Coffs Harbour Research Factsheet 2nd Half 2017
Coffs Harbour is a highly demanded market that thrives thanks to the coastal location, nearby services and ongoing economic growth. Coffs Harbour is experiencing a strong growth in sale prices within the market of 11.8% for houses and 17.6% for units. The annual growth is complimented by the wider Coffs Harbour LGA, also experiencing strong growth of 10.9% for houses and 18.3% for units. Meanwhile, Coffs Harbour’s median prices remain slightly lower than the wider LGA which presents a more affordable option for buyers who will be rewarded by ongoing capital growth.
Attractive rental conditions are on offer in the market with strong rental yields of 4.4% (houses) and 4.9% (units). Further indication of strong rental demand is the low vacancy rates of 1.3% in the area.
Project development in the Coffs harbour region for 2nd Half 2017 is estimated at $91.4M, with a scope of residential, infrastructural, commercial, mixed use and industrial projects. Economic growth and employment in the area will be sustained by the balance of development projects commencing in the 2nd Half of 2017.