Wollongong has had a pretty good year for property investment returns compared to the rest of NSW, giving investors a capital gain of 22.65% to date .
When looking at the potential capital gains offered to property investors over the last 3 years, Wollongong comes in at number 630th in NSW.
Sellers are offering property buyers an average discount of -8.41% to buyers in Wollongong at the moment, which is less than average for the rest of NSW.
At number 3027 in a list of fastest selling suburbs, Wollongong is in the bottom 40% of suburbs in Australia with an average of days on market 49.8 for properties listed there.
Using the current median advertised rental of $545 and the average annual increase in value of a median property of 9.12%, investors should hope to achieve an overall return of 2.62%
With a capital gain of 8.77% for the last 12 months, Wollongong, 2500 has performed for property investments than its average annual 5.54% property growth over the last 5 years.
Over the longer term, Wollongong has seen property prices show investors a 1.64% return over the last 3 years. This is an improvement over the last 12 months
At number 168th of NSW’s most discounted properties, Wollongong is in the bottom 30% of the state/territory when listing in order of most discounted to least.
At number 1042 in a list of fastest selling suburbs, Wollongong is just in the bottom half of suburbs in Australia with an average of days on market 49.7151 for properties listed there.
With the median price for a house in Wollongong being $620000 and the advertised rent reaching $450 the gross rental yield for property investors calculates out to be 3.77%