Gosford units are proving to be a hot target for first-home buyers on the Central Coast.
The August 2025 median unit price results have been released, with the 2-bedroom unit at $540,000, representing a 3.8% increase over the last 12 months.
This affordable entry point is a clear reason for the demand from first-home buyers, but it is the First Home Buyer Guarantee Scheme that is also driving this demand. If a first-home buyer is eligible for the State and Federal Government benefits, they may be able to purchase a $540,000 2-bedroom unit with savings as low as $29,500. I have broken down the transaction below:
$540,000 Proposed Purchase Price
+ $ 352 NSW government stamp duty and fees (State stamp duty waiver would save $18,712)
+ $ 2,148 Approximate legal and inspection costs
+ $ 0 Lender's Mortgage Insurance premium (Federal waiver would save around $12,000)
= $542,500 Total purchase cost
- $ 29,500 Savings contribution by the first home buyer
= $513,000 Estimated home loan amount
The two government first-home buyer savings in this example total $30,712. In addition to this benefit, variable interest rates can often be around 0.50% lower under this scheme, resulting in significant ongoing savings.
Based on a 30-year loan term and an interest rate of 5.75%, the minimum monthly repayment would be $2,994, $1,382 fortnightly, or $691 weekly. The current median rent for 2-bedroom units in Gosford is $530 per week.
