Bank Of Queensland survey figures suggest the Toormina property market has some of the best prospects for Mid-North Coast investors.
Bank Of Queensland survey figures suggest the Toormina property market has some of the best prospects for Mid-North Coast investors. David Nielsen

BOQ survey suggests Toormina is potential property hot spot

TOORMINA has the potential to be one of the Mid-North Coast's main suburbs of interest for investors in the property market according to Bank Of Queensland's Spring Buyer's Guide.

The Guide - powered by RP Data - has revealed the combination of Toormina's low median unit price and relatively strong rental yield could make it a suburb to watch for property investors in the region.

Toormina's median unit price sits, on average, at $233,455 and its rental yield sits at an average of 6.2 per cent, above the New South Wales average rental yield of 5.5 per cent and above the Mid-North Coast's average of 5.7 percent.

BOQ Coffs Harbour branch manager Sharyn Potter said the figures were good for those thinking of investing in the region.

"For those looking to purchase a property, Toormina is an area they might want to take a closer look at," she said.

"Property investors in particular tend to pay close attention to both the value of the property over time and the rental yield.

"In Toormina the low unit prices and high rental yield means the potential of a solid return on investment and a way to boost your property portfolio.

"Obviously when you're looking for a capital gain it's a long-term play that requires some patience.

"But the great thing about a strong yield is that the benefits start flowing straight away through rental payments."

Mrs Potter said it was important for both owner-occupiers and investors to do their homework before entering the market.

"If you're armed with the right information not only are you more likely to get the right property at the right price, but you'll also find the process of buying a property far less frustrating," she added.

"Whether you're buying your own home, investing or even re-financing, understanding the market is absolutely critical."

 

UNITS

Highest median value

Sapphire Beach $368,472

Korora $336,174

Yamba $324,461

Sawtell $308,183

North Haven $301,539

 

Lowest median value

Taree $169,346

Grafton $214,525

Toormina $233,455

Nambucca Heads $234,989

Old Bar $238,762

 

Strongest rental yield

Harrington 6.8%

Grafton 6.5%

Toormina 6.2%

Taree 6.2%

Coffs Harbour 6.2%

 

Least days on the market

Sawtell 68

Port Macquarie 84

North Haven 93

Grafton 95

Coffs Harbour 96

 

Biggest vendor discount

Korora -7.7%

Grafton -7.5%

South West Rocks -7.4%

Woolgoolga -6.3%

Yamba -6.3%

 

Largest Sales volume (last 12 months)

Port Macquarie 503

Coffs Harbour 312

Yamba 69

Taree 69

Sawtell 36

 

HOUSES

Highest median value

Sapphire Beach $617,670

Black Head $585,265

Bonville $583,011

Sancrox $566,447

King Creek $550,483

 

Lowest median value

South Kempsey $184,131

Bowraville $196,009

South Grafton $211,596

West Kempsey $213,051

Kempsey $221,601

 

Strongest rental yield

Smithtown 12.2%

South Kempsey 10.7%

Cundletown 9.1%

Korora 7.5%

North Haven 7.4%

 

Least days on the market

Moonee Beach 66

Coramba 76

Port Macquarie 77

West Haven 78

Boambee East 79

 

Biggest vendor discount

Waterview Heights -12.3%

Diamond Beach -10.8%

Glenreagh -10.5%

Tallwoods Village -9.6%

Maclean -9.2%

 

Largest sales volume (last 12 months)

Port Macquarie 868

Coffs Harbour 337

Taree 333

Grafton 177

Wauchope 136