Land values in the Coffs Harbour local government area
North Coast region
General overview
There was a moderate increase in land values in the Coffs Harbour local government area between 2017 and 2018. This trend was consistent across most classes of property in the residential, rural and industrial market sectors whilst commercial land values have shown a slight increase over the period.
The sustained levels of demand which have existed throughout the year for most classes of property have characterised local real estate market conditions and are the primary driver underpinning land value increases.
Recent major infrastructure works including the Jetty Foreshores re-development, re-construction of the northern harbour breakwall, refurbishment and expansion of the Coffs Central and Park Beach Plaza shopping centres, planned extensions to the Coffs Harbour Base Hospital, and upgrades to the Coffs Harbour Airport and International Stadium, have further supported the positive market environment.
Additionally, the recent completion of Pacific Highway Upgrades between Coffs Harbour and the major regional centre of Port Macquarie, now completes divided dual carriage motorway conditions south to Sydney. This has significantly reduced travel times, improved road safety and enhanced the general accessibility of the region.
Land value trends
| Property zone | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Residential | $6,326,519,340 | $6,816,898,620 | 7.8% |
| Commercial | $408,972,500 | $417,917,700 | 2.2% |
| Industrial | $295,247,730 | $321,381,380 | 8.9% |
| Rural | $1,054,048,550 | $1,109,139,210 | 5.2% |
| Other | $197,592,951 | $204,030,101 | 3.3% |
| Total | $8,282,381,071 | $8,869,367,011 | 7.1% |
Number of properties by zone
Total number of properties: 28,082
Residential land values
Residential overview
There has been a moderate increase in residential land values across most localities within the Coffs Harbour local government area between 2017 and 2018. This trend is largely attributable to continued high demand for good quality vacant residential allotments in new estate releases in the North Bonville, North Boambee, Sapphire Beach, North Sapphire, Emerald Beach, Sandy Beach and Woolgoolga localities. These positive market conditions have also extended into the more established residential localities across the local government area where consistent levels of demand have supported moderate land value increases.
Land values of prime residential property at Sawtell, generally situated east of First Avenue, have remained steady over the 2017 to 2018 period, following consecutive strong land value increases over the preceding two years.
Land values for rural residential holdings in localities west of the coastal range, including the Orara Valley, have remained steady as a result of more subdued levels of demand for smaller rural-residential parcels in localities typically dominated by larger rural holdings.
Median land values and sale prices
The above chart shows movement in the property market and land values over a five year period. In areas where there are a low number of sales, median sale prices may not accurately reflect the property market. Land values may not always move directly in line with sale prices due to the influence of other factors, such as building costs.
Typical residential land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Arrawarra Rd, Arrawarra Headland | $290,000 | $320,000 | 10.3% |
| Mcrae Cl, Boambee | $350,000 | $380,000 | 8.6% |
