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
Are you considering investing in a property that promises both growth and lifestyle? Wondering why Wollongong is becoming a hotspot for real estate in 2025? Curious about the factors driving its rising popularity and value?
We will lay down recent insights, ici no guesswork, we rely only on solid data.
Actually, we know this market inside and out. We keep tabs on it regularly, and all our discoveries are reflected in the most recent version of the Australia Property Pack
1) Wollongong's real estate market is growing steadily with strong potential for future appreciation
Wollongong's real estate market is on the rise, and it's a great time to consider buying property there.
Over the past decade, house prices in Wollongong have skyrocketed by 118%, and experts predict they might hit the million-dollar mark by 2026. This growth is fueled by a mix of factors, including a bustling local economy and a vibrant community atmosphere that attracts new residents.
Wollongong is experiencing a surge in population growth, especially after COVID, thanks to overseas migration. This influx of people is not just about numbers; it's about the city's appeal, with its beautiful beaches and proximity to Sydney making it a desirable place to live. Plus, the city is on track with its job creation goals, boasting a 5.3% increase in local jobs in 2022-23, which naturally boosts housing demand.
For those looking to rent, the market is tight, with vacancy rates under 1%. This means properties are snapped up quickly, reflecting strong rental demand. In fact, rental prices have jumped by 7.4% over the past year, making it a hot spot for investors and first-time buyers alike.
Wollongong's charm isn't just in its numbers; it's in the lifestyle it offers. From its coastal beauty to its thriving arts scene, the city provides a unique blend of urban and natural attractions. This makes it not only a smart investment but also a wonderful place to call home.
Sources: Investorkit, Region Illawarra, Wollongong Council, View.com.au
2) Wollongong's diverse population enriches the city's vibrant culture
Wollongong's diverse population is a vibrant tapestry that makes the city truly unique.
In recent years, census data showed that 23.4% of Wollongong's residents were born overseas, and 24.4% spoke a language other than English at home. This mix of backgrounds and languages creates a multicultural environment where different traditions and perspectives thrive, making the city a melting pot of cultures.
The city comes alive with events like the Viva la Gong Festival, which isn't just about fun but also a celebration of its multicultural identity. Here, you can enjoy music, food, and performances from various cultures, showing Wollongong's commitment to embracing diversity. The presence of organizations like the Wollongong Multicultural Community Centre further supports this inclusivity, offering community support and fostering a sense of belonging.
Wollongong's food scene is a delicious reflection of its cultural diversity. The city is home to a variety of international cuisine restaurants, offering authentic dining experiences from Mediterranean to Thai, enriching the local food culture. Local food markets also provide platforms for diverse food vendors, adding to the city's vibrant culinary landscape.
Imagine strolling through a market where the aroma of spices from different corners of the world fills the air. This is Wollongong, where culinary diversity is celebrated and every meal is an adventure. The city's food scene is a testament to its rich cultural tapestry, offering something for every palate.
Whether you're enjoying a festival or dining at a local restaurant, Wollongong's cultural diversity is evident in every corner of the city. It's a place where different cultures not only coexist but also enrich the community, making it a vibrant and exciting place to live.
Sources: Macrotrends, University of Wollongong, Travel Triangle
Everything you need to know is included in our Pack for Wollongong
3) Major industries ensure stable jobs boosting Wollongong's housing market
In Wollongong, major industries are key to stable employment, which supports the housing market.
With sectors like health care, construction, and public administration booming, local jobs grew by 5.3% from 2022 to 2023. Even though the unemployment rate nudged up to 3.8% by the end of 2023, it’s still low, meaning most people can find work.
This job security directly impacts housing. Over the last decade, house prices in Wollongong have surged by 118%, reflecting strong demand. The rental market is tight too, with vacancy rates under 1% and rents climbing 7.4% in a year, driven by industry workers needing homes.
Industries like steel manufacturing and education are big job providers. The University of Wollongong, for instance, draws in students and staff, boosting housing demand. Infrastructure investments further support this growth, making Wollongong appealing for workers.
