Suburb Profile Report for West Wollongong NSW (2500)

West Wollongong House: Median price $735,000, Annual capital growth 7.79%, Number of sales 50, Weekly median advertised rent $525

West Wollongong Unit: Median price $475,592, Annual capital growth 10.87%, Number of sales 36, Weekly median advertised rent $360

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Over the last year, property investments in West Wollongong, 2500 have given investors a capital gain of 18.55%. This compares favourably with the 11.06% for NSW as a whole.

If we look at median property appreciation over just the last three months, West Wollongong has given property investors a paper return of 10.53%. This puts Suburb as 85 on a list of fastest fasting appreciating suburbs in NSW

LACK OF BUYER INTEREST may well be the reason that West Wollongong is offering property investors an average of -5.22. This rate of discount on properties puts Suburb at number 722th in terms of most discounted suburbs in NSW

In the last year 50 properties changed hands in West Wollongong, which puts it as the 658th most active market in NSW when comparing the number of sales per suburb.

Using the current median advertised rental of $525 and the average annual increase in value of a median property of 7.79%, investors should hope to achieve an overall return of 3.71%

Over the last year, property investments in West Wollongong, 2500 have given investors a capital gain of 9.33%. This compares averagely with the 8.63% for NSW as a whole.

Over the longer term, West Wollongong has seen property prices show investors a 13.17% return over the last 3 years. This is worse than over the last 12 months

LACK OF BUYER INTEREST may well be the reason that West Wollongong is offering property investors an average of -4.13. This rate of discount on properties puts Suburb at number 97th in terms of most discounted suburbs in NSW

Renters in Suburb are facing rents around $4320 per annum or $360 every week.

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
$735,000 $475,592
10.53% -8.19%
18.55% 9.33%
7.79% 10.87%
$525 $360
50 36
3.71% 3.94%
31.85 34.31

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
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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