| View Dr, Boambee East | $195,000 | $200,000 | 2.6% |
| Braford Dr, Bonville | $390,000 | $410,000 | 5.1% |
| Fig Cl, Bonville | $310,000 | $330,000 | 6.5% |
| Williams Rd, Bonville | $440,000 | $480,000 | 9.1% |
| Beryl St, Coffs Harbour | $180,000 | $190,000 | 5.6% |
| Bonville St, Coffs Harbour | $290,000 | $315,000 | 8.6% |
| Boultwood St, Coffs Harbour | $300,000 | $350,000 | 16.7% |
| Brodie Dr, Coffs Harbour | $280,000 | $315,000 | 12.5% |
| Cutter Dr, Coffs Harbour | $365,000 | $375,000 | 2.7% |
| Edinburgh St, Coffs Harbour | $620,000 | $680,000 | 9.7% |
| Grafton St, Coffs Harbour | $620,000 | $650,000 | 4.8% |
| Harbour Dr, Coffs Harbour | $250,000 | $280,000 | 12.0% |
| Harbour Dr, Coffs Harbour | $590,000 | $590,000 | 0.0% |
| Moore St, Coffs Harbour | $550,000 | $600,000 | 9.1% |
| Nambucca Ave, Coffs Harbour | $220,000 | $245,000 | 11.4% |
| Ocean Pde, Coffs Harbour | $510,000 | $600,000 | 17.7% |
| Reid Dr, Coffs Harbour | $185,000 | $210,000 | 13.5% |
| San Francisco Ave, Coffs Harbour | $250,000 | $275,000 | 10.0% |
| Shephards Lane, Coffs Harbour | $950,000 | $950,000 | 0.0% |
| West High St, Coffs Harbour | $240,000 | $260,000 | 8.3% |
| Thrower Ave, Coramba | $155,000 | $160,000 | 3.2% |
| Eileen Dr, Corindi Beach | $190,000 | $220,000 | 15.8% |
| Capizzi Cl, Emerald Beach | $245,000 | $275,000 | 12.2% |
| Flagstaff Ave, Emerald Beach | $390,000 | $410,000 | 5.1% |
| Lights St, Emerald Beach | $230,000 | $265,000 | 15.2% |
| Norman Hill Dr, Korora | $250,000 | $285,000 | 14.0% |
| Old Coast Rd, Korora | $335,000 | $360,000 | 7.5% |
| Pacific Hwy, Korora | $25,000 | $25,000 | 0.0% |
| Trevally St, Korora | $310,000 | $335,000 | 8.1% |
| Heritage Dr, Moonee Beach | $310,000 | $350,000 | 12.9% |
| Sullivans Rd, Moonee Beach | $700,000 | $700,000 | 0.0% |
| Tidal Cres, Moonee Beach | $270,000 | $315,000 | 16.7% |
| Nelson St, Nana Glen | $145,000 | $160,000 | 10.3% |
| Thoroughbred Cl, Nana Glen | $250,000 | $250,000 | 0.0% |
| Myall Cl, North Boambee Valley | $240,000 | $265,000 | 10.4% |
| Quay Cres, Safety Beach | $240,000 | $265,000 | 10.4% |
| Blackbutt Ave, Sandy Beach | $165,000 | $190,000 | 15.2% |
| Chestnut Ave, Sandy Beach | $235,000 | $270,000 | 14.9% |
| Bare Bluff Cl, Sapphire Beach | $270,000 | $300,000 | 11.1% |
| Serene Ct, Sapphire Beach | $295,000 | $330,000 | 11.9% |
| Boronia St, Sawtell | $750,000 | $780,000 | 4.0% |
| Dirrigeree Cres, Sawtell | $260,000 | $270,000 | 3.9% |
| Eighteenth Ave, Sawtell | $775,000 | $775,000 | 0.0% |
| Thirteenth Ave, Sawtell | $390,000 | $405,000 | 3.9% |
| Durie Cl, Toormina | $120,000 | $135,000 | 12.5% |
| Hutchinson St, Ulong | $47,000 | $50,000 | 6.4% |
| Barnes St, Woolgoolga | $200,000 | $220,000 | 10.0% |
| Nelson St, Woolgoolga | $470,000 | $500,000 | 6.4% |
| Pacific St, Woolgoolga | $370,000 | $425,000 | 14.9% |
| River St, Woolgoolga | $243,000 | $243,000 | 0.0% |
| Shearer Dr, Woolgoolga | $240,000 | $270,000 | 12.5% |
Commercial land values
Commercial overview
Commercial property land values within the Coffs Harbour local government area have generally remained steady over the 2017 to 2018 period as demand for a limited supply of available property stabilised throughout the year.
Land values in the Coffs Harbour central business area have increased slightly in line with rental growth, despite a slight increase in overall vacancy rates. The refurbishment and expansion of the Coffs Central Shopping Centre and recent investments by council in the central business area streetscape upgrades have supported this increase.
