Wollongong & surrounding areas

[Carl84]

Hi Everyone,

Want to gather your thoughts on IPs in the Wollongong area...Looking to spend between $180-$250k.

Areas which seem reasonable are Corrimal, Lake Illawarra, Figtree & Berkeley.

Is there significant growth in these areas? Does anyone have an IP in the above suburbs which they could provide a few stats on. Any information would help....

Thank you.

 

[womble66]

I live in the area but my IP is further south. In that price range you will be looking at unit only IMHO. Figtree and Corrimal would be more attractive with Lake Illawarra being further south being a different socio economic area similar to Berkeley (aka as Berzerkely). Some say Berkeley has some potential as you it would be the cheaper of all areas listed and you may even be able to get a house at the top end of the range or just a little more. CG is hard to predict at the moment but for cash flow I would say Berkeley if you get a house with rents about $350-$400pw for even the worst or Figtree/Corrimal for a unit given their closeness to the Gong CBD and Uni.

 

[chilliblue]

We have a unit in Lake Illawarra that is returning 7.4% that was leased within the week of settlement (had to spend 3 days cleaning it).

It is located 250m to the beach and lakes entrance and 400m to the shopping centre.

I would always try to keep to the eastern side of Lake Illawarra and Warilla.

Good prospects. Council and NSW government has spent money on fixing up the lake and beach foreshores.

Building approvals still fairly strong.

Stocklands have commenced building their tripling of the existing centre.

Loads of medical opening up.

 

[Shiloh]

Any pockets of lake illawarra that are to be avoided? What about west of the main road, SHellharbour road? worth it there?

What about koonawarra?

 

[chilliblue]

Try to keep away from the pockets of housing comission on the western side.

Prefer Lake Illawarra, Barrack Heights over Koonawarra.

 

[veseli]

I live in wollongong, here is my thoughts.
I would never invest in konawarra, old part of berkeley, lake illawarra, cringila, port kembla or warilla. If you want growth then buy around shellharbour, and from figtree anything towards north except belambi.
I only invest in wollongong and north.
With that budget you can only buy 2bed unit in decent area.

 

[JohnHenry]

Hi Everyone,

Want to gather your thoughts on IPs in the Wollongong area...Looking to spend between $180-$250k.

Areas which seem reasonable are Corrimal, Lake Illawarra, Figtree & Berkeley.

Is there significant growth in these areas? Does anyone have an IP in the above suburbs which they could provide a few stats on. Any information would help....

Thank you.

Yes, Fairy Meadow and Corrimal seems to be a good choice, RPdata growth shows 17% and 12% accordingly.

University of WOllongong student can use the free green bus as it is in the service area.

 

[Shiloh]

Have any of you got properties in Illawarra? What kind of CG and rental yield do you see and in what suburbs? Also, anyone know a valuer u'd recommend?

 

[womble66]

On a personal level and not from actual experience but a friend is a Senior Valuer (maybe a Director) at Walsh & Monaghan (http://www.walshandmonaghan.com.au/content/peter-adlington) and they service this area (Wollongong & Nowra).

 

[veseli]

I will have house for sale in gong in 2 months time, price around 500k fully done, pm for more details.