Coffs Harbour

[Intreegd]

Hi all,

I'm new to the forums so please be gentle.

I'm looking to buy an investment property in Coffs Harbour in NSW for no other reason than I would eventually like to live there.

I have around 400k equity in my Sydney home and will turn this into an IP when I move to Coffs

Does anyone have any advice on which areas are good, and which are not so good. My limited research so far seems to say that South Coffs/Boambee/Toormina is probably not so good.

Any advice would be welcome

Thanks in advance

 

[j_p]

I'm not familiar with Coffs, seemed nice and the weather has been brilliant the two times I've been there.

Considerations for an IP and PPoR are different. As "eventually" can be a long time are you looking at this from an investment perspective or purely as a PPoR?? I think that's your starting point.

 

[nww]

Ive been watching coffs for many years , also like the area but find it hard
to find anything positive of near neutral, but if you prepared for negative geared
and find a nice area for your future retirement I think I would want close to the jetty.

Have had some properties in my watch list for years with no price movement over that time.
Rents have only slightly increased but outgoings certainly have making them more negative geared.

 

[Harro]

Hi all,

I'm new to the forums so please be gentle.

I'm looking to buy an investment property in Coffs Harbour in NSW for no other reason than I would eventually like to live there.

I have around 400k equity in my Sydney home and will turn this into an IP when I move to Coffs

Does anyone have any advice on which areas are good, and which are not so good. My limited research so far seems to say that South Coffs/Boambee/Toormina is probably not so good.

Any advice would be welcome

Thanks in advance

If you are looking to move to the area and rent out your current PPOR in Sydney I would consider areas such as Sawtell, Sandy Beach or even Red Rock. Coffs itself can be quite busy, but if you are used to Sydney traffic that mightn't be too much of a concern.

 

[Coast]

Coffs Hbr

In reply: Please note I am not qualified to advise and this is only my opinion as a long term resident of the general north coast strip. Do your own research, but research in Sapphire Beach or Middle Boambee rural or Bonville rural. They are more expensive than the other suburbs, but the market is showing you the direction-or locality to aim for.

 

[vjv]

I have a IP property in coffs Harbour (Hampshire Close). Past 5 years property growth is very very slow. Personally I prefer capital cities

 

[Harro]

I have a IP property in coffs Harbour (Hampshire Close). Past 5 years property growth is very very slow. Personally I prefer capital cities

We have 2 IP's in the region. 1 in Sawtell, the other in Urunga. Rent has been rising slowly, and have been blessed with long term tenants in both, who actually pay their rent.
But capital gains, what are they? Market has been stagnant for years.