Sources: Wollongong Council Economic Insights, Investorkit Market Pressure Review, Wollongong Economy Unemployment Data
4) Wollongong hosts tech startups driving a vibrant innovative business scene
Wollongong is buzzing with tech startups, making it a lively place for business innovation.
At the heart of this excitement is iAccelerate, a business incubator at the University of Wollongong. In 2023, it supported 69 startups in fields like AI, health, and robotics. This facility has been a game-changer since 2016, helping 385 startups get off the ground.
Venture capital is flowing into the region, with a 53% increase in funding from 2020 to 2021. This influx of cash is fueling the growth of new businesses, making Wollongong a hotspot for entrepreneurs.
These startups are not just about tech; they’re creating jobs too. In 2023, iAccelerate companies added 72 local jobs, boosting the local economy. This has translated into $22.28 million in salaries and contractor payments, a significant economic impact.
Wollongong’s tech scene is more than just numbers; it’s about community and opportunity. The city offers a supportive environment for startups, with resources and networks that help new businesses thrive.
For anyone looking to invest in property, Wollongong’s vibrant tech sector is a promising sign. The city’s growth and innovation make it an attractive place to live and work.
Sources: Innovation Campus, University of Wollongong
5) Wollongong offers surfing and hiking for those seeking an active lifestyle
Wollongong is a paradise for outdoor lovers.
With its 17 stunning beaches, it's perfect for those who enjoy swimming and surfing. From September to April, these beaches become a hotspot, drawing in around 1.5 million sun-seekers who enjoy the waves under the watchful eyes of professional lifeguards. The vibe is always lively, and the surf culture is strong, making it a great place to catch some waves or just relax by the sea.
But it's not just about the beaches. Wollongong is surrounded by lush national parks, offering a variety of hiking trails. Whether you're exploring the picturesque Maddens Falls in Dharawal National Park or taking on the Mt Keira Ring Track, there's something for every hiker. The Royal Coastal Walk and Uloola Track in the Royal National Park offer breathtaking views, perfect for both casual day hikes and more adventurous treks.
Recently, Wollongong has become a magnet for those interested in outdoor activities. In 2023/24, the city saw a surge in international visitors, with over 2.1 million visitor nights recorded. This growing interest is backed by the city's commitment to enhancing outdoor experiences, like the award-winning All Ages All Abilities Playground and the introduction of an e-scooter trial, promoting sustainable transport options.
Sources: Visit Wollongong, Tourism Visitor Summary, Wollongong City Council Annual Report 2023-2024, Best of the Illawarra Hiking in Wollongong
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6) Wollongong's festivals and events drive tourism and increase short-term rental demand
Wollongong is buzzing with festivals and events, making it a magnet for tourists and a goldmine for short-term rentals.
In the lively Spring and Summer of 2024-2025, the city is set to host around 65 events, drawing in a wave of visitors. This surge in tourists is why short-term rentals are in high demand, especially during these vibrant seasons. Imagine the city alive with music, art, and culture, creating a perfect backdrop for a memorable stay.
Hosting major events is a big win for the local economy. Take the 2022 UCI World Road Championships, for instance, which brought in over 300,000 visitors and was watched by millions globally. Events like these not only attract tourists but also boost local businesses, as seen with bustling sales during the Bulli Village Market and the Illawarra Folk Festival.
Short-term rentals in Wollongong, particularly those on platforms like Airbnb, are cashing in on this trend. A typical rental is booked for 237 nights a year, with occupancy rates soaring during major events. This shows how the city's packed event calendar is a magnet for tourists, driving up the demand for places to stay.
For property investors, this means a steady stream of potential guests eager to experience Wollongong's vibrant scene. The city's reputation for hosting numerous festivals and events is a key factor in its appeal, offering a unique opportunity for those looking to invest in short-term rentals.
