If you compare the increase in value of investment property in Wollongong, 2500 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this NSW suburb was 14.98%.
When looking at the potential capital gains offered to property investors over the last 3 years, Wollongong comes in at number 288th in NSW.
Sellers are offering property buyers an average discount of -3.54% to buyers in Wollongong at the moment, which is less than average for the rest of NSW.
Often selling an investment property can take time, and in Wollongong the average time real estate has been on the market is 44.92 days.
With the median price for a house in Wollongong being $756000 and the advertised rent reaching $500 the gross rental yield for property investors calculates out to be 3.44%
Wollongong is an average performer in NSW when comparing median price capital growth over the last year. Wollongong gave property investors a good capital gain figure when compared to the rest of the state, with 8.79%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Wollongong has increased when compared to the 5 year average annual rate.
Our latest figures would indicate that property sellers in Wollongong are currently offering property investors an average price cut of -3.44% below the asking price at the moment.
At number 148 in a list of fastest selling suburbs, Wollongong is in the TOP 10% of suburbs in Australia with an average of days on market 44.29 for properties listed there.
Advertised rents are around the $400 mark per week – giving a return of 4.20% based on the median price in Suburb