Typical commercial land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Gerard Dr, Coffs Harbour | $850,000 | $850,000 | 0.0% |
| Pacific Hwy, Coffs Harbour | $368,000 | $404,000 | 9.8% |
| Scarba St, Coffs Harbour | $603,000 | $610,000 | 1.2% |
| Tolhurst Pl, Coffs Harbour | $1,020,000 | $1,020,000 | 0.0% |
| Walter Morris Cl, Coffs Harbour | $360,000 | $360,000 | 0.0% |
| Fiddaman Rd, Emerald Beach | $320,000 | $343,000 | 7.2% |
| Moonee Beach Rd, Moonee Beach | $870,000 | $870,000 | 0.0% |
| Pacific Hwy, North Boambee Valley | $690,000 | $730,000 | 5.8% |
| First Ave, Sawtell | $495,000 | $495,000 | 0.0% |
| Minorca Pl, Toormina | $290,000 | $290,000 | 0.0% |
| Beach St, Woolgoolga | $433,000 | $433,000 | 0.0% |
| Solitary Islands Way, Woolgoolga | $270,000 | $270,000 | 0.0% |
Industrial land values
Industrial overview
Industrial land values throughout the Coffs Harbour local government area increased moderately over the 2017 to 2018 period. Sustained demand for a decreasing supply of available property, particularly well located vacant land parcels suitable for development, was the main factor driving value level increases.
The only notable exception to this trend was the small area of industrial zoned land centred on the waste recovery and materials recycling facility south of Coffs Harbour. Continued uncertainty regarding the extent of potential land acquisitions required for the future Pacific Highway Coffs Harbour by-pass in this locality, has resulted in value levels remaining steady.
Typical industrial land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Cook Dr, Coffs Harbour | $370,000 | $425,000 | 14.9% |
| June St, Coffs Harbour | $295,000 | $335,000 | 13.6% |
| Lawson Cres, Coffs Harbour | $370,000 | $405,000 | 9.5% |
| Marina Dr, Coffs Harbour | $365,000 | $390,000 | 6.9% |
| Englands Rd, North Boambee Valley | $1,740,000 | $1,750,000 | 0.6% |
| Isles Dr, North Boambee Valley | $535,000 | $565,000 | 5.6% |
| Craft Cl, Toormina | $355,000 | $400,000 | 12.7% |
| Featherstone Dr, Woolgoolga | $295,000 | $320,000 | 8.5% |
Rural land values
Rural overview
The rural land market within the Coffs Harbour local government area has shown a moderate increase in value levels over the period 2017 to 2018. Land value increases have been reasonably consistent across all classes of rural property, although rural holdings situated in coastal plain localities close to established urban area amenities, have generally shown slightly greater market increases than properties situated west of the coastal range, due to more consistent levels of demand.
Rural land values in the Upper Corindi locality at the northern extent of the local government area have tended to remained steady due to an plateauing of demand from horticultural producers.
Typical rural land values
| Address | 01 Jul 2017 | 01 Jul 2018 | % change |
|---|---|---|---|
| Bonville Station Rd, Bonville | $320,000 | $350,000 | 9.4% |
| Forbes Cl, Bonville | $550,000 | $580,000 | 5.5% |
| Kirtons Rd, Brooklana | $155,000 | $160,000 | 3.2% |
| Bennetts Rd, Coffs Harbour | $390,000 | $420,000 | 7.7% |
| Orara Way, Coramba | $230,000 | $240,000 | 4.4% |
| Pacific Hwy, Corindi Beach | $220,000 | $245,000 | 11.4% |
| Kathleen Dr, Dirty Creek | $110,000 | $110,000 | 0.0% |
| Gundarene Rd, Lowanna | $85,000 | $95,000 | 11.8% |
| Lowanna Rd, Lowanna | $307,000 | $315,000 | 2.6% |
| Orara Way, Nana Glen | $370,000 | $380,000 | 2.7% |
| Orara Way, Nana Glen | $475,000 | $480,000 | 1.1% |
| Holloways Rd, Sandy Beach | $320,000 | $350,000 | 9.4% |
| Gaudrons Rd, Sapphire Beach | $410,000 | $450,000 | 9.8% |
| Duffus Rd, Upper Corindi | $357,000 | $357,000 | 0.0% |
Added value of improvement tables
The added value of improvement tables show dollar values per square metre for the added value of improvements for the main residential property types in a local government area. It is the value the improvements add to the value of the land as demonstrated by the analysis of property sales.