For many Central Coast residents, 2022 will be a year to forget with disastrous floods, another wave of COVID, super-sized increases in land rates and the distant spectre of war in Europe – is 2023 likely to be better or worse?
Coast Community News readers identified five things they see, above all else, that will be front of mind for residents as we head into the new year.
The weather
This time last year, the eastern seaboard of Australia was in the grip of a La Niña weather system that saw much of the Central Coast and the Hawkesbury impacted by major flooding, beaches closed and the region’s local road pitted with dangerous potholes.
The Bureau of Meteorology is currently predicting La Niña to continue through Summer but say that some indicators are showing signs of declining strength.
La Niña typically increases the chance of above average rainfall for eastern Australia during summer and, therefore, many are predicting a less catastrophic summer in terms of flooding – the less optimistic among us however, are already pointing to the increasing risk of bushfire (and a sudden return of El Niño at the end 2023) given high fuel loads after three wet years.
The absence of a deluge of rain and COVID restrictions so far this summer and has, of course, given rise to the return that other deluge on the Coast – tourists – so don’t expect a quick park or coffee until after Australia Day.
Inflation and interest rates
Central Coast house prices reportedly fell by around 10 per cent in 2022 – as an example, the median house price in Ettalong Beach fell 10.9 per cent to below $1M according to Core Logic data.
While this has been attributed in part to a reversion of the COVID boom in coastal property, there are now growing signs of mortgage stress emerging following seven consecutive increases in the official cash rate from 0.1 per cent to 3.1 per cent, with another rate increase being predicted by many economists in February.
Variable mortgage rates are now generally 6-7 per cent, meaning that payments on a $500,000 mortgage are around $600 a fortnight more than this time last year.
The root cause of higher interest rates is the sharp rise in price inflation – reaching over 7 per cent nation-wide last year – driven by higher food, fuel and electricity costs among other things.
Higher mortgage payment at a time of rising electricity bills and higher land and water rates are expected to have a very material impact on household disposable income and that’s not good news for retailers on the Coast.
NSW state elections
In March 2023, Central Coast residents will go to the polls in the NSW Electorates of Wyong, Swansea, The Entrance, Terrigal and Gosford.
A Roy Morgan poll on state voting intentions reportedly showed the ALP (52 per cent) slightly ahead of the Liberal-National coalition (48 per cent) on a two-party preferred basis.
Polls can be misleading, we all know, and there are many wild cards once again with the possible emergence of well-organised, community-based Independents or resurgence in the Greens vote – on a primary voting basis, both major parties are below 40 per cent.
The key local issues that loom large for Central Coast voters are the rising cost of living, affordable housing, the preservation of COSS and native bushlands, the timing of local government elections and progress on new infrastructure commitments, most notably in the new (UoN) Central Coast University Campus and fast rail line.
Breaking the shackles of COVID
After three years of COVID lockdowns, restrictions and disrupted global supply chains, will daily life on the Central Coast finally break the shackles of the pandemic?
New COVID infections in NSW have fallen after rising through Nov-Dec and the government has announced new requirements for testing of travellers from China in response to a post-lockdown surge in cases there, leading to increased confidence that life may get back to “normal” in 2023.
This may be good news for the local hospitality industry, schools and the health system (including healthcare workers who have been stretched to the limit and patients waiting for elective procedures), but for most local business operators it will likely be some time before global supply chains are fully re-established and labour shortages ease.
One key implication for the Coast is that many people believe work-from-home arrangements are here to stay, which may means less commuting and more sea-changers coming to the Coast.
2023 Women’s Football World Cup (and all things soccer)
The FIFA Women’s World Cup is coming to Australia and New Zealand and two international teams – England and Germany – will be based on the Central Coast during the tournament.
European Champions England will be based at Industree Stadium in Gosford with Germany to make the Central Coast Sport and Recreation complex at Tuggerah their home.
On the subject of Women’s football, the first Mariners women’s team will officially enter the 2023-24 Liberty A-League Season later this year, with local forward, Annalise Rasmussen, a long-time women’s academy member becoming the first signing for the club back in October.
And, while we’re at it, could the Mariners Men’s A-League squad bring home the premiership?
With their exciting 2-1 win over Melbourne Victory catapulting the blue and yellow (momentarily) into second place on the A-League ladder, local football fans on the Central Coast are daring to dream and CCN Digital Editor and Mariners tragic David Abrahams has already been seen dusting off his supporter’s gear.
CCN
The key issues you highlight in the state election are clearly coming from a greens point of view. What about hospitals, new schools, road maintenance, law and order, illicit drug use, local economic development, six cities. As usual your view is narrow.
Six Cities, new University, fast rail, Gosford Waterfront progress.