West Wollongong

POSTAL CODE: NSW, 2500

HOUSE

UNIT

A steady increase in median property prices over a five-year period in the suburb translates to a 13.99% capital gain.

It also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $1,100,000

The augmented property values in the suburb are trailing above the territorial average of 5.34% in 2016.

On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $680.

Home owners selling their properties and realtors in WEST WOLLONGONG usually have to wait an average of 41.5 days days before their assets are lifted off the market.

The NSW suburb ranks 567th on the list of best yielding suburbs for rental properties in NSW, posting a 3.21% return.

It also places places 1011th in Australia based on median property value growth during the quarter.

Property investors enjoyed capital gains of 42.5% over the last 12 months in WEST WOLLONGONG, translating to lower returns compared with its peers in NSW.

A survey of average capital gains or median home price increase in suburbs across the country shows that WEST WOLLONGONG, 2500 obtained a 9.81% growth over a ten-year period. It ranks 32nd on our list of suburbs that property investors should look into.

WEST WOLLONGONG, 2500 has a capital gain of 42.5% for the past year, which is higher than average compared to its 69.9% growth within a five-year period.

With the median home price in WEST WOLLONGONG sitting at $883,500, and the average rent at $520, property owners could potentially earn a 3.06% increase in gross rental yield.

Figures from the previous quarter show that capital gains for real estate buyers in WEST WOLLONGONG are low, as opposed to average gains per annum over the past five years.

WEST WOLLONGONG, 2500 in NSW belongs to the local government area of Wollongong.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$1,100,000	$883,500
Growth Report
Median Quarterly	-0.45%	7.09%
Median 12 month	5.77%	42.5%
Median 3 years	13.99%	33.86%
Median 5 years	54.93%	69.9%
10 years average annual	7.34%	9.81%
Weekly media advert. rent	$680	$520
Time on Market	41.5 days	66 days
Gross Rental Yield Percent	3.21%	3.06%

Demographics (Median Values)*

Total Population 40510

Weekly Household Income 1239

Household Size 2.30

Average Age 33

Monthly Loan Repayment 1900

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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