Central Coast suburb profile: Terrigal

A little bit about Terrigal NSW 2260

Located 88km (1.5 hour drive) north of Sydney’s CBD and 11km east of Gosford, Terrigal covers approximately 9 square kilometres of the Central Coast. Home to about 10,613 people, it is probably the most well-known and icon area of the Central Coast. It has 6 parks covering nearly 5% of the suburb’s total area and includes stunning coastline, beaches and scenic lookouts.


Quick facts

Local Government Area:  Central Coast Council
Population: 10,613 (2011 Census)
Postcode: 2260
Nearest train station: Gosford

Why people love to live in Terrigal

Terrigal has always been a go-to for Sydney-siders escaping the big smoke in search for sand, sun and relaxation. For home owners and property investors, the relatively short commute to Sydney enables residents to have both the beach lifestyle and a strong income. Terrigal is truly magical, as you can see in these photos by Andrew Cooney.

Terrigal is a cosmopolitan suburb with beaches, cafes, bars, restaurants and community events and is attractive to young families, with almost 40% of Terrigal residents being couples with children. There is a great surf culture and landmarks like The Skillion attract keen walkers and hikers.  

Terrigal Beach - Photo courtesy of  Andrew Cooney

Terrigal Beach - Photo courtesy of Andrew Cooney

Also, Terrigal has a median house price of $879,000 (as at June 2017), but the standard of accommodation in that price bracket far exceeds the quality of similar priced property in Sydney. 72% of Terrigal residents own the property, whereas 28% are renters.

Buying in Terrigal

Capital growth has slowed in 2017

Buying in Terrigal has certainly changed over the years. The housing market experienced negative growth in 2012 & 2013, but for the last three years, Terrigal has seen double digit capital growth. However, that growth has slowed in the last 12 months to 9.88% growth in June 2017. Units median prices has slowed to a 5.54% change on the previous year’s growth, also experiencing double digit growth in 2016 and 2015.

Bank valuations are key to securing finance in an area that has experienced rapid growth and a slight decline. Working with a Central Coast mortgage broker like Mint Equity will help you mitigate any issues associated with low bank valuations. Local knowledge of the area means we can provide insights and comparable sale information to the lender, giving our clients a greater chance of approval.

Premium stock slow to move

If you are looking to buy in Terrigal, affordable stock moves quickly so it’s always a good idea to work with a local mortgage broker to have your pre-approved finance in place. Three-bedroom houses in Terrigal tend to stay on the market for around 31 days, whereas four-bedroom houses have an average of 57 days on the market. However, if you’re looking at the top end of town three-bedroom units with a median unit price of around $1.29m, they take a lot longer to sell, around 265 days.

Elysium  development by Central Real

Elysium development by Central Real

More bedrooms popular with Terrigal buyers

When it comes to buying a unit in Terrigal, there are more three-bedroom units listed and sold than two & one-bedrooms combined. As of today, there are 26 three-bedroom units available for sale, and already 31 have been sold this year. Whereas there are only 5 two-bedroom units and 1 one-bedroom unit available for sale in Terrigal.

Property investing in Terrigal

Terrigal will always be a favourite location to live in, however investors looking for strong capital growth or rental yields may be disappointed if they buy now. Whilst median rent for both houses and units are at the highest level in many years, the gross rental yield is at an all-time low, because the purchase prices have gone up. Property investors who bought in 2014 and 2015 are cheering, but investors buying in Terrigal now will need to wait a few years to benefit from capital growth.

Elysium  development by Central Real

Elysium development by Central Real

New developments in Terrigal

There are several new developments going up in Terrigal at the moment with most already sold off the plan, but there are still opportunities for buyers to negotiate on price in a market that has tapered off a little. In a market where purchasers may have bought off the plan in the peak growth period, yet now need to settle and resubmit their finance request in a slower market, some may need to sell. That means we may well see brand new properties return to the market because their finance has fallen through because of a lower bank valuation as they nearer completion.

New prestige apartment complexes are underway by local developers attracting wealthy Sydney siders and investors to the beautiful suburb. The latest release is a stunning Elysium development by local developer Central Real. Elysium’s six individual boutique buildings contain a limited collection of architecturally considered contemporary residences. The project launches on Thursday and the display suite opens on 21 October 2017 in West Gosford. However, this type of quality development will come at a price and with ocean views, walk to beach access and with a focus on privacy, these apartments are priced between $770,000 for 2 bedroom apartments and up to $3,200,000 for 4 bedroom beachfront penthouses.

Speak to a local mortgage broker

If you’re looking to buy in Terrigal or on the Central Coast, Mint Equity are able to take the stress out of finding the right mortgage. Our services are free of charge as we’re remunerated by the lender you select.

To learn more about how Mint Equity can help, contact us on 02 4340 4847.

These beautiful photos of Terrigal are courtesy of Andrew Cooney