Kariong property owners can be optimistic. Sydney demand, coupled with the expansion of Somersby, will benefit Kariong. Call Mortgage Choice Kariong for more.
Kariong's residential housing market comprises a total of 2,255 dwellings, of which 2,066 are fully detached houses, making it one of the lowest-density suburbs on the Central Coast. This partially explains the very low turnover rate. Only 82 Kariong houses sold in the year ending 31/03/25, meaning houses sell, on average, every 25.19 years. This is a family formation suburb with backyards and high employment levels (many commute to Sydney & Newcastle).
Bank risk analysts will always prefer areas with consistently low unemployment rates, such as Kariong, as this economic factor plays an integral role in stabilising property values, particularly in tough times.
As you can see from the chart below, Kariong was not immune to the effects of the COVID-19 interest rate stimulus package. Prices skyrocketed by 15%, 26% & 11.60% over three consecutive years. Over the following three years, like much of the Central Coast, prices have stabilised, especially when considering the high levels of inflation.
We at Mortgage Choice Central Coast believe that Kariong's homeowners should be optimistic. The fundamentals work in their favour. This market's supply is captured by land zoning. As the nearby Summersby industrial park expands, the local residential land supply remains fixed. Demand from Sydney (assisted by the NorthConnex tunnel) and Newcastle, both of which are experiencing massive population growth, will inevitably drive Kariong's relatively affordable house prices up.
Please call us at Mortgage Choice Central Coast to discuss your property plans.