Property Prices Central Coast NSW

We bought a high quality unit on the beach in Ettalong NSW 16 mths ago, tried to holiday let, complete failure so sold furniture  and now renting $400 p/w under valued. Property costs $730k. This has been a heavily negative geared investment, (costly experience with not earning income). Does anyone have any idea's of a time frame regarding price increases for central coast NSW, my gut feeling is that with increasing interest rates we could be waiting a few years before a move is likely, we live in Perth WA and bought this property so we could be close to family who are aging. Any thoughts would be appreciated.