The Niva Property team embarked on a research trip to Lennox Head recently, uncovering some amazing properties, investment opportunities and locations.
With the adoption of remote working, a greater focus on affordability and the desire of many to improve their lifestyle, the NSW north coast has something for everyone, regardless of whether you are an investor or a tree/sea-changer.
Here are some highlights and key facts from our research and reconnaissance. As you will see there are lots of great locations to choose from, each with their own benefits and attractions depending on your scenario.
Port Macquarie
I’ve always loved Port Macquarie; it has a laid-back feel, beautiful waterways and beaches, and lots of job opportunities. Property-wise there is lots to choose from – the high-end manicured properties on large blocks on the edges of the Hastings River to the north-east of the CBD, new boutique units opposite Town Beach, and older more established houses opposite the likes of Shelly Beach to Lighthouse Beach in the south.
New subdivisions to the west of the CBD are also being built with plenty of options for people looking for house/land packages only 10 minutes from the CBD.
There are still some great opportunities for investors looking to add significant value, with some great established houses on large blocks close to the CBD and within minutes of the Town Beach.
The Health industry sector dominates the employment figures. Essential Energy and a major Defence and Maritime company – Birdon Group – also call Port Macquarie home. Birdon recently won a Contract with the US Navy worth over $1B. Lots of great local Projects taking place and you can read more here https://www.pmhc.nsw.gov.au/Your-Council/Our-projects
Key facts:
| Population | Port Macquarie the suburb - 47,493
(Part of the Port Macquarie – Hastings SA3 region whose population is 86,762) |
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| House Median | $865,000 | Avg Weekly Household Income | $1,282 |
| House Yield | 3.5% | Family Household | 65% |
| House Vacancy | 0.9% | Property Type House | 66% |
| Unit Median | $550,000 | Property Type Unit/Townhouse/Villa/other | 34% |
| Unit Yield | 4.3% | Nearest Airport | Port Macquarie; flights to Sydney, Brisbane, Canberra |
| Unit Vacancy | 0.9% | Nearest Train Station | Wauchope (20 minute drive) to NSW Country Link North Coast line – access to Sydney and Brisbane |
Woolgoolga
I hadn’t been to Woolgoolga before but for me this is a left-field yet prime spot I’d consider as a long-term investment or even to live myself. Just 20 minutes north of beautiful Coffs Harbour, the main Woolgoolga town centre is in the process of gentrification and the town centre is bustling with great cafes, restaurants and shops, well positioned with easy access to a very safe and beautiful main beach, amazing kids playground and a brand new surf club.
There is also a very unique and pleasant feel to the town, being home to a significant Indian population. Little known to many, Woolgoolga is home to one the early chapters of Indian migration to Australia.
Property wise, the Woolgoolga headland is boasting some amazing properties with quite a few currently under construction, some offering 180 degree views north and south of the headland. This property is a great opportunity for a savvy investor looking to add value – 535m2, R3 zoned offering potential to build 2 townhouses STCA with amazing water views and only minutes walk to town and both of Woolgoolga’s main beaches. New subdivisions are also underway closer to the freeway, only 10 minutes from the CBD.
The $2.2 Billion Coffs Harbour Bypass project, expected to be complete in 2027 is a major project in the region bringing many more job opportunities to the ever popular and well-performing Coffs Harbour regional market.
Key facts:
| Population | Woolgoolga the suburb – 6,151
(Part of the Coffs Harbour SA3 region whose population is 92,462) |
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| House Median | $914,000 | Avg Weekly Household Income | $1,190 |
| House Yield | 3.6% | Family Household | 62% |
| House Vacancy | 1.4% | Property Type House | 82% |
| Unit Median | $630,000 | Property Type Unit/Townhouse/Villa/other | 18% |
| Unit Yield | 3.6% | Nearest Airport | Coffs Harbour; flights to Sydney, Brisbane, Melbourne |
| Unit Vacancy | 1.4% | Nearest Train Station | Coffs Harbour (20 minute drive) to NSW Country Link North Coast line – access to Sydney and Brisbane |
Sawtell
The south side of Coffs Harbour is another gem – Sawtell.
On the NSW Country Link north coast rail line, Sawtell has a very natural beachside landscape which means that very few houses have water views. This is very refreshing and this means that the natural beauty and serenity of the beach and amazing headland is retained and feels somewhat pristine, and available for everyone to experience.
Gentrification is yet to fully take shape at Sawtell but it still has a great vibe, nice shops and a very relaxed feel.
This property is an example of a great boutique investment/development opportunity albeit with a pricetag to match. 2 separate properties on one block, 5 bedroom, 620m2, dual frontages, minutes walk to the beach, local school, shops and Train station.
The $2.2 Billion Coffs Harbour Bypass project, expected to be complete in 2027 is a major project in the region bringing many more job opportunities to the ever popular and well-performing Coffs Harbour regional market.
Key facts:
| Population | Sawtell the suburb – 3,788
(Part of the Coffs Harbour SA3 region whose population is 92,462) |
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| House Median | $1M | Avg Weekly Household Income | $1,405 |
| House Yield | 2.3% | Family Household | 65% |
| House Vacancy | 1.4% | Property Type House | 69% |
| Unit Median | $663,000 | Property Type Unit/Townhouse/Villa/other | 31% |
| Unit Yield | 3.9% | Nearest Airport | 10 minutes to Coffs Harbour airport; flights to Sydney, Brisbane, Melbourne |
| Unit Vacancy | 1.4% | Nearest Train Station | Sawtell - NSW Country Link North Coast line – access to Sydney and Brisbane |
Lennox Head
Our trip ended in Lennox Head, touted by many as the “next Byron Bay”. Only 16km south of Byron, Lennox shares many similarities albeit on a smaller and less developed scale.
In addition to the major streetscaping works in the main town, there is a lot going on in the property market in the way of rebuilds, renovations and new land subdivisions. To the south of Lennox and a few minutes south to Skennars Head (where a major new development Aureus is well underway) it is hard not to get a kinked neck from new subdivision developments!
Like many of the coastal suburbs up the coast, the headland is spectacular and the town has nice cafes and restaurants. Yields are fairly low for investors so I recommend this is more suited to the tree changers (with deeper pockets), or those looking for a short-term rental investment.
Key facts:
| Population | Lennox Head the suburb – 7,687
(Part of the Richmond Valley - Coastal SA3 region whose population is 87,772) |
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| House Median | $1.5M | Avg Weekly Household Income | $2,081 |
| House Yield | 2.5% | Family Household | 76% |
| House Vacancy | 0.7% | Property Type House | 73% |
| Unit Median | $1M | Property Type Unit/Townhouse/Villa/other | 27% |
| Unit Yield | 2.5% | Nearest Airport | 15 minutes to Ballina airport; flights to Sydney, Newcastle, Dubbo, Melbourne, Canberra |
| Unit Vacancy | 0.7% | Nearest Train Station | Lennox Head - NSW Country Link North Coast line – access to Sydney and Brisbane |
