11 Dec Wollongong’s Top 10 Selling Suburbs
Wollongong has been a sellers market for five years now with property prices increasing between 37 and 67 per cent, according to analysis by the Domain Group.
Even though the market is starting to “settle down”, some suburbs have still seen substantial increases in a report released by economist Dr Andrew Wilson.
Fairy Meadow has stormed ahead as the local government area’s top performing suburb with the median house price up 12 per cent in the six months to March 2016 at $700,000.
That’s a total increase of of 49.7 per cent over the past five years.
Unit prices jumped 40.6 per cent in the six months to March at a median of $522,500, an increase of 75.9 per cent over the previous five years.
Corrimal house medians came in second, rising by 11.1 per cent in six months to $677,500, a total increase of 45.7 per cent over five years.
The overall growth for Thirroul in the 12 months to March was low at 1.3 per cent, however it bounced back in the latter six month period to a 9.8 per cent increase.
Dapto was another top performer with the most number houses sold in the LGA for the 12 months to March. The median up 12.9 per cent for that year at $480,000.
Next door, Kanahooka houses were fairing well with a rise of 12.7 per cent at the year to March with the median at $540,750.
Other areas with house sales inside the top 10 included Figtree, Helensburgh, Horsley, Berkeley then Woonona – Lake Heights and Balgownie dropping out of high performers list.
Meantime Wollongong, Fairy Meadow, Woonona, Corrimal and North Wollongong were the top selling suburbs for units in the six months to March.