The Central Coast

Gross Regional Product The Central Coast’s Gross Regional Product e.g. the wealth of the region generated by businesses, organisations and individuals working in the region, has grown from $14,387 million in 2016 to $15,515 million in 2020 an increase of 7.8% over the last five years. Age structure The Median Age has risen from 41 years of age in 2011 to 42 years in 2016 and this compares also with the State Median Age which is now 38 years. Traditionally the Central Coast has an older population although the 2016 Census indicates a growing proportion of people in the under 34 year age group. Age structure of the Usual Resident Population – 2016 Age group Number % 0 to 19 years 80,356 24.6% 20 to 34 years 53,452 16.3% 35 to 54 years 83,006 25.3% 55 to 64 years 42,364 12.9% 65 and over 68,560 20.9% Total 327,738 100.0% Source: ABS Census 2016 Household income Median weekly household income has risen from $1,003 in 2011 to $1,258 in 2016. This is an increase of 25.4% and may indicate a changing demographic as more people with higher incomes move into the region, particularly in the southern areas. Median monthly mortgage repayments Median monthly mortgage repayments in 2016 were $1,750 and this compares with $1,820 in 2011. This decline may be due to lower interest rates over the past five years. Median weekly rent Median weekly rent however has risen from $270 per week in 2011 to $350 per week in 2016 – an increase of almost 30%. Commuters Due to its proximity to Sydney, lower housing costs and lifestyle, the Central Coast has traditionally been a region where around 30% of the workforce finds employment in the Greater Sydney Region. Most of these workers would prefer to work close to home. Employment The number of Central Coast people employed in the region is 121,679 while the total number of employed residents is 153,736 indicating a communter workforce of 32,057. The largest employing industry on the Central Coast is Health Care and Social Assistance. Construction on the Central Coast over the past five years has grown from 10,476 in 2014/15 to 13,436 in 2019/20. Central Coast - Employed people Industry 2019/20 2014/15 Agriculture, Forestry & Fishing 1,163 1,301 Mining 813 589 Manufacturing 8,681 8,817 Electricity, Gas, Water & 1,616 1,303 Waste Services Construction 13,436 10,476 Wholesale Trade 2,278 2,343 Retail Trade 13,756 15,266 Accommodation & Food Services 9,830 10,526 Transport & Warehousing 3,943 3,497 Information Media & 1,453 1,411 Telecommunications Financial & Insurance Services 2,613 2,306 Rental, Hiring & 2,497 2,103 Real Estate Services Professional, Scientific & 6,598 5,097 Technical Services Administrative & Support 5,168 4,231 Services Public Administration & Safety 6,500 5,885 Education & Training 11,371 9,728 Health Care & Socal Assistance 22,670 20,337 Arts & Recreational Services 1,978 1,771 Other Services 5,317 5,277 TOTAL 121,681 112,264 Economic Profile 2021-22 CENTRAL COAST INVESTMENT PROSPECTUS 20