Coffs' property power a mix of coastal and rural
THE Coffs Harbour region's strongest-performing suburbs have been mostly coastal, but strong sales figures also appeared for rural areas.
Houses outperformed units over the 12 months to September, with several unit markets notching up losses.
Woolgoolga bucked that trend, recording a 15.5% increase in the median unit price to $380,000.
House values were also on the steady increase, bumping up 6.7% to a median of $415,000.
The Edge Real Estate principal Tim Bynon said mid and lower-cost homes were the year's best sellers.
"Not necessarily across the board, but there was definitely a good increase in prices on properties in the sub-$500,000 price range," he said.
"Beachside areas like North Sapphire are going really well as well.
"And units around Jetty Beach have been very strong, and rural properties not too far from Karangi and Nana Glen have had a lot of interest."
Sapphire Beach notched up a 7% increase on the median house price to reach $615,000 and Nana Glen house prices improved to a median of $435,000, an 11.9% boost on the previous year.
Sawtell stood out as a top investment spot for both houses and units, recording a 16.1% lift in house prices to $557,500 and units improving 11% to a $317,325 median.
Coffs Harbour house values held steady with prices increasing 0.4% to $401,500 but units dropped off 4.5% to a median of $263,000.
In the Nambucca council area, Scotts Head and Hyland Park both notched up house price increases of 15% or more.
Mr Bynon expected the market to pick up further this year on the back of Sydney's property boom.
"We are a bit slower to see the beneficial effects of Sydney's increased activity, so we should still see them for another 12 months or so," he said.
"I don't think the government seems too keen on having a lot of activity on interest rates, so while they hold I think it should remain positive.
"We haven't had that serious boom, but it has been good, consistent growth that will hopefully continue."
Not a boom but a sustained rise in property values
THE Coffs Harbour property market may not be undergoing a boom, but its sales volumes are consistently increasing alongside its property values.
The Edge Real Estate principal Tim Bynon said one area stood out among the rest.
"Sales volumes were well up on the previous few years by about 8-10% overall," he said.
"Woolgoolga has been very good. We've seen consistent sales and good turnover.
"The top end of the market is just starting to move again now.
"It was a busy year winding up to Christmas, and early indicators are for a good post-new year period."
The Woolgoolga market's property turnover was up 50% from 47 sales in 2014 to 71 last year.
Units were more subdued with 23 sales compared to 26 the previous year.
The results were on the back of strong increases in median values for both houses and units
Coffs Harbour house sales remained steady with 310 transactions last year, compared to 314 in 2014 and 306 the year before.
But unit sales continued their steady year-on-year increase since 2011, reaching 321 sales last year.
Mr Bynon predicted at least another year of strong turnover.
"There are a lot more people coming out of Sydney now," he said.
"We're really only now starting to see the flow-on effect of its property boom of the past couple of years.
"It's gone so crazy that people in their 40s and 50s are going into early retirement and buying properties on the coast."