Proper homes with ample living space, a thriving local economy, quality amenities, a wide variety of job opportunities, short commute times, relatively affordable housing and a consistently stable property market…
With a sub $1 million median house price and all of the essential infrastructure, this major regional city offers an A-grade lifestyle that many bigger cities cannot compete with.
Set within the broader NSW Northern Rivers region and with a current population of 83,000, Coffs Harbour is Australia’s 32nd largest city.
It boasts neighbourhoods with backyards and a community connection to natural elements such as parklands, sports and beaches.
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Before the end of Q1 2027, the $2 billion Coffs Harbour Pacific Highway bypass project will be completed.
That major infrastructure investment will further enhance access to this popular region.
By car, Coffs Harbour is situated 5.5 hours north of the state capital city and 4 hours south of Brisbane.
An even quick trip is possible by air, with the annual passenger volume through Coffs Harbour’s airport fluctuating between 250,000 and 420,000.
From a real estate perspective, Coffs Harbour’s capital growth rate over the last decade was 100 percent.
That property market performance was surpassed by only 3 of Australia’s 8 capital cities (Brisbane 130 percent, Hobart and Adelaide both 120 percent).
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While this region’s total population growth is typically below the national average, that’s primarily because it does not receive large annual intakes of overseas migrants, like Sydney and Melbourne do.
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Coffs Harbour consistently experiences a manageable increase in population, growing by 11.4 percent over the last decade and 24.5 percent over the last 20 years.
Over the last decade, Coffs Harbour added more than 1,700 to its population from internal migration.
Conversely, 6 of 8 capital cities produced a population decline from people relocating away.
A high portion of those who migrate from somewhere else in Australia to this wonderful regional city are mature-aged people in a stable financial position.
26 percent of Coffs Harbour’s population is aged 55-74.
For comparison, that age demographic represents just 19 percent of Sydney’s population and 21 percent of the national population.
As with many other wonderful regional Australian cities, the low-density lifestyle offered by Coffs Harbour is one of its biggest assets.
Instead of congestion, high-rise concrete buildings, shadows and a frustrating lack of space, residents of Coffs Harbour are still able to enjoy the grass-root attractions that Australia originally became famous for.
People who live in A-grade communities like this are able to enjoy simple pleasures like sunlight neighbourhoods, having ample room at home to entertain, separate bedrooms, backyard comforts, and an abundance of close-by recreation activities.
It is no wonder that Coffs Harbour has an impressive 75 percent homeownership rate.
Home values increased a whopping 7.8 times over the last 30 years, from $122,000 to $930,000.
As for the rental market, Coffs Harbour’s rental vacancy rate rarely exceeded 1.5 percent throughout the last decade.
The current vacancy rate of 1.1 percent is tighter than Sydney, Melbourne and Canberra.
Whether in Coffs Harbour or elsewhere, the specific city that one prefers to live in is subject to each household’s biases and personal preferences.
However, when it comes to investing in one’s future, the most intelligent decision is one which disregards biases and considers the identifiable growth drivers and risk profiles of each of Australia’s 400 towns and cities [here’s how].
Propertyology are national buyer’s agents and Australia’s premier property market analyst. Every capital city and every non-capital city, Propertyology analyse fundamentals in every market, every day. We use this valuable research to help everyday Aussies to invest in strategically-chosen locations (literally) all over Australia. Like to know more? Contact us here.
