Best & worst suburbs of Illawarra
- Thread starter muzzajm
- Start date
I replied to this once but think I was cut off the net.
I suggested looking at lake heights as I settled a conveyance recently in that area and looked interesting. Purchaser bought for $495k a four bedroom two bathroom newly renovated waterfront. Lake at back. Leased for $420 pw. I thought he paid too much considering but talked purchaser into negotiating price for $4,000 less due to minor building report issued. However he was keen to sign and that was it. Older style house though.
I personally thought I would look into this area for next one when I get time as I got vibes that this area has not taken off yet. Might be worth checking out.
Fleur
I suggested looking at lake heights as I settled a conveyance recently in that area and looked interesting. Purchaser bought for $495k a four bedroom two bathroom newly renovated waterfront. Lake at back. Leased for $420 pw. I thought he paid too much considering but talked purchaser into negotiating price for $4,000 less due to minor building report issued. However he was keen to sign and that was it. Older style house though.
I personally thought I would look into this area for next one when I get time as I got vibes that this area has not taken off yet. Might be worth checking out.
Fleur
Illawarra and Nowra are two different regions with the Illawarra based around the suburbs of Wollongong/Shellharbour/Kiama and the Shoalhaven which is further south and includes the many suburbs of Nowra and smaller towns/villages along the coast and bay area all the way to Ulladulla.
So my basic point is that the areas you nominate are significantly different in both economic and lifestyle so its hard to provide input unless you narrow your criteria or provide further info relating to what your looking for, how much you want to spend and what rate of return or capital gain you require.
I live in the Illawarra (40+ years) and work in the Shoalhaven (Nowra for 15 years) plus I have an IP there (good rent but little to no capital gain since 2010) so can answer some specific questions if you require.
For me if I had the $$$$$ and looking in the Illawarra I would be looking at Figtree/West Wollongong as they are both close to the CBD and have a range of houses/units but like any place you need to make sure you do your DD are there are a few suburbs that I wouldn't but in and the prices usually reflect this stigma. As for Nowra or the Shoalhaven, who knows as it never seem to get many good raps and it can be a bit tourist driven in areas close to the ocean/bay that have water view or easy access therefore people want top dollar for their properties.
Each to their own but not for me as Lake Heights is nestled between the lovely (not) suburbs of Berkeley to the west, Cringila (Steelworks) to the north, Warrawong to the East and the Lake to the south. So that puts you in the heart of one of the lowest economic, lowest employment, highest crime and highest drug related issue zones of the Illawarra. May have nice views bit will smell from the weeds in the lake during summer and unlikely to see great capital gains or rent return. Yes there may be small areas with these suburbs that are ok but as an overall picture this is what it is.
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As noted above there are significant social issues with the area on the north of the lake between the waterfront and the steelworks (i.e. lake heights, berkeley, cringila etc) there are also enough real health risks (acid rain history, increased cancer incidents etc) close to the steelworks that would turn me off. So that area is only worth a look if you are desperate for waterfront or views at bargain price.
The southern banks of the lake at lease have some distance to the steelworks and I like them a bit better, have recently purchased a house for a client in the Lake Illawarra/Barrack Heights area. There is a history of social issues in the old Warilla public housing estate also but more gentrification happening near the beach etc I reckon and they have fixed up the lake foreshore so its all getting nicer.
West Gong and Figtree are fine depends on the streets you are in.
Council areas going down the coast are Wollongong/Shellharbour/Kiama/Shoalhaven and Nowra is Shoalhaven so very different area to Wollongong. I have been in Shoalhaven now for 7 yrs can answer any questions you like.
Matt
The southern banks of the lake at lease have some distance to the steelworks and I like them a bit better, have recently purchased a house for a client in the Lake Illawarra/Barrack Heights area. There is a history of social issues in the old Warilla public housing estate also but more gentrification happening near the beach etc I reckon and they have fixed up the lake foreshore so its all getting nicer.
West Gong and Figtree are fine depends on the streets you are in.
Council areas going down the coast are Wollongong/Shellharbour/Kiama/Shoalhaven and Nowra is Shoalhaven so very different area to Wollongong. I have been in Shoalhaven now for 7 yrs can answer any questions you like.
Matt
my brother has lived in lake heights for years (in a newer estate) with no social issues. sure he overlooks/is close to cringilla and the steel works but its not all bad. the black soot i dont like tho :/
tho duplexes and triplexes popping up everywhere, cars line the streets
i grew up in Nowra (north)....always thought it was all pretty ok but wouldnt go into west nowra...maybe right near the mall but not any further. not sure how much capital gain you will see though :/
tho duplexes and triplexes popping up everywhere, cars line the streets
i grew up in Nowra (north)....always thought it was all pretty ok but wouldnt go into west nowra...maybe right near the mall but not any further. not sure how much capital gain you will see though :/
We bought an IP in Berkeley in April after noting that it along with most of adjoining Lake Heights seemed to have cleaned right up in recent years. Not much housing commission left apart from the block for the elderly near the school and that along with the rest of the suburb was clean and tidy.
Warrawong is a very different story - we found it truly scary and couldn't get out quick enough. The unkept front yards complete with old bomb cars were on display for all but the last straw for us was the incident involving 9 police cars just near the Westfield on the evening that we were last there, we bailed in a big hurry.
