Giving property investors a an average capital gain of 6.89% for the last year, Coffs Harbour, 2450 is the 1726th highest performer in Australia in this respect.
Comparing Coffs Harbour,2450 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Coffs Harbour, 2450 is offering NSW ‘s 930th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 30% of discounts offered by this NSW.
Situated 428.45km from the CBD, Coffs Harbour is one of Coffs Harbour localities in the postcode 2450.
If you compare the increase in value of investment property in Coffs Harbour, 2450 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this NSW suburb was 0.97%.
If we look at median property appreciation over just the last three months, Coffs Harbour has given property investors a paper return of -1.27%. This puts Suburb as 466 on a list of fastest fasting appreciating suburbs in NSW
The most recent median price for Coffs Harbour is $311000, with sellers offering an average of -3.68% off the asking price.
Advertised rents are around the $320 mark per week – giving a return of 5.35% based on the median price in 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.