Investment property in Wollongong has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 4.24%
While Wollongong,2500 ranked number 801th in NSW for increase in median house value (annualised) increase, it is ranked 284th over the last 5 years.
Property buyers and investors in Wollongong 2500 should be seeing an average reduction in asking price of around -5.12% . This means that Wollongong is holding prices well when compared to other suburbs in NSW.
Using the current median advertised rental of $527.5 and the average annual increase in value of a median property of 7.95%, investors should hope to achieve an overall return of 3.10%
Wollongong, 2500 ranked 131th in NSW when comparing growth in median property values or capital gain over the last 12 months. Wollongong is one of 3163 in our list for NSW
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.
Vendor discounting in Wollongong is giving property investors an average Vendor Discount of around -5.23%. This puts suburb at number 166th in NSW when ranking the most discounted suburbs.
Advertised rents are around the $430 mark per week – giving a return of 3.77% based on the median price in Suburb