Lake Illawarra

POSTAL CODE: NSW, 2528

HOUSE

UNIT

Property investments in LAKE ILLAWARRA did not fare well against the rest of the country last year, registering a median home price decrease of 3.83%.

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

Based on its average 5-year and quarterly capital gains LAKE ILLAWARRA, 2528 saw average growth in the long term.

Real estate investors could earn a rental income of $650 based on current median home prices for the suburb.

It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 53.6 days.

Besides that, the Australian suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Property investors perceived the median home price rise to $895,000.

LAKE ILLAWARRA ranks 366th on the list of best yielding suburbs for rental properties in NSW, posting a 3.78% return.

Based on its average 5-year and quarterly capital gains LAKE ILLAWARRA, 2528 saw average growth in the long term.

Besides that, the Australian suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.

Profits due to an upward trend in home prices in LAKE ILLAWARRA, 2528 averaged 6.33% per annum over a 3-year period.

Average weekly rents on listings have reached the $585 mark, reflecting a 4.25% increase in returns based on the current median price in LAKE ILLAWARRA.

An average of 3.42 real estate transactions take place per month in LAKE ILLAWARRA which translates to 41 per annum.

41 properties were sold in LAKE ILLAWARRA during the past year, making it the 180th most active market in NSW based on total real estate transactions.

LAKE ILLAWARRA, 2528 places 383rd in Australia based on median property value growth during the quarter.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$895,000	$715,500
Growth Report
Median Quarterly	0.56%	0.07%
Median 12 month	3.83%	4.45%
Median 3 years	20.13%	19%
Median 5 years	63.77%	47.53%
10 years average annual	7.74%	6.72%
Weekly media advert. rent	$650	$585
Time on Market	53.6 days	50.8 days
Gross Rental Yield Percent	3.78%	4.25%

Demographics (Median Values)*

Total Population 23774

Weekly Household Income 972

Household Size 2.40

Average Age 44

Monthly Loan Repayment 1690

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

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