Coffs’ Property Outlook shows great promise

THE Coffs Harbour market has recorded property price growth despite a slow down in demand.

New figures released as part of the latest Property Outlook revealed that the median property price in Coffs Harbour had increased by 4.9 per cent compared with the same time last year.

Views of listings online had dropped slightly in the past quarter compared with the same time last year by 0.7 per cent.

“In regional NSW, demand conditions are mostly mixed with Orange and the Richmond Valley seeing big jumps in the number of people looking to buy. Wollongong and Shellharbour, where market conditions are more closely linked to Sydney, have now seen declines in demand of about 40 per cent,” 
Nerida Conisbee

REA Group chief economist Nerida Conisbee said there had been renewed interest in lifestyle and tourism locations with buyers.

While things were slowing down in the southern powerhouse markets of Sydney and Melbourne, other areas, particularly regional areas were starting to surge.

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