, sold for $5.25 million in March.

WERRINA PDE, BLUE BAY

The crown address in the beachside suburb of Blue Bay has seen prices soar in recent years.

Number 2 sold in 2015 for $3.5 million, number 12 sold for $3.26 million in 2017 while number 10 fetched $4.2 million in September last year.

10 Werrina Pde, Blue Bay, sold for $4.2 million.

Number 23 sold for $3.4 million in August last year, while number 28 sold for $5.76 million in June of this year along with 34A which went for $4 million in the same month. 46B sold for $3 million in January 2021.

AVOCA DRIVE, AVOCA BEACH

With its beautiful location and village like atmosphere, Avoca has always been hot property with beachfront properties on Avoca Drive going for more than $4 million since number 93 sold for $4.35 million in February 2011.

133 Avoca Drive, Avoca Beach, sold for $7 million earlier this year.

Absolute beachfront properties don’t come up all that often but when they do buyers are prepared to pay top dollar. Earlier this year number 133 sold for $7 million while 111 sold for $4.95 million in February 2017.

A few months after that number 125 sold for $4.7 million.

More recently a house up the hill and back a bit from the beach at number 66 sold for $2.8 million in May.

Stunning views. This Avoca Drive house sold for $4.95 million.

NORTH AVOCA PARADE, NORTH AVOCA

There has been a bit more movement at North Avoca recently, which has driven prices skywards.

In July a veritable beach shack at number 10 North Avoca Parade sold for a staggering $8.1 million, while the house at number 32 sold in April for $7.9 million.

This knock down rebuild property on North Avoca Parade sold for $8.1 million.

In 2017 the house at number 26 sold for $4.6 million, while number 60 set the tone when it sold for $4.55 million in 2008.

This North Avoca Pde house sold for $4.6 million.

CORAL CRESCENT, PEARL BEACH

The sleepy hamlet of Pearl Beach has long been a favourite weekender for wealthy Sydneysiders, which has seen prices in the mid $3-4 million mark since the early 2000s.

In 2004, number 46 Coral Cres went for $4.8 million, followed by numbers 22 and 42 both selling for $4.5 million in 2005 and 2007 respectively.

The three-storey home at 48 Coral Crescent has breathtaking views.

More recently beachfront homes have been commanding over $5 million with number 48 going for $5.2 million in 2015, number 32 going for $5.7 million last year and number 10 selling for an eye watering $8 million last month.

Waterfront home at 46 Coral Crescent at Pearl Beach sold for $4.8 million at auction.

Described as a “classic Australian beach house” the two storey property boasts six bedrooms and spectacular views stretching out to Lion Island.

ELIZABETH DRIVE, NORAVILLE

A hidden gem on the coast overlooking Hargraves Beach at Noraville, Elizabeth Drive, is sure to become one of the most sought after addresses.

Last month an older style brick house on the opposite side of the road to the beachfront properties at number 42 sold for $1.975 million, giving an indication of what buyers will pay to secure a spot in the street.

42 Elizabeth Drive, Noraville, sold for $1.975 million.

Another house across the road, overlooking the beachfront properties sold for $2.3 million in 2017.

But it was sale of number 13 for $6.3 million in July that has people talking. The palatial two storey beachfront home with a bespoke grand spiral staircase features five bedrooms, four bathrooms, open plan living and stunning ocean views all the way to Bird Island.

13 Elizabeth Drive, Noraville, sold for $6.3 million in July.

It featured a bespoke spiral staircase and unbelievable views.

FORRESTERS BEACH RD, FORRESTERS BEACH

The sale of an architecturally designed three-storey beachfront house with wrap around glass windows and stunning waterfall pool last year for $5.2 million put the market on notice that Forresters Beach Rd was a star on the rise.

The house sold for $5.2 million.

The house at number 65 boasts five bedrooms, five bathrooms and a four-car garage. It came after the sale of the house next door at number 63 for $3.5 million last year and the house across the road for $2 million in 2015.

Forresters Beach in general is becoming highly sought after with the sprawling acreage up the hill at 32 Whalans Rd going for $5 million last year along with the nearby number 2 South Scenic Rd fetching $4.25 million last October.

32 Whalans Rd, Forresters Beach, sold for $5.2 million last year.

ALBANY ST, POINT FREDERICK

Flanked by Brisbane Water on both sides, the leafy suburb of Point Frederick has long been regarded as a prestige address on the Central Coast.

Running down the spine of the suburb Albany St offers some breathtaking waterfront properties with prices to match.

Waterfront properties on Albany St, Point Frederick, are in high demand.

Eulalia Ave runs parallel to Albany St and offers equally stunning waterfront properties overlooking Caroline Bay.

Number 1 Albany St sold for $4.58 million when it went to market in March last year while number 28 fetched $4.1 million in August 2017.

This house at 28 Albany St, Point Frederick, sold for $4.1 million.

Running off both Albany St and Eulalia Ave, at number 1 Harrison St sold for $4.365 million in March this year with nearby 14 Eulalia Ave going under the hammer for $3.9 million in March 2019.

Waterfront properties on Eulalia Ave, Point Frederick, go for about $3-4 million.

ORANGE GROVE, BLACKWALL

Another of the lesser known gems on the coast, Orange Grove Rd at Blackwall is the silent achiever when it comes to high end property.

In December number 440 went for $3.208 million, while number 376 sold for $3.2 million in 2017.

Orange Grove Rd, Blackwall, is the quiet achiever of the coast’s high end housing market.

With pools, and deep water private jetties most homes along this stretch rarely sell for less than $2 million.

GRANDVIEW CRESCENT, KILLCARE

With the most expensive upper quartile for houses on the Central Coast at $2.15 million anywhere in Killcare is a desirable address.

While number 80 Beach Drive set a record for the suburb when it sold for $6.48 million in August 2019, it is Grandview Crescent which tends to dominate the big sales with number 86 going for $5 million in 2015.

Grandview Crescent is just one of many sought after addresses at Killcare.

Number 35 Grandview Crescent sold for $4.2 million in April this year while down the road number 45 sold for $4.025 million in June and number 75 sold for $3.341 million earlier this year.