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A decade at home

The average hold time for a house in Coffs Harbour is 9.8 years and 9.5 years for those who purchased a unit.
The average hold time for a house in Coffs Harbour is 9.8 years and 9.5 years for those who purchased a unit. Digital Vision.

IT'S said that to be considered a local on the Coffs Coast, you need to have lived here for at least 20 years.

On average, local property owners are spending almost half that period living in the one home. 

The latest snapshot of the Coffs Harbour property market shows locals spend almost a decade in their homes before moving on.

According to RP Data/CoreLogic, the average hold time for a house in Coffs Harbour is 9.8 years and 9.5 years for those who purchased a unit.

When it comes to selling, houses are spending an average of 101 days on the market, while units take a little less time to see, averaging 95 days.

Meanwhile, finding a property to rent became a little easier last month when the city's rental vacancy rate increased to 2.7%.

The result followed a tough month for finding rentals in July when the vacancy rate tightened to 2.1%; the lowest result so far in 2015.

Coffs Harbour's highest rental vacancy rate this year was 3.2% in February.

Topics:  coffs harbour home owners property real estate rp data



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