Coffs Harbour construction ramping up: Herron Todd White

The apartment market in Coffs Harbour has turned around, with dwelling construction ramping up and key suburbs seeing considerable new unit development, according to Herron Todd White.

Herron Todd White's September Month in Review found popular beach and harbourside suburbs around Coffs Harbour typically have prices ranging from $350,000 to in excess of $1 million, with average prices around $450,000 to $700,000.

"The high end of the market of $700,000 plus does see sales dramatically reduce due to limited local demand for this price range," the report noted.

"These units are generally purchased by high net wealth individuals with long selling periods required to attract potential purchasers. 

"Several modern townhouse complexes have been constructed which generally provide three bedroom, one or two bathroom accommodation in complexes of five to ten units ranging in price from $350,000 to $400,000. The majority of purchasers have been investors with rental returns of $360 to $400 per week being achieved."