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| Home » Australia » New South Wales » Wollongong Real Estate |
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Wollongong Real Estate |
Property prices in Wollongong are on a rise with the median house price continue to grow beyond the $400,000 mark. It is not only Wollongong real estate that is experiencing this booming trend. The entire Illawarra region has recorded an 8.1 per cent increase in median house price in 2010 over the previous year. The biggest rise is observed in the Austinmer-Thirroul area where the median house price now stands at a whopping $632,500, almost 12 per cent more that the price in 2009.
Despite increasing volume of residential building approvals, the real estate market in Wollongong continues to show a shortfall in the supply of housing stock. Rising prices and prospects of good capital returns and rental yields are driving investors back to the property market here and this is what causing a sudden spurt in the demand of investment and private rental properties.
The region's southern suburbs, such as Albion Park, are witnessing acute shortage as houses for sale here are picked by first home buyers as soon as they make an appearance at auctions. Rents are increasing as additional accommodation is scarce in the rental market. The median rent for the Illawarra region is reported to have reached $360 showing about 6 per cent increase over the previous year.
Wollongong Real Estate for Sale
According to latest data, the median house price in Wollongong stands at $420,000 and the median unit price at $355,000. The trends show an even steeper rise in the months to come. The average price of a house for sale in North Wollongong area is slightly more. You can buy a home here at a mean price of $430,000, but buying a unit may cost you less as the median unit price here is $353,000.
The growth in the volume of dwelling approvals is just not sufficient to fulfill the market demand as the approvals for new houses have not been cleared so far. The land for sale is also growing in price and with this affordability level is rising in Wollongong. With a 7 per cent growth in median price, you will now have to spend $238,000 for a block of land here.
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The areas in Wollongong where the demand for real estate for sale is expected to rise include North Wollongong, Coniston, Mangerton, Mount Keira, Gwyneville, Keiraville, Mount Saint Thomas and West Wollongong. The towns comprising the Illawarra region include Kiama, Bulli, Thirroul, Port Kembla, Helensburgh, Dapto, Stanwell Park, Coledale, Oak Flats, Windang, Jamberoo, Albion Park, Shellharbour, Albion Park Rail Gerringong and Wollongong. A wide range of housing options, such as apartments, villas, townhouses, units and kit homes are in demand and the industry is gearing up to fulfill the same.
Wollongong Real Estate Rentals
Wollongong real estate rentals are driving the property market in the city area. Investors are lining up to cash in on the tightening rental market against the continuously growing demand from university students and local tenants. Rents have grown significantly over the past two years and they are likely to increase more as there is no sigh of a stronger supply side in the coming months.
The properties lying around the CBD shuttle route are popular among investors and thus these command a high price. Students prefer to rent an apartment on the shuttle route as it is easy for them to commute to and from the University of Wollongong. Mostly the properties under $450,000 are hunted but the properties around $300,000 with potential of good rental yields also sell.
Wollongong Real Estate Accommodation
Wollongong is known worldwide for the University where students from across the world come to study. The house rental market provides options to fulfill their accommodation requirements in the city. They can either choose an apartment for rent or look for share accommodation within areas close to the University.
Besides students, the city of Wollongong receives a large number of tourists and visitors also. They can find a diverse range of accommodation solutions here. There are cheap houses, budget homes and one bedroom studio apartments on the one hand while on the other hand there are holiday homes, serviced apartments and 5 star accommodations.
The market has solutions for your every requirement and hence you can find here caravan parks, camping sites, cottages, family cabins, resorts, holiday rentals and many more. Salt Apartments, Quest, Medina, Park Street, Smith Street and Belmore are some of the leading providers of accommodation apartments here. Wotif and Stayz are online listing services that list accommodation solutions under various categories, such as romantic, golf club, beach and specials.
Wollongong Real Estate Agents
Wollongong Real Estate Agents are an expert of local property market. They are a guide who helps homebuyers and investors in locating as well as buying a property of their choice. They also help homeowners sell their properties quickly and at good market rate. The seekers of rental homes can also approach a real estate agent to get a listing of rental properties within their locality.
It is advisable here to check the licence of a real estate agent or agency and get an acquaintance with their past track record before taking a decision in their favor. We are providing you a list of Wollongong real estate agents and agencies here.
Davids Real Estate
41 Market Street
Wollongong
Phone 02 4220 0800
Rental 02 4220 0888
Fax 02 4220 0822
City Beach Properties
Fairways 2, Level 1
Unit 40/12 Bank Street
Wollongong
Phone 02 4228 8400
Rental 02 42288400
Fax 02 4228 8499
Mobile 0407 223 688
Dougmal Wollongong Property Management
121 Keira Street
Wollongong
Phone 02 4229 8244
Rental 02 4229 8244
Fax 02 4229 5593
Elders
353 CROWN STREET
Wollongong
Phone 02 4228 7878
Fax 02 4228 7676
Ray White
69 Kembla Street
Wollongong
Phone 02 4229 8600
Rental 02 4229 8600
Fax
Scholtens Property
Level 2/65 Market Street
Wollongong
Phone 02 4225 7010
Rental 02 4225 7010
Fax 02 4229 1995
Mobile 0418 689 609
Fanning Real Estate
306 Crown Street
Wollongong NSW 2500
Phone: 02 4228 2555
Fax: 02 4228 9442
Email: sales@fanning.com.au
Dominion Property
172 - 174 Keira St
Wollongong NSW 2500
Ph: +612 4220 0500
Fax: +612 4220 0599
Living Property
Suite 12 / 104 Crown St,
Wollongong
Ph: 02 42 28 6800 Fax: 02 42 28 6822
Email: info@livingproperty.com.au
Hotondo Homes
33 Ellen St,
Wollongong, NSW, 2500
Phone: (02) 4225 1555
Barrington Homes
36 Stewart Street
Wollongong, NSW 2520
Phone: (02) 4228 3331
Fax: (02) 4228 3332
Email: info@barringtonhomes.com.au
Salt Serviced Apartments
5-7 Stewart Street
Wollongong NSW 2500
Telephone (02) 4229 6866
Facsimile (02) 4229 6877
Quest Serviced Apartments
59-61 Kembla Street
Wollongong New South Wales 2500
Ph: +61 (0)2 4221 1500
Fax: +61 (0)2 4221 1599
Email: questwollongong@questapartments.com.au
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| Townhouse for Sale | Check the detailed listings of townhouse for sale in Wollongong and Illawarra region here..
Website:http://www.myhome.com.au/ |
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| Villas for Sale | Check here the comprehensive listing of Villas for sale in Wollongong. Also find here a list of real estate agencies operating in the region..
Website: http://www.domain.com.au/ |
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| Units for Sale | Find here hundreds of apartments and units for sale in Wollongong and Illawarra. The agency also deals in a number of other housing solutions..
Website:http://www.cracker.com.au/ |
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