Over the last year, property investments in Coffs Harbour, 2450 have given investors a capital gain of 9.19%. This compares favourably with the 7.15% for NSW as a whole.
Comparing Coffs Harbour,2450 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Sellers are offering property buyers an average discount of -4.04% to buyers in Coffs Harbour at the moment, which is less than average for the rest of NSW.
Often selling an investment property can take time, and in Coffs Harbour the average time real estate has been on the market is 84.39 days.
Property value increases in Coffs Harbour have tracked just higher than the NSW average of 6.59% over the last 12 months.
If we look at median property appreciation over just the last three months, Coffs Harbour has given property investors a paper return of -0.67%. This puts Suburb as 366 on a list of fastest fasting appreciating suburbs in NSW
Vendor discounting in Coffs Harbour is giving property investors an average Vendor Discount of around -4.10%. This puts suburb at number 264th in NSW when ranking the most discounted suburbs.
In the last year 371 properties changed hands in Coffs Harbour, which puts it as the 8th most active market in NSW when comparing the number of sales per suburb.
Advertised rents are around the $320 mark per week – giving a return of 5.63% 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.