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
If you're thinking about buying a property in Wollongong in 2026, you're probably wondering whether prices are too high, whether a crash is coming, or if you should just wait it out.
In this article, we break down the current housing prices in Wollongong, supply and demand signals, rental market tightness, and what local changes could affect values in the coming months.
We constantly update this blog post with fresh data and new market developments, so you're always looking at the latest picture.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Wollongong.
So, is now a good time?
As of early 2026, buying property in Wollongong is a "rather yes" decision, meaning conditions favour buyers who plan to hold for five years or more.
The strongest signal is that Wollongong's rental market remains extremely tight, with rents rising around 7 to 9 percent over the past year, which shows genuine demand outpacing supply.
Another strong signal is that asking prices are up roughly 10 percent year-on-year, yet the NSW Government still describes the region as structurally undersupplied.
Supporting factors include the Wollongong Station Precinct upgrade, the Health Precinct development attracting jobs, and a mismatch between the housing stock (mostly 3 to 4 bedroom homes) and the growing number of smaller households who need 1 to 2 bedroom options.
If you want the safest approach in Wollongong in 2026, consider detached houses in family-friendly suburbs like Keiraville, Balgownie, or Figtree, or well-located 2-bedroom units with parking near UOW, the Health Precinct, or the CBD for strong rental demand and easier resale.
This is not financial or investment advice, we don't know your personal situation, and you should always do your own research before making any property decision.
Is it smart to buy now in Wollongong, or should I wait as of 2026?
Do real estate prices look too high in Wollongong as of 2026?
As of early 2026, Wollongong property prices sit at stretched levels compared to local incomes, with houses around 15 times the median household income and units around 9 times, which is high but not bubble territory.
One clear signal from the listings data is that well-priced properties in Wollongong are still selling reasonably quickly, which suggests buyers are willing to pay current prices when the property ticks the right boxes.
However, overpriced listings or those with flaws (poor parking, awkward layouts, noisy roads) are sitting longer on the market, which tells you Wollongong buyers in 2026 are selective and won't overpay for the wrong property.
You can also read our latest update regarding the housing prices in Wollongong.
Does a property price drop look likely in Wollongong as of 2026?
As of early 2026, the likelihood of a meaningful property price drop in Wollongong over the next 12 months is low to medium, mainly because the market remains structurally tight with rising rents and limited supply.
The plausible range for Wollongong property prices over the next year sits somewhere between a 5 percent decline in some segments (like higher-priced coastal homes) and a 7 percent gain if demand stays strong.
The single macro factor that would most increase the odds of a price drop in Wollongong is a further tightening of credit conditions, especially with APRA's new debt-to-income limits kicking in from February 2026.
This credit tightening is highly likely to happen because APRA has already confirmed the February 2026 start date, and it will reduce borrowing power for the most stretched buyers, which could cool bidding at the top end of the Wollongong market.
Finally, please note that we cover the price trends for next year in our pack about the property market in Wollongong.
Could property prices jump again in Wollongong as of 2026?
As of early 2026, there is a medium likelihood of another price surge in Wollongong within the next 12 months, especially if interest rates fall faster than expected or if rental pressure keeps pushing investors back into the market.
The plausible upside for Wollongong property prices over the next year could reach 8 to 12 percent if credit easing combines with continued undersupply.
The single biggest demand-side trigger that could make Wollongong prices jump again is a meaningful cut to interest rates, which would immediately boost borrowing power and pull more buyers into the market.
Please also note that we regularly publish and update real estate price forecasts for Wollongong here.
Are we in a buyer or a seller market in Wollongong as of 2026?
As of early 2026, Wollongong leans toward a seller market overall, but it's not as easy for sellers as it was during the peak boom years because affordability constraints are starting to bite.
While we don't have a precise months-of-inventory figure for Wollongong from open sources, the combination of rising prices and rising rents strongly suggests inventory is below the 4 to 6 months level that typically signals a balanced market, which gives sellers more leverage.
Price reductions are happening on some Wollongong listings, particularly those that are overpriced or have issues, but well-located and fairly priced properties are still attracting competitive interest, which means sellers with good stock maintain strong bargaining power.
We have made this infographic to give you a quick and clear snapshot of the property market in Australia. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
Are homes overpriced, or fairly priced in Wollongong as of 2026?
