At number 2742th in the list of Australian suburbs ordered by increase in median house value over the last year, Wollongong, 2500 is in the BOTTOM 40% with a property value increase of 9.48% recorded in median house prices.
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.
In the last year 75 properties changed hands in Wollongong, which puts it as the 519th most active market in NSW when comparing the number of sales per suburb.
Using the current median advertised rental of $550 and the average annual increase in value of a median property of 7.85%, investors should hope to achieve an overall return of 2.90%
Wollongong, 2500 ranked 328th 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
Over the longer term, Wollongong has seen property prices show investors a -2.50% return over the last 3 years. This is an improvement over the last 12 months
The most recent median price for Wollongong is $603500, with sellers offering an average of -3.80% off the asking price.
Renters in Suburb are facing rents around $22880 per annum or $440 every week.