How much for a property in Wollongong now?

Authored by the expert who managed and guided the team behind the Australia Property Pack

Yes, the analysis of Wollongong's property market is included in our pack

Who is the author of this content?

BAMBOOROUTES

A team specialized in real estate investing in APAC countries (Japan, Thailand, Indonesia, Australia, etc.).

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Wollongong. If you'd like to learn more about us, you can check our presentation page.

How this content was created 🔎📝

At BambooRoutes, we explore the Australian real estate market every day. Our team doesn't just analyze data from a distance—we're actively engaging with local realtors, investors, and property managers in cities like Wollongong, Sydney, and Melbourne. This hands-on approach allows us to gain a deep understanding of the market from the inside out.

These observations are originally based on what we've learned through these conversations and our observations. But it was not enough. To back them up, we also needed to rely on trusted resources

We prioritize accuracy and authority. Trends lacking solid data or expert validation were excluded.

Trustworthiness is central to our work. Every source and citation is clearly listed, ensuring transparency. A writing AI-powered tool was used solely to refine readability and engagement.

To make the information accessible, our team designed custom infographics that clarify key points. We hope you will like them! All illustrations and media were created in-house and added manually.

What's your main goal—live in it, rent it out, or buy to resell later?

Your investment goal fundamentally shapes which Wollongong suburb and property type makes sense for your budget and timeline.

If you're planning to live in the property, prioritize lifestyle factors like proximity to beaches, schools, and transport links. Premium coastal suburbs like Coledale and Thirroul offer the best livability but come with higher entry costs of $1.5–$2 million for houses.

For rental investment purposes, focus on suburbs with strong tenant demand and solid yields. Budget-friendly areas like Warrawong and Koonawarra deliver rental yields of 4–5% annually, significantly higher than premium coastal locations that typically yield 3–3.5%. Long-term rental demand remains steady across most Wollongong suburbs, with houses fetching $650–$950 weekly and units $520–$680 weekly.

If you're buying to flip and resell, target suburbs with recent price momentum like Fairy Meadow and Wongawilli, which have recorded 7–8% house price growth in the past 12 months. Properties requiring cosmetic renovations in these areas can generate 10–18% margins after a 6–12 month renovation timeline.

It's something we develop in our Australia property pack.

Which property type are you considering—house, townhouse, apartment, new build, or off-the-plan?

Houses dominate Wollongong's property landscape, representing the majority of sales with median prices of $1.26–$1.29 million as of September 2025.

Established houses on 450–700 square meter blocks offer the best long-term capital growth potential, particularly in suburbs like Fairy Meadow, North Wollongong, and Wongawilli. These properties typically feature 3–4 bedrooms, 2 bathrooms, and single or double garages.

Units and apartments are concentrated in central Wollongong and beachside locations, with median prices of $690,000–$750,000. They deliver higher rental yields (4.2% vs 3.3% for houses) but generally show slower capital appreciation. Most units range from 70–120 square meters internally.

Townhouses occupy a middle ground between houses and units, typically priced 10–15% above comparable units in the same suburb. They're less common in Wollongong compared to Sydney markets but offer a compromise between affordability and space.

New builds and off-the-plan developments are limited in Wollongong, with most activity concentrated in central areas and selected coastal pockets. These options carry developer premiums of 5–10% above established properties but offer modern amenities and warranties.

Which Wollongong areas or suburbs are you open to, and which would you avoid?

Wollongong's suburbs fall into distinct categories based on price, growth potential, and lifestyle factors that should guide your selection.

Premium coastal suburbs like Coledale, Thirroul, and Austinmer offer exceptional lifestyle amenities with ocean views and beach access. Coledale leads with house prices of $1.5–$2 million, while Thirroul and Austinmer typically range from $1.6–$1.8 million. However, these areas showed the slowest growth in recent months.

Up-and-coming suburbs present the strongest growth opportunities. Fairy Meadow recorded 8% house price growth in the past year, with current medians around $1.1 million. Wongawilli delivered similar performance with slightly lower entry points. North Wollongong showed exceptional unit growth of 2.7% with house medians at $1.15 million.

