Where house prices have increased by 85.1%
THE Coffs Coast property market continues to go from strength to strength, with house prices in some suburbs rising by almost 30 per cent in the past 12 months.
In fact 17 suburbs in the Coffs, Bellingen and Nambucca council areas experienced double-digit annual median price growth in the CoreLogic Market Trends report for January 2018. Bowraville recorded the strong growth across all three council areas with a staggering rise in prices of 28.9 per cent in the past 12 months and 85.1% growth over five years. The median house price in the town is a very affordable $274,000.
The Nambucca area has a number of major growth hotspots according to the report.
House prices in Hyland Park increased by 24.5 per cent in the past 12 months and 43.4 per cent in five years, while Newee Creek recorded an annual rise of 24.1 per cent.
Valla takes the title of having the Nambucca Shire's highest median house price at $580,000, Valla Beach comes a close second at $520,000 and Newee Creek was third at $517,000
Sapphire Beach was the star performer in the Coffs Harbour area. Median house prices have increased there by 19.1 per cent in the past 12 months and the suburb also recorded the region's highest median house price of $729,450. Unit prices in Sapphire Beach increased by 19.3 per cent to a median price of $288,500.
Woolgoolga's median house prices continue a steady rise, up 15.9 per cent in the past 12 months, and 45.7 per cent over five years.
Safety Beach recorded the fourth highest rise in prices at 14.7 per cent.
Moonee Beach houses had the second highest median price behind Sapphire at $720,000, followed by Boambee at $672,000.
The region's highest median prices however belong to the Bellingen Shire.
Median house prices in Gleniffer are an eye-watering $1,070,000. Bellingen's second highest median prices were for houses in Repton at $664,000 - a rise of 25.3 per cent -followed by Raleigh on $615,000.
While the news is good for those who already own, it can be disheartening for those aren't. However there are still plenty of suburbs with affordable prices.
Many of the lowest median prices are for units. The median price for a unit in Nambucca Heads is $265,000, in Toormina the median unit price is $285,000 and in the Bellingen Shire, units in Urunga have a median price of $290,000. The cheapest house price across the region was Bowraville's $274,000, followed by Dorrigo at $308,000 while North Mackville and Misabotti are on $330,000.