Wollongong is a metropolitan hub without all the fuss or congestion of a capital city. It combines friendly seaside living with extensive modern conveniences and fantastic real estate properties. Long term rentals in Wollongong and Self serviced apartments in Wollongong will allow you to experience the lively atmosphere of the city and enjoy the lovely views.
In 2001 the city of Wollongong had a population of 181,612 with the average age of Wollongong residents sitting at now 36, which is an increase over the last two years. Wollongong residents feel it has improved as a place to live due to improved of infrastructure, more shopping and entertainment, and better protection of the environment.
More recently, Wollongong has become an attractive destination for new residents moving from Sydney seeking lower real estate prices, less traffic congestion and a less-developed natural environment. Wollongong's cheaper real estate, combined with efficient transport links to Sydney via CityRail's South Coast Line and the F6 Southern Freeway, have seen many young families move to new subdivisions in Wollongong while retaining jobs in Sydney.
The city is as one of the 10 least affordable places in the world, when you compare median house prices against median income. So, in Wollongong's case the property prices are about seven times the median household income and the "lack of affordability" relates to those who are on relatively limited incomes.
There are still suburbs in the Wollongong area where you can pick up a house for less than $300,000 and good value properties can still be found in suburbs like Unanderra and Dapto where the median prices to June 2007 came in at $285,500 and $293,000. Wollongong's house and unit price cycles have gone against the general trend in Sydney, with prices rising between 2001 and 2003 and then consistently holding value in the ensuing years.
If you have any questions relating to the real estate market in Wollongong please feel free to contact one of our staff members for more assistance.