Suburb Profile Report for Corrimal NSW (2518)

Corrimal House: Median price $769,000, Annual capital growth 7.36%, Number of sales 97, Weekly median advertised rent $510

Corrimal Unit: Median price $510,000, Annual capital growth 7.10%, Number of sales 49, Weekly median advertised rent $390

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

NSW has seen average median house prices change by 11.06% which means that Corrimal, 2518 has done well for property investors by showing a capital gain of 19.69% over the last year

Corrimal,2518 was ranked 767 in Australia by increase in median property value over the quarter.

Corrimal, 2518 is offering NSW ‘s 101th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this NSW.

On average over the past year, suburb has had 8.08 sales per month, which equates to 97 per year.

Situated 62.65km from the CBD, Corrimal is one of Wollongong localities in the postcode 2518.

Corrimal is in the TOP 30% in NSW when comparing median price capital growth over the last year. Corrimal gave property investors a good capital gain figure when compared to the rest of the state, with 15.91%.

Taking the average capital gain, or increase in median house value, Corrimal,2518 has racked up an average of 15.91% over the period. This ranks it number 94th in the whole country for real estate investors looking at median house price increases.

Our latest figures would indicate that property sellers in Corrimal are currently offering property investors an average price cut of -4.01% below the asking price at the moment.

Using the current median advertised rental of $390 and the average annual increase in value of a median property of 7.10%, investors should hope to achieve an overall return of 3.98%

YIP MAG Information supplied by:

YIP MAG
June 2016

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It may not get the same attention as some of the more trendy suburbs in Wollongong’s north, but Corrimal’s unit market has enjoyed a solid run of late.Full summary It may not get the same attention as some of the more trendy suburbs in Wollongong’s north, but Corrimal’s unit market has enjoyed a solid run of late.

At $445,000, the median unit price is still relatively affordable; however, if market conditions continue it may not be so for much longer.

The median price has jumped 22% in the past year and grown by a very respectable 56% over the past five years.

In terms of amenities, Corrimal is well served, with the suburb offering a number of education options.

Corrimal train station links it to the centre of Wollongong as well Sydney, while the upgraded Memorial Drive has made life easy for those commuting by car.

That strong run of capital growth has had an effect on rental returns though, with landlords only seeing yields of 4% currently, off the back of a median weekly rent of $350.

Landlords don’t seem to be struggling to find tenants either, with the current vacancy rate in Corrimal just 0.59%.Close
Metrics i HOUSE UNIT
$769,000 $510,000
4.63% 3.45%
19.69% 15.91%
7.36% 7.10%
$510 $390
97 49
3.45% 3.98%
47.94 21.04

Source: CoreLogic

DSR Score for property investment : Very good (H), Good (U)
Find a mortgage broker in Corrimal NSW
Demographics
Total population 6324
Median household income ($/weekly) 963
Median age of persons 41
Median housing loan repayment ($/monthly) 1950
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 683 10.8
    25-34 years 768 12.1
    35-44 years 858 13.6
    45-54 years 885 14.0
    55-64 years 746 11.8
    Others 2385 37.7
    Age Group
    Census Count Percent(%)
    Registered Married 2337 48.4
    Not Married 2118 43.9
    Defacto Relationship 373 7.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 4814 79.5
    Japan 182 3.0
    Papua New Guinea 58 1.0
    United Kingdom 349 5.8
    Other 148 2.4
    Others 506 8.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 86 1.5
    Christianity 4566 77.3
    Hinduism 36 0.6
    Islam 85 1.4
    No Religion 1092 18.5
    Others 42 0.7
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 274 11.9
    $400-$599 297 12.9
    $600-$799 247 10.7
    $1,500-$1,999 271 11.8
    $2,000-$2,499 198 8.6
    Others 1017 44.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 2109 42.0
    Employed, worked full-time 1676 33.4
    Employed, worked part-time 898 17.9
    Unemployed, looking for work 175 3.5
    Employed, away from work 167 3.3
    Person Characteristics
  • Census Count Percent(%)
    Professionals 522 19.1
    Technicians & trades workers 452 16.5
    Community & personal service workers 326 11.9
    Clerical & administrative workers 406 14.8
    Labourers 256 9.4
    Others 774 28.3
    Occupation
    Census Count Percent(%)
    Pre-school 145 10.4
    Infants/Primary 426 30.5
    Secondary 387 27.7
    Technical or Further Educational Institution 157 11.2
    University or other Tertiary Institutions 247 17.7
    Others 37 2.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4430 74.2
    Semi-detached, row or terrace house, townhouse 963 16.1
    Flat, unit or apartment 554 9.3
    House or flat attached to a shop, office 23 0.4
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 931 37.8
    Being purchased 776 31.5
    Rented 739 30.0
    Other tenure type 20 0.8
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals