Wollongong October 2017

The month in review: Wollongong

By Herron Todd White
October 2017

You only need to take a look at any new subdivision to see how varied traditional housing style has now become. Subdivisions routinely have lots ranging from as small as 250 square metres up to on average 700 square metres with the odd larger block thrown in. They are also likely to accommodate duplex or medium density townhouse developments. For developers it can be all about squeezing in as much as possible and an affordability crisis means consumers will take what they can get.

Shell Cove is a good example of the variance of new subdivisions with many single dwelling lots available around the golf course mostly ranging from 400 to 800 square metres and higher density attached and detached housing available closer to the proposed marina. The great Australian dream does live on in some areas with a subdivision in Wongawilli having a minimum lot size of 2,000 square metres however this sort of subdivision may not be as profitable for the developer and in most cases will only be developed when town planning controls dictate it.

In the more established suburbs there has been a sharp rise in infill housing including subdividing larger lots, knocking down and building duplexes or even townhouse construction over adjoining lots. Savvy mum and dad style developers are keeping their eyes out for properties to become available that they know will meet the local council requirements for a second dwelling or duplex construction. Growth in the residential market is making these small time developments very profitable.

With its close proximity to Sydney, housing in the Illawarra is in huge demand and as long as this continues we are likely to see denser and denser living.

Chat with a Mortgage Broker in Wollongong today.

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