House prices jump 30 per cent



A SLOWDOWN in the March quarter failed to stop property prices in the Coffs Harbour local government area rising by 30 per cent in the 2003/04 financial year. Department of Housing figures show the median price of all properties sold in the city was $286,000. The increase compares well with Port Macquarie, where prices rose 21.9 per cent, but is dwarfed by massive rises in other nearby areas. Nambucca's median price rose 53.8 per cent to $285,000, while in both the former Grafton and Pristine Waters local government areas, prices rose 50 per cent. The median price in Bellingen rose 35.5 per cent to $255,000. Rents in Coffs Harbour failed to match the rise in purchase prices, with the biggest jump being 14.3 per cent for two-bedroom flats, which had a median price of $160 per week. The median price for threebedroom houses was $240 per week, a rise of 9.1 per cent.



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