Budget-friendly options include Warrawong ($800,000–$900,000 for houses), Koonawarra ($850,000), and Unanderra, which offer higher rental yields and affordability for first-home buyers or yield-focused investors. These suburbs are further from the coast but provide good transport links and essential amenities.

Suburbs to approach with caution include Bellambi and West Wollongong, which recorded negative unit price movements in recent months. While they may present value opportunities, they require careful property selection and longer investment timeframes.

What size and layout do you need for your Wollongong property?

Property size requirements in Wollongong depend on your living situation, family needs, and investment strategy.

For families seeking houses, the optimal configuration is 3–4 bedrooms, 2 bathrooms, and double garage on blocks ranging from 450–700 square meters. This setup accommodates growing families while maintaining strong resale appeal. Expect to budget $950,000–$1.3 million for this configuration in mid-tier suburbs.

Singles and couples can consider 2-bedroom units of 70–90 square meters internal space, typically priced at $650,000–$750,000. These properties offer manageable maintenance requirements and solid rental yields of 4–4.5% annually.

Investors targeting maximum yields should focus on 3-bedroom houses in budget suburbs like Warrawong or Koonawarra. These properties rent for $650–$750 weekly to families and provide net yields of 4–5% after expenses.

Downsizers and retirees often prefer 2–3 bedroom units or townhouses of 90–120 square meters, particularly in central or beachside locations. Budget $700,000–$950,000 for quality properties with minimal maintenance requirements and proximity to amenities.

Land size becomes crucial for future development potential. Blocks over 600 square meters in zoned areas may offer subdivision possibilities, adding 15–25% to the property's long-term value potential.

What's the current price range by property type in your target suburbs?

Suburb	House Median	Unit Median	Recent Growth
Coledale	$1.5M–$2M	Limited stock	Premium, slower growth
Fairy Meadow	$1.1M	$600K–$650K	8% house growth
North Wollongong	$1.15M	$740K	2.7% unit growth
Thirroul	$1.6M–$1.8M	$850K–$900K	Stable premium
Warrawong	$800K–$900K	$500K–$600K	Budget growth potential
Mangerton	$1.4M	$650K	Stable mid-tier
Koonawarra	$850K	$600K	Entry-level strong growth

What will the all-in purchase cost be including all fees and charges?

Wollongong property purchases involve significant additional costs beyond the property price that buyers must budget for upfront.

Stamp duty represents the largest additional cost in NSW. For a median-priced house at $1.26 million, stamp duty totals approximately $52,000–$60,000. The calculation uses $5.50 per $100 over $1,212,000 plus the base amount of $49,069. First-home buyers may qualify for concessions on properties under certain thresholds.

Legal and professional fees typically range from $3,000–$4,000 total. Conveyancing costs $2,000–$3,000 depending on property complexity. Building and pest inspections cost $500–$1,000 each and are essential for older properties or those requiring renovation.

Lender-related fees add $1,000–$2,000 to your costs, including application fees, valuation costs, and settlement charges. These vary significantly between lenders, with some offering fee-free packages for larger loans.

Ongoing annual costs include council rates of $1,800–$2,400 for houses, or strata fees of $3,000–$6,000 annually for units. Land tax applies only to investment properties above the threshold, currently around $969,000 for individuals.

For a typical $1.26 million house purchase, budget an additional $60,000–$70,000 in upfront costs, representing roughly 5% of the property value.

How would different loan options affect your monthly repayments and borrowing capacity?

Loan structure significantly impacts your monthly budget and total interest payments over the life of your Wollongong property purchase.

With a 20% deposit ($252,000 on a $1.26 million property), you'll borrow $1,008,000. At current variable rates around 6% annually, monthly principal and interest repayments total approximately $6,000. Over 30 years, you'll pay roughly $510,000 in total interest.