With so much happening, Wollongong is not just a place to visit; it's a place to experience. The city's dynamic atmosphere and diverse events make it a top choice for tourists and a lucrative spot for property owners.
Sources: Visit Wollongong, Wollongong Major Events Strategy 2021-2026, Airbtics, CEO Digital
7) Wollongong's growing public transport simplifies commuting for residents
Wollongong's public transport is getting better, making life easier for everyone.
The 'Gong Shuttle' service is a big part of this improvement, connecting key spots like Wollongong Station, hospitals, the CBD, the University of Wollongong, and the beaches. It's free to ride until June 2027, and in 2023, it carried over 2.2 million passengers, showing how popular it's become.
Wollongong City Council is also stepping up with increased funding and new initiatives. They've invested in about 700 projects, including extending shared paths and footpaths and building new infrastructure to tackle flood risks. These efforts are all about making it easier and safer for folks to hop on public transport.
More frequent services and longer operating hours are also part of the mix. The 'Gong Shuttle' now runs every 10 minutes during peak times and every 20 minutes during off-peak hours, so waiting times are shorter and planning your commute is a breeze.
These changes are making public transport a more attractive option for residents, with better accessibility and convenience than ever before.
With these improvements, Wollongong is becoming a place where getting around without a car is not just possible but easy and enjoyable.
Sources: Bus News, Wollongong City Council
8) Wollongong's growing retail and dining scene enhances amenities for residents
Wollongong is buzzing with new places to eat and shop, with over 65 new cafes and small bars popping up in the city center.
This surge has turned the area into a lively spot, especially at night, thanks to the popular weekly night market that draws both locals and tourists. Foot traffic in Wollongong's central business district has increased, unlike cities like Melbourne, which are still trying to bounce back to pre-pandemic levels.
People are spending more on dining and entertainment, making these the top spending categories in 2023. This trend shows a strong retail and dining scene that's thriving and growing.
Big investments in commercial infrastructure are a game-changer here. Over $1.3 billion has been poured into development projects, including a major upgrade to Wollongong Central.
This upgrade added new specialty stores and a supermarket, enhancing the shopping and dining experience and drawing more visitors.
These developments are not just about new stores; they're boosting the local economy by attracting more people to the area. Wollongong's retail and dining options are expanding, offering more amenities to residents.
Sources: UOWTV, LPC, Visit Wollongong, Wollongong Council
Everything you need to know is included in our Property Investment Pack for Wollongong
9) Wollongong's infrastructure boom has greatly enhanced transport links and accessibility
Wollongong has been buzzing with infrastructure upgrades, making it easier to get around.
Take the Gong Shuttle Bus Service, for example. This handy service, partly funded by the University of Wollongong, is a lifeline for the city. It connects key spots like the university campuses and the CBD. In 2023, it ferried over 2.2 million passengers, cutting down on traffic and pollution while keeping everyone moving smoothly.
Public transport has also gotten a boost. Thanks to Transport for NSW, trains on the South Coast Line now run more frequently. This is part of the More Trains, More Services program, which rolled out new trains and added over 1,700 extra weekly services. It's now a breeze to travel between Wollongong and Sydney, making life easier for both locals and visitors.
Wollongong's Infrastructure Delivery Program is another game-changer. From 2022 to 2028, the city has launched hundreds of projects. These include extending pathways, managing flood risks, and building new community facilities. Such initiatives are not just about transport; they're about boosting the quality of life for everyone in Wollongong.
These developments are reshaping the city, making it more accessible and convenient. Whether you're commuting to work or exploring the area, getting around has never been easier. The focus on infrastructure is not just about today but also about setting up Wollongong for a brighter future.
With all these improvements, Wollongong is becoming a more attractive place to live and invest in. The city's commitment to enhancing its infrastructure is clear, and it's paying off in terms of better connectivity and livability.
