News

COVID-19 & The Last 3 Months In Kincumber

By Gabe Vass

Why Now?

In the face of the ‘doom and gloom’ media reporting surrounding the impact of COVID-19, the resilience of the Central Coast housing market has never been more evident than over the past four months. Most of us are surprised at the strong level of activity and prices achieved in Kincumber and surrounding suburbs, despite the market operating under restrictive conditions and amidst extremely negative media commentary.

Despite progressing restrictions and anxiety in the broader community, Kincumber has seen 52 sales so far this year, with 30 of those occurring after the initial restrictions were put in place in March. Here at Ray White we have sold 36 properties in 2020. Since COVID-19 impacted our area we have sold 25 properties, totalling $21.2 million for the last three months.

Kincumber notably has seen a 4.6% growth in pricing since 2019, with two sales over one million this year thus far – the highest being 230 Cullens Road, a six bedroom property on 15 acres selling for $3,950,000. The median sale price for the suburb is holding at $680,000 with many buyers ranging from entry level to matured families seeing value in Kincumber with its amenities, schools, and proximity to the beaches.

We know buyer enquiry has definitely increased and we’re seeing strong numbers at open homes on the weekends. With four properties under contract in the first week of July, we’re focusing on working religiously with our buyers and giving our vendors the best possible service.

This report explains why we are seeing strong sales results now, relevant data, and the outlook for the balance of 2020 – an interesting read if you’re monitoring the market, or considering selling…

To download the above PDF please follow this link Ray White Now. If you would like to find out what your home is worth today, please get in touch with your Kincumber specialist on 0425 215 764 or email gabe.vass@raywhite.com

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