Are homes overpriced versus rents or versus incomes in Wollongong as of 2026?
As of early 2026, Wollongong houses look moderately overpriced compared to both rents and incomes, while units appear closer to fair value based on their rental yields.
The price-to-rent ratio for Wollongong houses sits around 33 times annual rent, which is well above the 20 to 25 times ratio typically seen in a balanced market, whereas units are closer to 25 times, which is stretched but not extreme.
The price-to-income multiple for Wollongong houses is roughly 15 times median household income, far above the 4 to 5 times ratio considered affordable, while units at around 9 times are still high but more accessible for local buyers.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Wollongong.
Are home prices above the long-term average in Wollongong as of 2026?
As of early 2026, Wollongong property prices are running above their long-term average growth rate, with the past 12 months showing gains of roughly 10 to 12 percent compared to a 10-year average of around 6 to 8 percent per year.
The recent 12-month price change in Wollongong (roughly 10 percent for houses and 11 percent for units) is noticeably faster than the pre-pandemic pace, which typically sat in the 5 to 7 percent range.
In inflation-adjusted terms, Wollongong prices appear to be at or slightly above their prior cycle peak, which means buyers should be careful not to overpay for properties with flaws that could hurt resale value if momentum slows.
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What local changes could move prices in Wollongong as of 2026?
Are big infrastructure projects coming to Wollongong as of 2026?
As of early 2026, the biggest infrastructure project likely to impact Wollongong property prices is the Wollongong Station Precinct Master Plan, which aims to improve walkability, public spaces, and connections between the train station and CBD, potentially boosting values in nearby suburbs like North Wollongong, Gwynneville, and Coniston.
The timeline for the Wollongong Station Precinct project involves a draft master plan currently under public feedback, with construction likely to follow over several years depending on final approval and funding allocation from Transport for NSW.
For the latest updates on the local projects, you can read our property market analysis about Wollongong here.
Are zoning or building rules changing in Wollongong as of 2026?
The most important zoning change being discussed in Wollongong is the City Centre planning proposal, which is currently under assessment by NSW Planning and could eventually allow greater height and density in the CBD area.
As of early 2026, if the city-centre controls are relaxed, the likely effect would be increased future apartment supply, which could moderate unit price growth in CBD-adjacent areas but also create new buying opportunities for those seeking modern stock.
The areas most affected by these potential rule changes in Wollongong would be the CBD itself and immediately surrounding suburbs like Wollongong city centre, North Wollongong, and Coniston, where higher-density development could become more common.
Are foreign-buyer or mortgage rules changing in Wollongong as of 2026?
As of early 2026, the main rule change affecting Wollongong property buyers is on the mortgage side, with APRA's new debt-to-income limits starting February 2026, which will reduce borrowing power for highly leveraged buyers and could cool demand at higher price points.
There are no major foreign-buyer rule changes specific to Wollongong currently being discussed, as foreign-buyer demand tends to be a smaller factor in this regional market compared to inner Sydney.
The key mortgage rule change is APRA's DTI cap, which limits the share of new loans that banks can write at very high debt-to-income levels, effectively acting as a speed limiter on the most stretched borrowers.
You can also read our latest update about mortgage and interest rates in Australia.
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.
Will it be easy to find tenants in Wollongong as of 2026?
Is the renter pool growing faster than new supply in Wollongong as of 2026?
As of early 2026, renter demand in Wollongong appears to be growing faster than new rental supply, which is why rents have risen 7 to 9 percent over the past year and vacancy remains tight.
The clearest signal of renter demand in Wollongong is the growing number of smaller households (single people and couples) who need 1 to 2 bedroom rentals, while most of the existing housing stock consists of larger 3 to 4 bedroom homes.
New rental supply in Wollongong has not kept pace with this demand, as construction of smaller dwellings has lagged and the city-centre planning changes that could unlock more apartments are still under assessment.
Are days-on-market for rentals falling in Wollongong as of 2026?
As of early 2026, well-priced rentals in Wollongong are leasing quickly, typically within 10 to 20 days in high-demand areas, which is consistent with a tight market where tenants compete for limited stock.
