CoreLogic National housing Update August 2018
August Market Outlook
Hotspots: New report reveals top 50 ‘growth’ suburbs around the country
Preparing for a spring sale? Spruce up your home for less than $5K
Adelaide August 2018
Brisbane August 2018
Cairns August 2018
Canberra August 2018
Darwin August 2018
Gold Coast August 2018
Melbourne August 2018
Newcastle August 2018
Perth August 2018
Regional NSW August 2018
Regional QLD August 2018
Regional VIC August 2018
South West WA August 2018
Sydney August 2018
Wollongong August 2018
CoreLogic NSW housing Update August 2018
CoreLogic QLD housing Update August 2018
CoreLogic SA housing Update August 2018
CoreLogic VIC housing Update August 2018
CoreLogic WA housing Update August 2018
Borrowing for over 50s
3 innovative ways to break into the property market
Why should I get a pre-approval?
Wollongong August 2018
The month in review: Wollongong
By Herron Todd White
Fifty years ago, the Illawarra was dealing with immigration pressures. Following World War II, the Commonwealth Government launched a migration program which saw a steady supply of immigrants to Australia, mostly from Europe. The Illawarra was a popular place to settle for those arriving under government assistance or by private means. A shortage of labour and materials initially led to the creation of a number of migrant camps such as those in Fairy Meadow, Unanderra and Warrawong.
As the population grew, there was a housing boom between the 1950s and 1970s including the establishment of a number of new land releases for residential dwellings. Areas in suburbs such as Fairy Meadow, Coniston and Warrawong comprise many 1960s and 1970s built red brick single level dwellings which was the style of the times.
Fast forward 50 years and we are seeing a number of different styles of new housing. Current issues which are shaping new housing in the Illawarra are the availability of suitable land along with affordability. The result is:
- Smaller lots in new land subdivisions. Some lots are as small as 250 square metres while a large portion are less than 500 square metres.
- Modern infill townhouse developments, typically in suburbs within close proximity to a CBD.
- An unprecedented level of new construction of residential units in the Wollongong CBD.
A generation of settlers created and built new housing throughout the region.
Fifty years on and this generation is now starting to move on and new residents are purchasing homes which are 50 years old and often have only had one owner and are in original condition. The new owners are renovating these properties and the neighbourhoods are transitioning from older established neighbourhoods to trendy popular suburbs.
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.