"But even since March, we've still seen that Illawarra housing values have still been rising," he said. Wollongong Property Market Update March 2020. A rmajor regional centre, Wollongong's real estate market is made up of a diverse range of property types. Thank you. Illawarra was the top performing major regional property market in Australia during the 2019/2020 financial year, a new report suggests.The region may also experience a further influx of buyers from outside the Illawarra, as the COVID-19 pandemic leads to larger numbers of people working from home.CoreLogic’s regional market update, published each quarter, covers the 20 largest regional property markets in Australia.According to the report, broader regional housing values have held firm through the COVID-19 period compared with the capital cities.Dwelling values across the combined regional areas of Australia dropped by just 0.1 per cent between March and the end of July, while capital city home values are down two per cent over the same period.According to the report, the Illawarra topped the regions in the yearly price growth category between June 2019 and June 2020, with a 12 per cent increase.CoreLogic head of research Tim Lawless did note that much of the recorded growth occurred prior to the pandemic.“But even since March, we’ve still seen that Illawarra housing values have still been rising,” he said.“The market’s clearly lost momentum. The needs and wants of the downsizer or retiree will vary depending on a number of influences.

The region may also experience a further influx of buyers from outside the Illawarra, as the COVID-19 pandemic leads to larger numbers of people working from home. Higher incomes allow the budget to stretch further than a first home buyer and the type of property can vary depending on the buyer’s appetite for doing the renovation themselves or the desire to move straight in and not have to do any work. Home owners in the Illawarra tend to come in all shapes and sizes. According to the report, the Illawarra topped the regions in the yearly price growth category between June 2019 and June 2020, with a 12 per cent increase. The Regional Market Update is a quarterly report which provides a comprehensive analysis of the housing market performance across Australia’s largest regional areas. Dwelling values across the combined regional areas of Australia dropped by just 0.1 per cent between March and the end of July, while capital city home values are down two per cent over the same period. Posted on Thursday, 5th March, 2020 in Monthly Updates. The region may also experience a further influx of buyers from outside the Illawarra, as the COVID-19 pandemic leads to larger numbers of people working from home. Illawarra agents look at the 2019 property market, offer advice for buyers in 2020 Posted By Amit Pall Prospective buyers in the Illawarra should get their finances in order, be confident and take advantage of stamp duty exemptions in 2020, agents suggest. Wollongong Property Market Update March 2020.
Although property transactions in the Illawarra will likely slow in the coming weeks and months, there could be silver linings for the region's market, an expert says. The year 2019 was "one of the stronger in recent times" for the Illawarra's commercial property market, an agent believes.

First home buyers are also attracted to the copious amounts of low maintenance house and land packages on offer in the numerous developments located further from the CBD such as the Teneriffe Estate and the Josephs Gate Land Development. In terms of specific locations, the Shellharbour suburb of Warilla still offers a lot of affordability with a median house price of $541,000 and rental yields of 4.1%. "But even since March, we've still seen that Illawarra housing values have still been rising," he said. Think a $600,000 house in Corrimal, a $400,000 unit in Wollongong, a $425,000 house in Dapto, a $400,000 house in Warilla or a $325,000 house in Nowra. "Sign up to receive our Breaking News Alerts and Editor's Daily Headlines featuring the best local news and stories.The Illawarra was the top performing major regional property market in Australia during the 2019/2020 financial year, a new report suggests. Due to the higher budget, second home buyers are found throughout most parts of the Illawarra. "The market's clearly lost momentum. Do they want to downsize in size but not in budget? The Illawarra was the top performing major regional property market in Australia during the 2019/2020 financial year, a new report suggests. "Probably one of the reasons why the (Illawarra) market's been quite resilient, is it has that affordability advantage that's quite popular with first home buyers, as well as people looking for a lifestyle change. "Keep in mind that this time last year the market was only just starting to emerge from a two-year correction," Mr Lawless said. We have received your message and will respond ASAP. If you are able, please subscribe here. If you are looking for an investment property, consider houses in Lake Illawarra rent out for $460 PW with an annual rental yield of 4.8% and units rent for $378 PW with a rental yield of 4.4%. These buyers are particularly more dominant in the executive style residential developments such as the Snow Gums Estate, Platypus Banks Estate and Run-O-Waters. If you are looking for an investment property, consider houses in Wollongong rent out for $520 PW with an annual rental yield of 3.3% and units rent for $425 PW with a rental yield of 3.9%. Semi-modern villas often appeal to this demographic or for those with a bit of cash, a nice modern Wollongong unit with ocean views can be on the agenda. These developments are seen as good value for money and provide families with more elbow room for a larger home, shed and backyard.With over 300,000 mortgages arranged within Australia, Smartline has become one of Australia’s most respected mortgage broking groups.Smartline.com.au is owned and operated by ASX-listed REA Group Ltd (REA:ASX) © REA Group Ltd.


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