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 8.19%
Across a shorter period, Coffs Harbour, 2450 has seen a median price increase of 2.05% over the last quarter.
Coffs Harbour, 2450 is offering NSW ‘s 891th 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.
With the median price for a house in Coffs Harbour being $449000 and the advertised rent reaching $420 the gross rental yield for property investors calculates out to be 4.86%
NSW has seen average median house prices change by 5.88% which means that Coffs Harbour, 2450 has done well for property investors by showing a capital gain of 5.42% over the last year
The five-year average increase in median property values for Coffs Harbour,2450 has given property investors a potential capital gain of 21.96% across each of those five years.
At number 323th 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.
Renters in Suburb are facing rents around $3840 per annum or $320 every week.
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
Information supplied by:
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.