Suburb spotlight: Living and investing in Long Jetty NSW 2261

A little bit about Long Jetty NSW 2261

Once a suburb you would drive through and not think twice about, Long Jetty has experienced a rejuvenation over the last 5 years. Sydney holiday-makers may know the suburb as the last one to pass through to get to The Entrance.

Today, Long Jetty is home to hipsters, second-hand furniture stores and uber cool cafes – and people are flooding to the beach and lakeside suburb. Population has grown 12.8% over the last 5 years, and with a median house price of $707,949, the suburb growth can be attributed to both investors and first home buyers.

Quick facts

Local Government Area: Central Coast Council
Population: 5,789 (2011 Census)
Postcode: 2261
Nearest train station: Tuggerah (21min drive)

 

Why people love to live in Long Jetty

The hipsters have arrived and given Long Jetty personality! The Central Coast has been crying out for locations that are individual and simulate the funky vibes of Sydney – and Long Jetty is coming to the rescue.

The main street is dotted with bohemian cafes, bright coloured retailers, vintage clothing and furniture stores. Positioned on a peninsula, the suburban streets are either beach or lake side, giving residents the true coastal experience.

Long Jetty is the classic example of ‘follow the cafes’ to find the next property hot spot. And sure enough, as soon as the cafes scene started sprouting, Long Jetty’s property prices started to increase.

Even 'The Block' contestants Kyal & Kara love Long Jetty

The latest renovation project from former The Block contestants, Kyal and Kara, is a stunning 4 bedroom, 3 bathroom, property at 82 Pacific Street, Long Jetty NSW 2261.

Although the stylish property might look a little out of place in Pacific Street at the moment, Kyal and Kara have clearly done their research, and the big money is coming to Long Jetty. No doubt the Palm Springs inspired residence will easily top the street record, but it will be very interesting to see the final sale price given the small land size (658sqm) and non-waterfront position.

The last property to sell in a similar price bracket was a waterfront property on Gordon Road Long Jetty for $1.35m 5 months ago.

Buying in Long Jetty

Bargain hunters may say, ‘the horse has bolted’, as Long Jetty has experienced excellent growth with the median house price increasing by $200,000 in just two years! And for those who purchased five years ago, the median house price has doubled!

However, it will be interesting to see if Kyal & Kara’s renovation prompts property flippers to take a closer look at Long Jetty properties, of which there are still a few under $600,000 for sale. Kyal and Kara originally purchased the Pacific Street property for $710,000 in January 2017.

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Investing in Long Jetty

Whilst median house prices have increased substantially in Long Jetty, house rental yields have dropped dramatically due to the increase in property prices. However, the starting point was high (above 5%) back in 2013, gross rental yields now sit around the 3% mark, which is still a good return for investors.

A brand new three bedroom house on 700sqm in Long Jetty rents for around $530 per week, whereas older style properties achieve between $430 to $460 per week.

Units still provide a good returns, siting at just under 4.5% gross rental yield. Unit/duplex/townhouse properties provide good value at around $380,000 for a two bedroom apartment.

Speak to a local mortgage broker

If you’re looking to buy in Long Jetty or on the Central Coast, mortgage broker 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.