The difference in leasing speed between the best areas in Wollongong (like North Wollongong, Keiraville, and near the CBD) and weaker locations can be significant, with premium spots leasing in under two weeks while overpriced or poorly located rentals may sit for a month or more.
The main reason days-on-market stays low in Wollongong is persistent undersupply, as more renters are looking for homes than there are properties available, especially smaller units suited to single people and couples.
Are vacancies dropping in the best areas of Wollongong as of 2026?
As of early 2026, vacancy rates in Wollongong's best rental areas like North Wollongong, Keiraville, Gwynneville, and near the CBD remain structurally low and show little sign of easing because these locations combine beach access, university proximity, and good transport links.
These top-performing areas in Wollongong tend to have even tighter vacancy than the broader market, as tenants prioritise lifestyle and convenience, which keeps competition fierce for any available listing.
One practical sign that the best areas are tightening first in Wollongong is that landlords in North Wollongong and Keiraville can now ask for higher rents with less pushback, whereas landlords in less desirable spots still need to price competitively to attract tenants.
By the way, we've written a blog article detailing what are the current rent levels in Wollongong.
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Am I buying into a tightening market in Wollongong as of 2026?
Is for-sale inventory shrinking in Wollongong as of 2026?
As of early 2026, we do not have access to a precise monthly inventory count for Wollongong from open sources, but the combination of rising prices and rising rents strongly suggests that for-sale stock remains constrained compared to buyer demand.
Based on market behaviour, Wollongong appears to be operating below the 4 to 6 months of supply that would typically indicate a balanced market, which means buyers face competition and sellers maintain leverage.
The most likely reason inventory remains tight in Wollongong is that existing homeowners are reluctant to sell and re-enter an expensive market, while new construction has not kept pace with household formation.
Are homes selling faster in Wollongong as of 2026?
As of early 2026, well-priced homes in Wollongong are selling at a reasonable pace, with quality properties in good suburbs likely moving within 30 to 45 days, though overpriced or flawed listings can sit much longer.
The year-over-year change in selling speed in Wollongong is likely flat to slightly slower, as APRA's upcoming DTI limits and stretched affordability make some buyers more cautious, creating a two-speed market where A-grade stock moves fast while B-grade stock lingers.
Are new listings slowing down in Wollongong as of 2026?
As of early 2026, we are not confident in providing a precise year-over-year new listings figure for Wollongong because open-access data on this metric is limited, but overall conditions suggest listing flow is constrained rather than flooding the market.
Wollongong typically sees stronger listing activity in spring (September to November) and autumn (March to May), and the current level appears consistent with seasonal patterns rather than an unusual surge or drought.
The most plausible reason new listings are not picking up in Wollongong is that homeowners locked into older, lower mortgages are reluctant to sell and buy again at today's prices and rates.
Is new construction failing to keep up in Wollongong as of 2026?
As of early 2026, new construction in Wollongong appears to be falling short of household demand, particularly for smaller 1 to 2 bedroom dwellings suited to the growing number of single-person and couple households.
The trend in new housing approvals and completions in Wollongong has been modest relative to population growth and household formation, which is why the NSW Government continues to describe the region as undersupplied.
The single biggest bottleneck limiting new construction in Wollongong is the mismatch between zoning controls (which have historically favoured low-density housing) and the demand for higher-density, smaller dwellings, though the city-centre planning proposal could help address this over time.
We made this infographic to show you how property prices in Australia compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
Will it be easy to sell later in Wollongong as of 2026?
Is resale liquidity strong enough in Wollongong as of 2026?
As of early 2026, resale liquidity in Wollongong is reasonably strong for mainstream property types like detached houses in established suburbs and well-located 2-bedroom units, because the buyer pool remains deep and active.
The median days-on-market for resale homes in Wollongong likely sits in the 30 to 50 day range for fairly priced properties, which is consistent with healthy liquidity rather than a stuck market.
The property characteristic that most improves resale liquidity in Wollongong is location, with homes in family-friendly suburbs like Figtree, Keiraville, Balgownie, and Mount Pleasant, or units near the CBD and university, attracting the widest range of buyers.
Is selling time getting longer in Wollongong as of 2026?
As of early 2026, selling time in Wollongong may be getting slightly longer compared to last year, particularly for higher-priced properties and those with flaws, as affordability constraints and tighter credit conditions make buyers more selective.
