Wollongong house prices increase, rents up, building approvals climb
18 February 2019
The latest IRIS Research Real Estate Report (December 2018 quarter) for the Illawarra shows a moderate growth in property prices across the Wollongong Statistical District (WSD) over the year to September 2018.
Rental accommodation increased in cost,with the median rent for houses up by 3.7% to $560 per week and for units up 13.8% to $535 per week.
The value of commercial building approvals in the WSD saw a 39.3% boost to $312.3 million. Across the wider Illawarra Statistical District (ISD), the value of commercial approvals fell 24.3% to $380.2 million. This was due to significant falls in commercial investment in Shoalhaven and Wingecarribee over the year.
Dwelling approvals in the WSD during the year to September 2018 totaled 2,488, up 34.3%. Over the same period the number of dwelling approvals in the ISD lifted 26.8% to 3,824.
Read the full report on our Members-only Publication page