Wollongong (postcode 2500) is a sizeable suburb in New South Wales within the Wollongong local government area. It is home to about 20,446 residents, with a mix of young professionals and families and a median age of 35. Households earn a median income of $81K per year, with an average household size of 2 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.0% year-on-year at the LGA level. NSW employment has moved +0.3% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. NSW also had 37 Commonwealth-backed major projects under construction, 5 underway, and 75 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, community & personal service, managers. Employment in the area leans toward healthcare and education. The top ancestries reported are English, Australian, Irish.
Median house prices in Wollongong stand at $1.3 million, having risen by 4% over the last twelve months. Units have a median price of $795,000 (+7.8% YoY). The current median weekly rent is $650. This gives a gross rental yield of approximately 2.6%. The median monthly mortgage repayment is $1,950.
Wollongong is served by 8 schools, including 4 primary, 2 secondary, 2 special. The average ICSEA score is 1069, which is above the national average of 1,000. Public transport access includes 2 rail stations, 82 bus stops. Healthcare facilities include 2 public and 4 private hospitals. The crime rate in the Wollongong LGA is below average at 3,563 incidents per 100,000 population.
From an investment perspective, Gross rental yield sits at around 2.6% (low yield). Property prices are near the state median ($1.3M/$1.5M). The price-to-income ratio of 16.1x is considered stretched. House prices have moved +4.0% year-on-year. Population growth of +1.0% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.