Thinking about Wollongong

[free_dom]

Hello,

I have recently been looking at the Wollongong market, particularly apartments. Seems that you can pick up a unit in a 70's red brick block for under $300k easily near the CBD. A bit worried about future growth down there and rental demand.

Any one currently investing in that area that can make a few comments or observation's on the area.

Cheers.

 

[Cherry Pro]

Hi

I think the Wollongong area has already seen a price increase over the last 6 months or so as a flow on from Sydney. Buyers Agents are over the area and dual occ homes go under contract in a week's time. In saying that, I think there is still some room for growth.

With the red brick unit at $300k what will the rental yield be ?

The dual occ red brick home we purchased in the outer suburbs late last year returns around 8% pa and has increased around $25,000 in the last 6 months.