Giving property investors a a solid capital gain of 17.55% for the last year, West Wollongong, 2500 is the 569th highest performer in Australia in this respect.
Over the longer term, West Wollongong has seen property prices show investors a 50.79% return over the last 3 years. This is worse than over the last 12 months
Our latest figures would indicate that property sellers in West Wollongong are currently offering property investors an average price cut of -4.56% below the asking price at the moment.
With the median price for a house in West Wollongong being $720000 and the advertised rent reaching $520 the gross rental yield for property investors calculates out to be 3.76%
Property investors who have had real estate in West Wollongong, 2500 should be pleased with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 19.06%
Taking the average capital gain, or increase in median house value, West Wollongong,2500 has racked up an average of 19.06% over the period. This ranks it number 698th in the whole country for real estate investors looking at median house price increases.
Property investors looking for a bargain in West Wollongong should be aiming for at least -5.00% off the asking price, which is the average vendor discount being achieved at the moment.
On average over the past year, suburb has had 3.17 sales per month, which equates to 38 per year.
Tucked away in the innermost western corner of Wollongong City, the suburb of West Wollongong is a perpetually popular dwelling.Full summary
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Popularity keeps apartment demand strong
Median unit price: $455,000
Three-year growth: 46.77%
Rental yield: 4.00%
Tucked away in the innermost western corner of Wollongong City, the suburb of West Wollongong is a perpetually popular dwelling.
The suburb recorded nearly 23% growth in the past year, in line with a very strong positive growth trend over the past five years. Average annual growth in the unit market is at a high 8.26%, indicating that this suburb’s demand shows no signs of slowing down.
Buyers are drawn to West Wollongong’s excellent location in the city, as well as its proximity to many amenities. The University of Wollongong is just a stone’s throw away, and the suburb itself is the site of a well-stocked commercial strip.
Thus, it’s easy to see how vendors are able to sell apartments at just slightly under the listing price, with the average discount rate coming in at only 2.74%. Close