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CoreLogic National housing Update July 2018
July Market Outlook
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CoreLogic NSW housing Update July 2018
CoreLogic QLD housing Update July 2018
CoreLogic SA housing Update July 2018
CoreLogic VIC housing Update July 2018
CoreLogic WA housing Update July 2018
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Wollongong July 2018
The month in review: Wollongong
By Herron Todd White
There has been strong growth in residential property values in the Illawarra over the last 5 years. This uplift has now taken most property values well over the $500,000 mark. Half a million dollars will mostly limit a purchaser to vacant land in one of the new housing estates (Calderwood, West Dapto) or an older style 1- or 2- bedroom unit. There are still limited opportunities to purchase a free standing dwelling for under $500,000, however, it is likely that this dwelling will be in fair condition and would require some updating. Look for dwellings in suburbs around Warrawong/Berkeley and Warilla/Barrack Heights.
Further down the Coast it is still possible to pick up a free standing dwelling in and around Nowra in the $300,000’s, however these properties will not be in the most desirable neighbourhoods and will require some work. Decent houses are available for between $450,000 to $500,000. Other Shoalhaven townships such as Culburra Beach, Sanctuary Point and St Georges Basin all still offer houses for under $500,000. For something a bit different, try a one acre bush block in Woodridge Estate in Bangalee, priced around $400,000.
The residential market has finally slowed down now and it will be interesting to see what properties continue to be available for under $500,000 in the coming years. If prices have another surge, there will be very limited supply remaining.
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.