Over the last year, property investments in West Wollongong, 2500 have given investors a capital gain of 15.66%. This compares favourably with the 10.13% for NSW as a whole.
While West Wollongong,2500 ranked number 204th in NSW for increase in median house value (annualised) increase, it is ranked 525th over the last 5 years.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in West Wollongong, 2500. Typically our figures indicate that -4.17% is being offered, which puts this NSW suburb at 2916th most discounted overall in Australia.
In the last year 52 properties changed hands in West Wollongong, which puts it as the 632th most active market in NSW when comparing the number of sales per suburb.
Advertised rents are around the $520 mark per week – giving a return of 3.76% based on the median price in Suburb
West Wollongong has had a A very good year for property investment returns compared to the rest of NSW, giving investors a capital gain of 26.19% to date .
Taking the average capital gain, or increase in median house value, West Wollongong,2500 has racked up an average of 26.19% over the period. This ranks it number 513th in the whole country for real estate investors looking at median house price increases.
Our latest figures would indicate that property sellers in West Wollongong are currently offering property investors an average price cut of -4.41% below the asking price at the moment.
The NSW suburb of West Wollongong, 2500 is in the Wollongong local government area.
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