Property investors who have had real estate in Coffs Harbour, 2450 should be relatively pleased with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 7.77%
If we look at median property appreciation over just the last three months, Coffs Harbour has given property investors a paper return of 2.07%. This puts Suburb as 717 on a list of fastest fasting appreciating suburbs in NSW
The most recent median price for Coffs Harbour is $444000, with sellers offering an average of -4.21% off the asking price.
Advertised rents are around the $415 mark per week – giving a return of 4.86% based on the median price in Suburb
Coffs Harbour, 2450 ranked 209th in NSW when comparing growth in median property values or capital gain over the last 12 months. Coffs Harbour is one of 3163 in our list for NSW
Across a shorter period, Coffs Harbour, 2450 has seen a median price increase of 0.00% over the last quarter.
At number 314th of NSW’s most discounted properties, Coffs Harbour is in the TOP 40% of the state/territory when listing in order of most discounted to least.
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.