April 18
CoreLogic National housing Update April 2018
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Adelaide April 2018
Brisbane April 2018
Cairns April 2018
Canberra April 2018
Darwin April 2018
Gold Coast April 2018
Melbourne April 2018
Newcastle April 2018
Perth April 2018
Regional NSW April 2018
Regional QLD April 2018
Regional SA April 2018
Regional VIC April 2018
South West WA April 2018
Sydney April 2018
Tasmania April 2018
Wollongong April 2018
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CoreLogic NSW housing Update April 2018
CoreLogic QLD housing Update April 2018
CoreLogic SA housing Update April 2018
CoreLogic VIC housing Update April 2018
CoreLogic WA housing Update April 2018
Wollongong April 2018
The month in review: Wollongong
By Herron Todd White
April 2018
With approximately 215,000 residents, Wollongong City is the third largest City in NSW and the population of the entire Illawarra District tops 400,000. Although it has the population and local microeconomic factors of its own, the geographic proximity to Sydney is the key measure when determining the main influence on the residential property market. When Sydney is hot, it flows on down the coast.
When Sydney dries up, so do things down here. As the State capital has become more and more unaffordable, Sydney residents are looking further afield and the Illawarra is a go to.
Buyers are faced with the decision of paying over $1,000,000 to live in a suburb close to the Sydney CBD or to consider outer suburbs. With the commute from Campbelltown and surrounds into the CBD being over an hour, this compares favourably with catching the train from Thirroul (1 hour 15 minutes) or Helensburgh (50 minutes). If proximity to family is not a relevant factor, the decision to pick the Illawarra is an easy one. RP Data reports the median sale price for December 2017 in Helensburgh as $911,000; in Woonona as $920,000; in Corrimal as $800,000.
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DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.