Sources: UOW to help keep Gong Shuttle running, More Trains, More Services | Transport for NSW, Attachment 2 Infrastructure Delivery Program 2024-2025 – 2027-28
10) Wollongong's healthcare facilities are expanding to deliver top services to a rapidly growing population
Wollongong is seeing a boom in its healthcare facilities, thanks to significant investments and strategic planning.
The Minns Labor Government has been proactive, allocating $21.9 million for upgrades and redevelopment of Wollongong Hospital. Meanwhile, a massive $780 million project for Shellharbour Hospital is underway, which includes the new Warrawong Community Health Centre.
This is all part of a larger plan to boost the Wollongong Health Precinct. The NSW Government is working on a place-based strategy to ensure Wollongong Public Hospital meets the community's needs. They're involving staff, clinicians, and residents in ongoing consultations to shape the project's future.
Wollongong City is growing, with a population increase of about 1.25% as of mid-2023. This growth means more people need healthcare services, and the government is stepping up with these expansions and upgrades to meet the demand.
These developments are not just about adding more beds or buildings; they're about creating a healthcare system that can handle the increasing demand from a growing population. The focus is on quality services that cater to the community's evolving needs.
With these strategic investments, Wollongong is positioning itself as a hub for quality healthcare, ensuring that residents have access to the services they need as the city continues to expand.
Sources: Healthcare Asia Magazine, Profile ID, NSW Government Media Releases, NSW Planning
11) Wollongong's mild climate draws people seeking to escape harsh weather
Wollongong offers a mild and pleasant climate, perfect for those wanting to escape harsher weather.
With an average annual temperature of 17.5°C (63.5°F), Wollongong is milder than many other Australian regions. In January, the warmest month, temperatures average 21.8°C (71.3°F), while July, the coldest month, sees averages of 12.8°C (55°F). This makes it a comfortable choice for year-round living.
Compared to cities like Melbourne, where January averages a cooler 14°C (57°F), Wollongong's climate is a major draw. This milder weather is a big reason why people are moving here, seeking to avoid the extremes found elsewhere.
Real estate trends show a growing interest in Wollongong, with many new residents citing the climate as a key reason for their move. The demand for properties is rising, and testimonials often highlight the mild summers and cool winters as ideal living conditions.
Tourism statistics reveal that Wollongong's pleasant weather attracts visitors all year, eager to enjoy outdoor activities like surfing and hiking. Media articles frequently praise the climate, emphasizing its appeal to those seeking a comfortable lifestyle.
The growth of outdoor recreational activities in the area further underscores the benefits of Wollongong's mild climate, making it a hotspot for those who love the outdoors.
Sources: Climates to Travel, Climate Change Environment NSW, Wanderlog
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12) Sustainable development by the local government boosts property desirability in Wollongong
Wollongong is making waves with its focus on sustainable development, which is turning heads in the property market.
The local government is serious about going green, aiming for net zero emissions by 2050 for the community and even sooner, by 2030, for its own operations. This bold move is a magnet for eco-conscious buyers who value a reduced carbon footprint. Imagine living in a place where the air is cleaner and the community is committed to a greener future.
Getting around Wollongong is set to become a breeze, thanks to plans to expand the cycling network by 2030. This means more bike lanes and better public transport, making it easier to ditch the car. Less traffic and more cycling options not only improve daily life but also make the area more appealing to those looking to buy property.
Wollongong's Urban Greening Program is another game-changer, aiming to boost tree canopy cover from 17% to 35%. More trees mean more shade, cleaner air, and beautiful parks for everyone to enjoy. These green spaces are not just good for the environment; they also make the city a more desirable place to live, potentially increasing property values.
All these efforts show Wollongong's commitment to being a sustainable and livable city. The focus on eco-friendly initiatives is a big draw for potential buyers who want to invest in a community that values the environment and quality of life.
With these initiatives, Wollongong is not just talking about sustainability; it's making it a reality. This proactive approach is likely to make properties in the area more attractive to buyers who prioritize a sustainable lifestyle.
