Coffs Harbour is in the bottom 40% in NSW when comparing median price capital growth over the last year. Coffs Harbour gave property investors a disappointing capital gain figure when compared to the rest of the state, with 5.58%.
When looking at the potential capital gains offered to property investors over the last 3 years, Coffs Harbour comes in at number 1116th in NSW.
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.35% offered to property buyers. Sellers in Coffs Harbour itself are offering an average vendor discount of -3.92% to real estate investors.
Often selling an investment property can take time, and in Coffs Harbour the average time real estate has been on the market is 84.93 days.
Over the last year, property investments in Coffs Harbour, 2450 have given investors a capital gain of 3.23%. This compares badly with the 6.96% for NSW as a whole.
If we look at median property appreciation over just the last three months, Coffs Harbour has given property investors a paper return of 1.59%. This puts Suburb as 299 on a list of fastest fasting appreciating suburbs in NSW
Property buyers and investors in Coffs Harbour 2450 should be seeing an average reduction in asking price of around -3.53% . This means that Coffs Harbour is holding prices well when compared to other suburbs in NSW.
Property investors should expect to get $325 weekly from the median priced house in this suburb.
Coffs Harbour will be familiar to many as the home of the Big Banana, but it’s also likely to provide big opportunities for investors. Around 540km north of Sydney, the economy is mostly based around banana growing and tourism, with some manufacturing.Full summary
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Coffs Harbour will be familiar to many as the home of the Big Banana, but it’s also likely to provide big opportunities for investors. Around 540km north of Sydney, the economy is mostly based around banana growing and tourism, with some manufacturing.
Coffs has a busy airport which runs regular flights to Sydney and Brisbane. There is also a rail station connecting Coffs to both cities, and the area is set to benefit from significant upgrades to the Pacific Highway (which runs through the town).
The city’s permanent population is projected to increase from 70,000 to 80,000 between now and 2016 – notwithstanding seasonal increases of around 30,000 people. Much of this growth will be down to retirees and sea changers relocating from cities, particularly Sydney. This is something that may increase in coming years, as baby boomers who may have delayed retirement due to the GFC downsize.
However, there is also a significant working population with more than half of the town’s populace being between the ages of 20 and 59. This, combined with the relatively diverse industrial base, means that the city isn’t entirely dependent on tourism and sea changers, and as such makes it a less risky investment than some other coastal towns.
There are a wide range of amenities in Coffs, with several shopping centres, a range of restaurants, sports facilities, schools and two hospitals. Its beaches are also famed for their beauty, and the hinterland of the Great Dividing Range is only a few kilometres west.