The current median days-on-market in Wollongong probably ranges from around 25 to 30 days for well-priced, desirable homes up to 60 days or more for overpriced or compromised listings.
One clear reason selling time can lengthen in Wollongong is stretched affordability combined with APRA's new DTI limits, which reduce the pool of buyers able to stretch to higher price points.
Is it realistic to exit with profit in Wollongong as of 2026?
As of early 2026, the likelihood of selling with a profit in Wollongong is medium to high if you hold for at least 5 to 7 years, because long-term growth rates have averaged 6 to 8 percent annually over the past decade.
The minimum holding period that typically makes exiting with profit realistic in Wollongong is around 5 years, which allows enough time for price appreciation to cover transaction costs and absorb any short-term market dips.
The total round-trip cost of buying and selling in Wollongong (including stamp duty, legal fees, agent commissions, and other charges) typically adds up to around 8 to 10 percent of the property value, or roughly A$100,000 to A$125,000 on a A$1.25 million house (approximately US$80,000 to US$100,000 or EUR$75,000 to EUR$95,000).
The factor that most increases profit odds in Wollongong is buying in high-demand locations with enduring appeal, like detached houses in family suburbs near good schools or 2-bedroom units with parking close to UOW, the Health Precinct, or the CBD.
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What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Wollongong, we always rely on the strongest methodology we can and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why we trust it | How we used it |
|---|---|---|
| SQM Research (asking prices) | Long-running Australian property research firm with published methodology and consistent data. | We used it to estimate current asking prices for houses and units in Wollongong. We also used the 1-year and 10-year growth rates to compare today's market to long-run trends. |
| SQM Research (weekly rents) | Same research firm, focused on frequently updated advertised rental market data. | We used it to estimate current weekly rents for houses and units. We used the 12-month rent change figures as a real-time indicator of rental pressure. |
| NSW Government (Homes NSW) | Official NSW Government publication with demographic and housing indicators for the region. | We used it to anchor the story around structural demand and supply, including household mix and stock mismatch. We also used the vacancy-rate data to assess rental tightness. |
| Transport for NSW | State transport agency's official project page with confirmed timelines and plans. | We used it to identify infrastructure upgrades that can change micro-markets near the station and CBD. We used it to pinpoint which neighbourhoods may benefit most. |
| NSW Planning Portal | Official portal tracking statutory planning proposals across NSW. | We used it to flag that city-centre controls are under assessment. We used it as a watch item for future apartment supply affecting unit prices. |
| Wollongong City Council LSPS 2025-2045 | Council's adopted long-term land-use strategy published via NSW planning system. | We used it to understand where growth is intended and what housing types are encouraged. We tailored our local changes section to Wollongong's actual policy direction. |
| NSW Planning (Health Precinct) | Official NSW Government planning page for a major precinct initiative. | We used it to support the claim that the Health Precinct is a state focus area. We used it to identify nearby suburbs likely to see sustained rental and owner-occupier demand. |
| APRA | Australia's banking regulator with direct control over mortgage credit availability. | We used it to assess whether credit conditions may tighten in 2026. We used it as a downside-risk factor for highly leveraged buyers. |
| Reuters | Global wire service that summarizes regulator actions with clear dates and numbers. | We used it to cross-check the timing and threshold of the APRA DTI rule. We used it only to confirm what APRA itself announced. |
| Australian Bureau of Statistics | Australia's official statistics agency with authoritative measurement methodologies. | We used it to keep our rent discussion grounded in how rents are measured. We used it as a methodological check alongside SQM and NSW data. |
| atlas.id (Census-derived) | Transparently reports ABS Census-derived local indicators widely used by councils. | We used it to estimate local purchasing power and compute price-to-income ratios. We used it only for the income figure, not for price forecasts. |
| realestate.com.au | Major Australian property portal with large coverage of listings and market summaries. | We used it as a cross-check on ballpark medians and recent growth visible to everyday buyers. We triangulated SQM's asking prices with this second mainstream dataset. |
| NSW DCJ Rent and Sales Report | NSW DCJ states this dashboard is the authoritative source for NSW rent movements. | We used it to ensure our approach matches official NSW rental and sales reporting structures. We validated that Wollongong sits in a tight NSW market context. |
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Australia. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
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