Property value increases in Wollongong have tracked just higher than the NSW average of -3.87% over the last 12 months.
Over the longer term, Wollongong has seen property prices show investors a 13.58% return over the last 3 years. This is worse than over the last 12 months
A $540 per week rent on the median house gives suburb investors a gross yield of circa 3.18%, without taking into account capital value appreciation, which has been averaging out at 8.62%.
If you compare the increase in value of investment property in Wollongong, 2500 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this NSW suburb was -5.00%.
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.
Property investors looking for a bargain in Wollongong should be aiming for at least -7.16% off the asking price, which is the average vendor discount being achieved at the moment.
With the median price for a house in Wollongong being $570000 and the advertised rent reaching $430 the gross rental yield for property investors calculates out to be 3.92%