This is one of those areas where you really need to get in the car and drive around to get a feel what which suburbs you like and which ones make you consciously lock your car doors while passing through. If you're in Sydney it's only an hour's drive away.
Cheers,
Dave
Warrawong is a very different story - we found it truly scary and couldn't get out quick enough. The unkept front yards complete with old bomb cars were on display for all but the last straw for us was the incident involving 9 police cars just near the Westfield on the evening that we were last there, we bailed in a big hurry.
This is one of those areas where you really need to get in the car and drive around to get a feel what which suburbs you like and which ones make you consciously lock your car doors while passing through. If you're in Sydney it's only an hour's drive away.
Cheers,
Dave
See thats funny most people in Nowra regard West Nowra as the better part of town and house prices are more expensive. Its East Nowra that has the current and ex housing commission and the reputation for social issues.
Best and worst suburbs of Illawarra
Sounds awful.
They may be trying to clean the area up. I was told that the lake was dredged and is now tidal. I did look up capital growth, not good at moment. Last purchased for $380k about fifteen years ago from memory. And this particular property sold for $495K. Could be the beginning.
Sounds a bit like Redfern. They are cleaning Redfern up now....could be something to sit on like Redfern ....for the grandchildren. I thought the steel works closed down or am I confusing with somewhere else.
Fleur
Sounds awful.
They may be trying to clean the area up. I was told that the lake was dredged and is now tidal. I did look up capital growth, not good at moment. Last purchased for $380k about fifteen years ago from memory. And this particular property sold for $495K. Could be the beginning.
Sounds a bit like Redfern. They are cleaning Redfern up now....could be something to sit on like Redfern ....for the grandchildren. I thought the steel works closed down or am I confusing with somewhere else.
Fleur
Yep someone is cleaning it up using guns, several murders in the last couple of years will do that. As I said before some streets/areas are OK but some are not. As for HC, there is a bit more than that as Berkeley was fully HC when developed back in the 60's before then new estates were developed and HC starting selling off some of there assets to tenants etc.
They only fixed the entrance at Windang and a small abount of dredging to ensure the entrance remains open and tidal but apart from several foreshore improvements, an increase in fish and maybe water quality the lake is the same as it has been for many years. As for CG, they are not outstanding results unless the gains were only in the last few years but any gain is better than a loss,
The steelworks is still there, unlike Newcastle NSW, but has significantly downsized in the last 10 years to a few core outputs such as High Grade Steel, Coking Coal and Painted Products (Lysaghts Colorbond etc)
Here's a recent press release from IRIS on RE in the Illawarra. Unfortunately you have to subscribe for the full report: http://www.iris.org.au/system/files/f1/o594//MRRE_J14Jun.pdf
no worries I thought it might be that. Some parts of east N are ok, but some are the absolute bronx.Anything in the postcodes 2528 and 2529 are in a sellers market and you may have missed the boat there.
With regards to Nowra and surrounds, I personally avoid anything south of Kalandar Street and Worrigee.
Be wary of the proposed road works in North Nowra. Whilst the locals love this area, I can never make the numbers stack up.
Be aware also in Nowra that they have incredibly high strata agent fees (when compared to Sydney) so you will need to take that into consideration if buying a strata property.
With regards to Nowra and surrounds, I personally avoid anything south of Kalandar Street and Worrigee.
Be wary of the proposed road works in North Nowra. Whilst the locals love this area, I can never make the numbers stack up.
Be aware also in Nowra that they have incredibly high strata agent fees (when compared to Sydney) so you will need to take that into consideration if buying a strata property.
There are currently massive issues with the management of lake Illawarra, no one knows who is responsible for managing it. The NSW government has disbanded the Lake authority and replaced it with nothing thus Wollongong/shellharbour are unsure how the lake should be managed.
Lots of development happening in Wollongong CBD
Personally I wouldn't purchase anything in the southern suburbs (warrawong to shellharbour) as I reckon it's getting to expensive and has had its run, especially considering the rental return. Gee a lot of very basic houses are starting to be listed in the $350 to $400k range.
If really looking for something I would see if you could pick a up cheap renovator on the beach side of warilla ( you could pick these up for under/around $400k a while back) - area was/is under valued compared to close by areas of windang/barrack point/ shellharbour yet just as close to the water.
There is a hell of a lot of job loses happening in the gong at the moment especially in traditional employment areas in the region, mining, wharfs, steelworks. It rates were raised anything time soon it would really hurt the market.
Lots of development happening in Wollongong CBD
Personally I wouldn't purchase anything in the southern suburbs (warrawong to shellharbour) as I reckon it's getting to expensive and has had its run, especially considering the rental return. Gee a lot of very basic houses are starting to be listed in the $350 to $400k range.
If really looking for something I would see if you could pick a up cheap renovator on the beach side of warilla ( you could pick these up for under/around $400k a while back) - area was/is under valued compared to close by areas of windang/barrack point/ shellharbour yet just as close to the water.
There is a hell of a lot of job loses happening in the gong at the moment especially in traditional employment areas in the region, mining, wharfs, steelworks. It rates were raised anything time soon it would really hurt the market.