Sources: Wollongong City Council Climate Change Mitigation Plan, UCI Article on Wollongong Cycling Plan, Wollongong Urban Greening Program
13) Local government invests in urban renewal projects boosting Wollongong's appeal and livability
The local government in Wollongong is pouring resources into urban renewal projects to make the city more attractive and livable.
One major initiative is the Infrastructure Delivery Program, running from 2022 to 2026, which includes around 700 projects. Among these is the new Warrawong Community Centre and Library, designed to support growth in the West Dapto Urban Release Area. This area is set to become a vibrant community hub, offering residents modern amenities and a sense of community.
Public transport is also getting a boost with improvements to the Illawarra rail line. More carriages are being added to ease overcrowding, and new ramps in Dapto are being developed to improve vehicle flows. These upgrades are essential for making the city more accessible and enhancing its livability.
The Cultural Infrastructure Plan 2025+ is another key part of these renewal efforts. This plan aims to breathe new life into neighborhoods by integrating cultural infrastructure into major developments. It focuses on restoring heritage buildings and creating community hubs, which not only enhance the city's charm but also boost the local economy by attracting visitors and creating jobs.
These projects are transforming Wollongong into a more appealing place to live and visit. The local government is committed to making the city a vibrant and accessible destination, with a focus on community and culture.
Sources: Wollongong City Council, Paul Scully MP, NSW Government
14) Wollongong invests in schools making it ideal for families with children
Wollongong is investing heavily in education, making it a magnet for families with kids.
In 2023, Wollongong Public School got a big boost in funding to support refugee students and promote socio-economic equity. This shows the city's dedication to creating an inclusive learning environment for all. The school is not just about academics; it's about building a community where every child feels they belong.
The University of Wollongong is also in the spotlight with a major funding injection for 2024-2025. This isn't just about improving higher education quality; it's about offering a range of specialized programs. For families, this means more diverse educational opportunities for their children, right in their backyard.
Government school enrollments are on the rise in New South Wales, and Wollongong is no exception. This uptick signals that families are flocking to areas with strong educational facilities. It's not just about numbers; Wollongong Public School reports high student attendance and wellbeing, making it a desirable choice for parents.
Wollongong's educational landscape is evolving, with a clear focus on quality and inclusivity. The city's commitment to education is evident in its strategic investments, which are designed to attract and retain families. Positive student performance metrics further reinforce the city's appeal as a family-friendly destination.
Sources: Wollongong Public School Annual Report 2023, University of Wollongong Funding Agreement 2024-2025, NSW Government Schools and Students Statistical Bulletin 2023
Everything you need to know is included in our Real Estate Pack for Wollongong
15) The University of Wollongong draws many students boosting demand for rentals
The University of Wollongong is a magnet for students, driving up the need for rental properties in the area.
In 2022, the university had 31,908 students enrolled, with a significant portion of them being international students. This influx of students, especially the 21,196 in Wollongong itself, naturally creates a bustling demand for both on-campus and off-campus housing.
The university is not just resting on its laurels; it's actively expanding with projects like the Innovation Campus. These efforts are designed to attract even more students and professionals, which means the demand for rental properties is only going to grow. Plus, with the university's focus on personalized support, more students might choose to live off-campus, further boosting the rental market.
Wollongong's rental market is already feeling the heat, with a median occupancy rate for short-term rentals at 65% and an average daily rate of AU$256. These numbers indicate a strong rental yield, making the area a hot spot for property investors.
The presence of a significant young adult population in Wollongong adds to this demand, as students and young professionals are always on the lookout for housing options close to the university. This dynamic creates a vibrant rental market, ripe with opportunities for those looking to invest.
Sources: University of Wollongong Vision & Strategy, Airbtics, University of Wollongong Enrollment Data
This article gives you valuable insights, but remember, it’s not and will never be investment advice. We pull data from a range of sources to provide you with the most accurate picture possible, yet we can’t guarantee complete accuracy. Markets are difficult to predict. Make sure to do your own research and consult a professional before making any financial moves. Any risks or losses are your own responsibility.
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