Why Invest in Coffs Harbour?
About Coffs Harbour
Coffs Harbour is a major coastal town located on the north coast of NSW, halfway between Sydney and Brisbane.
This area has long been a popular spot for retirees and domestic and international tourists alike and has experienced consistent population growth over the past decade.
Government-supported upgrades have recently revitalised the town for its almost 80,000 residents, to allow it to continue to grow and meet the needs of an expanding community.
Read on for our top reasons to live or lease in Coffs Harbour, and why building a home here is a good investment.
The Lifestyle
A beautiful climate, natural beauty and strategic position between two major business hubs on Australia’s east coast have seen Coffs transform into an important regional center for investment, business and tourism.
Located just 4km from the town centre, Coffs Harbour airport facilitates weekly direct flights to Sydney, Melbourne and Brisbane.
Despite its expansion, Coffs Harbour retains its laidback coastal vibe with a well-balanced mix between work and play.
The Property Market
Now is an ideal time for owner-occupiers and downsizers to capitalise on their investments.
Rental supply is very low in the Coffs Harbour region (0.9% in Q1, 2022*) with the highway bypass adding to this lack of supply, as well as increasing the average weekly rental yield.
Rental prices have increased by 31% in the past four years within Coffs Harbour, with the weekly average rental costing $590 per week. In March 2022, Coffs Harbour recorded a median house price of $805,000, representing a compound growth rate of 18.4% for houses.*
A snapshot:
- Average Vacancy Rate: 0.9%*
- Average Rental Yield: 4.0%*
- Median House Price: $780,000*
* Source: www.realestate.com.au
The Infrastructure & Development
In recent years, Coffs Harbour has welcomed significant upgrades to accommodate growth and improve liveability.
A $6.5 million revamp of the airport was completed in 2017 and over $30 million went into commercial industrial and office spaces.*
The Jetty Foreshore upgrade already features a boardwalk, a plaza area and events space, and the recreation hub is set to expand further.
Highlights:
- Coffs Harbour Bypass – Underway with completion 2027 – $2.2billion project with 600 direct jobs.*
- Coffs Harbour Hospital Upgrade –Just completed – $194 million project. The redevelopment project will see enhancements to the existing surgical and operating theatres.*
- Pacific Bay Movie Studios – Planning phase – $438 million project.*
* Sources: www.dpn.com.au; www.coffsharbour.nsw.gov.au
The Economy
The tourism industry is vital to the Coffs Harbour economy with over 1.6 million visitors every year and 830 businesses working in the industry.
Coffs Harbour is home to over 6,000 registered businesses, and the Coffs Harbour LGA is focused on building a high-value economy of choice for business, investment and employment.
Coffs Harbour City Council’s Gross Regional Product is estimated at $3.66 billion, which represents 0.57% of the state’s GSP (Gross State Product) according to economy.id.com.au.
Stroud Homes Investment Homes Coffs Harbour
Dual living and attached granny flat house plans staying inside the required 60m2, such as the Chez Ami 245 design, are working well for investors in the area and offer a higher return on investment than a standard 4-bedroom home.
These dwellings carry lower contribution costs to councils than duplex builds and are a less complicated process to abide by the council and government regulations.
Our house and land investment packages are full turn-key prices and are located in superior estates within the Coffs Harbour region.
Want to know more?
Come visit us at our new Display Home in Bonville.
Browse all of Stroud Homes’ modern and functional new home designs to find your dream home.
Office number: 02 5606 2676
Email: infoch@stroudhomes.com.au
Alternatively, complete the contact form below:
