Central Coast Business Review - covering news from the business centres of Gosford, Erina, Tuggerah, Wyong and surrounding suburbs. 

December 2009 edition Cover Story

This is the word coming from a survey of shopping centre managers and retailers by CCBR and comes after the RBA increased rates by .25% in early November.

However, on a positive note, the Central Coast Research Foundation’s September 2009 Quarter Household Survey shows an improvement in consumer sentiment for both the next three months and the next twelve months – higher than it has been for the past three years.

While consumer spending intentions for the three months to December 2009 remain negative – indicating that residents will reduce their spending – there has been, for the first time since 2007, a more positive spending outlook.

As one centre manager put it, “Last year we had the Rudd Government bonus which certainly had a positive effect. But that won’t be the case this year.” This comment was reflected among other retailers.

All shopping centres report satisfactory trading results for the year considering the economic climate. “We haven’t gone backwards,” said another centre manager.

Meanwhile, holiday bookings are not looking bright for the Coast. Commenting on their bookings, Michael Hunter of Raine & Horne Coastal, which runs one of the largest portfolios of holiday lettings on the Coast said, “People are just not taking holidays. While the high flyers are not affected those who would pay around $2,500 to $3,000 per week are wanting something cheaper. While last year was a bad year I don’t think it will be quite as bad this year,” he said.

Mr Hunter said that usually they are booked out by mid-November each year. His comments were reinforced by Central Coast Tourism Acting Chief Executive Officer, Tony Collits who said that bookings were coming in very slowly for this time of the year.

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