Suburb Profile Report for West Wollongong NSW (2500)

West Wollongong House: Median price $720,000, Annual capital growth 7.41%, Number of sales 50, Weekly median advertised rent $520

West Wollongong Unit: Median price $506,000, Annual capital growth 11.82%, Number of sales 38, Weekly median advertised rent $360

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

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.

Information supplied by:


June 2017

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Tucked away in the innermost western corner of Wollongong City, the suburb of West Wollongong is a perpetually popular dwelling.Full summary

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
Metrics i HOUSE UNIT
$720,000 $506,000
7.14% -4.53%
17.55% 19.06%
7.41% 11.82%
$520 $360
50 38
3.76% 3.70%
33.54 34.54

Source: CoreLogic

DSR Score for property investment : Above average (U), Balanced (H)
Find a mortgage broker in West Wollongong NSW
Demographics
Total population 4447
Median household income ($/weekly) 1068
Median age of persons 35
Median housing loan repayment ($/monthly) 1928
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 568 12.8
    25-34 years 644 14.5
    35-44 years 617 13.9
    45-54 years 552 12.4
    55-64 years 437 9.8
    Others 1630 36.6
    Age Group
    Census Count Percent(%)
    Registered Married 1608 49.1
    Not Married 1421 43.4
    Defacto Relationship 246 7.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 3132 74.8
    Croatia 109 2.6
    Egypt 52 1.2
    United Kingdom 195 4.7
    Other 226 5.4
    Others 474 11.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 69 1.7
    Christianity 3013 73.8
    Hinduism 34 0.8
    Islam 109 2.7
    No Religion 838 20.5
    Others 19 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 183 11.7
    $600-$799 161 10.3
    $1,000-$1,249 143 9.1
    $1,500-$1,999 179 11.5
    $2,000-$2,499 153 9.8
    Others 744 47.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1327 39.5
    Employed, worked full-time 1166 34.7
    Employed, worked part-time 635 18.9
    Unemployed, looking for work 136 4.0
    Employed, away from work 98 2.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 199 10.5
    Professionals 519 27.4
    Technicians & trades workers 294 15.5
    Community & personal service workers 213 11.2
    Clerical & administrative workers 278 14.7
    Others 394 20.8
    Occupation
    Census Count Percent(%)
    Pre-school 104 8.3
    Infants/Primary 385 30.8
    Secondary 214 17.1
    Technical or Further Educational Institution 137 11.0
    University or other Tertiary Institutions 380 30.4
    Others 31 2.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3215 76.6
    Semi-detached, row or terrace house, townhouse 582 13.9
    Flat, unit or apartment 383 9.1
    House or flat attached to a shop, office 18 0.4
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 590 35.3
    Being purchased 540 32.3
    Rented 538 32.2
    Other tenure type 5 0.3
    Tenure Type
Census 2011, ABS
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