Suburb Profile Report for Coffs Harbour NSW (2450)

Coffs Harbour House: Median price $475,000, Annual capital growth 3.78%, Number of sales 373, Weekly median advertised rent $420

Coffs Harbour Unit: Median price $333,500, Annual capital growth 3.85%, Number of sales 360, Weekly median advertised rent $335

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

At number 1931th in the list of Australian suburbs ordered by increase in median house value over the last year, Coffs Harbour, 2450 is in the top half with a property value increase of 7.95% recorded in median house prices.

Across a shorter period, Coffs Harbour, 2450 has seen a median price increase of 2.15% over the last quarter.

Coffs Harbour2450 is located in NSW which offers an average discount of -5.26% to property investors. Coffs Harbour itself is showing figures that indicate -3.82% is the average achievable by property buyers investing in the suburb.

Advertised rents are around the $420 mark per week – giving a return of 4.60% based on the median price in Suburb

Investment property in Coffs Harbour has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 5.87%

While Coffs Harbour,2450 ranked number 320th in NSW for increase in median house value (annualised) increase, it is ranked 431th over the last 5 years.

Our latest figures would indicate that property sellers in Coffs Harbour are currently offering property investors an average price cut of -3.70% below the asking price at the moment.

Residents and property investors in Coffs Harbour have been waiting around 71.37 days to sell a property.

With the median price for a house in Coffs Harbour being $333500 and the advertised rent reaching $335 the gross rental yield for property investors calculates out to be 5.22%

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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.Full summary

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.

Close
Metrics i HOUSE UNIT
$475,000 $333,500
2.15% 0.45%
7.95% 5.87%
3.78% 3.85%
$420 $335
373 360
4.60% 5.22%
78.22 71.37

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in Coffs Harbour NSW
Demographics
Total population 24581
Median household income ($/weekly) 847
Median age of persons 42
Median housing loan repayment ($/monthly) 1560
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 2918 11.9
    25-34 years 2660 10.8
    35-44 years 2981 12.1
    45-54 years 3279 13.3
    55-64 years 3270 13.3
    Others 9473 38.5
    Age Group
    Census Count Percent(%)
    Not Married 8229 46.6
    Registered Married 7642 43.2
    Defacto Relationship 1801 10.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 19845 85.5
    Indonesia 143 0.6
    Papua New Guinea 374 1.6
    United Kingdom 986 4.3
    Other 807 3.5
    Others 1044 4.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 270 1.2
    Christianity 16221 72.9
    Islam 118 0.5
    Other Religious Groups 251 1.1
    No Religion 5269 23.7
    Others 107 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 994 11.1
    $400-$599 1367 15.3
    $600-$799 1158 13.0
    $800-$999 945 10.6
    $1,500-$1,999 933 10.5
    Others 3518 39.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 8219 43.3
    Employed, worked full-time 5507 29.0
    Employed, worked part-time 3626 19.1
    Unemployed, looking for work 982 5.2
    Employed, away from work 628 3.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 1194 12.2
    Professionals 1700 17.4
    Technicians & trades workers 1344 13.8
    Clerical & administrative workers 1427 14.6
    Sales 1227 12.6
    Others 2870 29.4
    Occupation
    Census Count Percent(%)
    Pre-school 410 7.6
    Infants/Primary 1805 33.4
    Secondary 1468 27.2
    Technical or Further Educational Institution 854 15.8
    University or other Tertiary Institutions 700 13.0
    Others 164 3.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 16142 71.9
    Semi-detached, row or terrace house, townhouse 3012 13.4
    Flat, unit or apartment 2975 13.3
    Caravan, cabin, houseboat 292 1.3
    House or flat attached to a shop, office 26 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 3982 41.8
    Fully owned 3160 33.2
    Being purchased 2306 24.2
    Other tenure type 79 0.8
    Tenure Type
Census 2011, ABS
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