I live only 10 minutes away from Terrigal and am very familiar with people from Terrigal residents and I don't seem to recognise any hype about Schoolies at all and don't recall their being one at all last year. Their isn't much partying and few clubs & pubs compared to other places. If you're planning to rent out a house and just chill for schoolies I would recommend that as it is quite beautiful around Schoolies time but if you plan to get wasted and get loose I wouldn't recommend it as a #1 spot. Police are quite strict in Terrigal and their isn't too much to do party-wise. Best of luck though PM if you want more info on the place
We've booked ours, on the 22nd of Nov - 25th at crowne plaza, me and my mates just sussing it out at Terrigal before we go gold coast, hit me up if anyones going on manni_gujral@hotmail.com
We'll plan something out