Increasing your deposit to 30% ($378,000) reduces the loan to $882,000, cutting monthly repayments to $5,250 and total interest to $447,000. This also eliminates Lenders Mortgage Insurance, saving an additional $15,000–$25,000 upfront.

Fixed rate options currently sit slightly higher than variable rates but provide payment certainty. A 3-year fixed rate at 6.2% on $1 million would cost $6,100 monthly, protecting against rate rises during the fixed period.

Interest-only loans reduce initial repayments to $5,000 monthly on $1 million borrowed at 6%, but provide no principal reduction and typically revert to higher principal-and-interest rates after 5 years.

Your borrowing capacity depends on your income, existing debts, expenses, and deposit size. Most lenders apply a serviceability buffer of 2–3% above the actual rate when assessing applications.

If you plan to live there, what trade-offs make sense today for the best livability?

Living in Wollongong requires balancing location premium, property size, and condition within your budget constraints.

Coastal proximity commands significant premiums but delivers exceptional lifestyle benefits. North Wollongong offers the best compromise, providing beach access, CBD proximity, and transport links at $1.15 million median for houses. You'll sacrifice some space compared to inland suburbs but gain walkability to amenities.

Size versus location trade-offs are significant in Wollongong's market. A $1.2 million budget buys a renovated 3-bedroom house near the coast in North Wollongong, or a larger 4-bedroom property with more land in Fairy Meadow, 10 minutes further inland.

Condition compromises can unlock better locations. Older homes in premium suburbs like Thirroul or Austinmer may need $30,000–$60,000 in cosmetic updates but provide access to $1.6–$1.8 million neighborhoods at $1.3–$1.4 million entry points.

Transport connectivity varies significantly across suburbs. Properties within walking distance of Wollongong Central Station or main bus routes command 5–10% premiums but reduce commuting costs and time, particularly valuable for Sydney commuters.

School catchments influence family decisions significantly. Quality public schools can add $50,000–$100,000 to comparable properties, but provide long-term education savings and community benefits.

If you plan to rent it, what are realistic rental returns and net yields in each area?

Wollongong rental market performance varies significantly between property types and suburbs, with clear patterns emerging across different investment strategies.

Long-term rental yields favor budget suburbs over premium locations. Houses in Warrawong and Koonawarra deliver 4–5% gross yields, renting for $650–$750 weekly against purchase prices of $800,000–$900,000. Premium coastal properties in Coledale or Austinmer yield 3–3.5% despite commanding $900–$1,200 weekly rents.

Units consistently outperform houses on yield metrics across all suburbs. North Wollongong units purchased at $740,000 can rent for $580–$620 weekly, delivering 4.1–4.4% gross yields. Coastal units in Thirroul rent for $650–$750 weekly but require $850,000+ investments, reducing yields to 3.8–4.1%.

Short-term rental potential exists in beachside locations but requires careful analysis. Premium properties within walking distance of beaches can achieve $1,200+ weekly during peak summer months, but occupancy rates typically drop to 60–70% annually, requiring professional management costing 15–20% of gross income.

Net yields after expenses typically reduce gross returns by 1–1.5 percentage points. Annual costs include council rates ($1,800–$2,400), insurance ($800–$1,200), maintenance (1–2% of property value), and management fees if using agents (7–8% of rental income).

Vacancy rates remain low across most Wollongong suburbs at 2–3%, providing consistent rental income streams for well-located and maintained properties.

We did some research and made this infographic to help you quickly compare rental yields of the major cities in Australia versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.

If you plan to flip properties, what renovations and margins are achievable?

Property flipping in Wollongong requires strategic suburb selection, renovation scope management, and realistic timeline expectations to achieve profitable margins.

Cosmetic renovations targeting tired properties in growth suburbs offer the most reliable returns. Budget $30,000–$60,000 for paint, flooring, kitchen updates, and bathroom refreshes. These improvements typically add $80,000–$120,000 to property values in suburbs like Fairy Meadow or Wongawilli when executed professionally.

Structural renovations involving extensions or major reconfiguration cost $120,000–$250,000 but can unlock significant value in well-located properties. Adding a second bathroom or extending living areas can increase values by $150,000–$300,000 in suburbs with strong underlying demand.

Timeline management critically affects profitability. Cosmetic flips typically require 6–8 months including purchase, renovation, and resale. Major renovations extend timelines to 12–18 months, during which you'll pay holding costs of $2,000–$3,000 monthly including loan interest and rates.

Recent comparable sales suggest successful flips achieve 10–18% margins after all costs in growth suburbs. A $1 million purchase requiring $50,000 renovations should achieve $1.15–$1.2 million resales to generate acceptable returns after agent fees, legal costs, and holding expenses.

Risk management requires avoiding slow-growth suburbs like Bellambi or West Wollongong where price appreciation may not cover renovation costs and holding expenses during extended sale periods.

Which suburbs are most expensive, up-and-coming, and budget-friendly with recent sale examples?

1. **Most Expensive Suburbs** - Coledale: Houses $1.5–$2 million (oceanfront properties reaching $2.2 million) - Austinmer: Houses $1.6–$1.8 million (beachside proximity premium) - Thirroul: Houses $1.6–$1.8 million, units $850,000–$950,000 - Wombarra: Premium coastal, limited stock, $1.8–$2.2 million - Bulli: Established coastal, $1.5–$1.7 million houses2. **Up-and-Coming Suburbs** - Fairy Meadow: 8% house growth, median $1.1 million - Wongawilli: 7% growth, emerging family area - North Wollongong: 2.7% unit growth, transport accessibility - Koonawarra: Strong entry-level growth, median $850,000 - Mount Ousley: Infrastructure improvements driving interest3. **Budget-Friendly Options** - Warrawong: Houses $800,000–$900,000, units $500,000–$600,000 - Unanderra: Entry-level houses from $750,000 - Koonawarra: Houses $850,000, good growth potential - Port Kembla: Industrial proximity, houses $700,000–$850,000 - Berkeley: Affordable family homes, $750,000–$900,000

How have prices moved and what's the outlook for Wollongong property market?

Wollongong property market has demonstrated resilient growth patterns over multiple timeframes, with distinct variations between property types and suburbs.

Recent 12-month performance shows houses gaining 6% while units outperformed with 7.4% growth through August 2025. This contrasts with Sydney's broader market where apartments typically underperform houses, highlighting Wollongong's unique rental demand dynamics.

Five-year cumulative gains reach 25–32% across most suburbs, representing annual compound growth of 4.5–5.8%. Premium coastal areas like Coledale and Thirroul led this period but have moderated recently, while budget suburbs maintained steadier growth trajectories.

Ten-year performance data shows 65–70% cumulative appreciation, outpacing regional centers like Newcastle but trailing Sydney's premium suburbs. This positions Wollongong as a balanced market offering both lifestyle and investment returns.

Forward outlook for 1–3 years suggests continued moderate growth of 3–6% annually, supported by limited supply, ongoing Sydney spillover demand, and infrastructure improvements. The Illawarra region benefits from major transport and employment projects boosting long-term fundamentals.

Smartest current buys target up-and-coming suburbs with strong fundamentals. Fairy Meadow and Wongawilli offer growth momentum, while budget areas like Warrawong provide yield-focused opportunities. Premium coastal suburbs suit lifestyle buyers accepting lower rental returns for amenity access.

It's something we develop in our Australia property pack.

Conclusion

This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.

Sources

1. ReadySetBuy - Wollongong Real Estate Market Update 2025
2. Money.com.au - NSW Stamp Duty Calculator
3. Your Investment Property Magazine - Wollongong Suburbs
4. BambooRoutes - Wollongong Price Forecasts
5. Compare The Market - NSW Stamp Duty Calculator
6. RealEstate.com.au - Wollongong Market Data
7. SQM Research - Wollongong Asking Prices
8. View.com.au - Illawarra Market Outlook 2025