There really is a lot to love about Wollongong. From the picturesque coastline to the thriving hospitality and tourism industries, there is no shortage of things going on. It really is no surprise that the area has become so attractive to so many people.
However, this is a relatively new phenomenon. Not that long ago, Wollongong was seen as a gritty industrial town, dominated by mining and steel works. While it brought in people from all over the world, this was mostly due to the employment opportunities in the area.
With this in mind, the transformation Wollongong has undergone over the last few decades is truly amazing. Now, if you ask residents or regular visitors about the place, they will be much more complimentary. Whether they mention the beautiful beaches, buzzing cafes, or world-class University, they are sure to be optimistic about the area’s future.
And this optimism has been infectious, with Wollongong now seen as one of NSW’s leading lifestyle destinations. Sitting about 80km South of Sydney and with great transport links, it is a highly accessible and commutable location. Despite this, it still feels a world away, with its classically relaxed coastal vibe.
All of this makes Wollongong a great option for investors. However, with many areas still undergoing rejuvenation, properties need to be chosen carefully, with a clear focus on potential returns.
Luke and Julian each have over 20 years of property investment experience.
Ask almost any professional buyers agent about the Wollongong property market and you are sure to get a positive response. After years of being a modest performer, it has really gathered steam over the last decade or so. But, as is true for any area that’s undergone significant rejuvenation, the local property market remains varied.
While this can make finding a great investment property challenging, it also provides astute investors with plenty of opportunities. Long-range forecasts suggest sustained growth for Wollongong, which is great for those taking a longer-term view. But, knowing where to look – and when to buy – is critical.
If you are after growth potential, it is best to look for emerging suburbs that are still undergoing change. These areas tend to be fairly affordable and particularly popular with younger buyers, who see the long-term potential. Great local amenities and a notably more expensive neighbouring suburb are usually signs of an area with significant potential.
For those looking for great rental yields, suburbs in and around the University and CBD usually provide great opportunities. For example, West Wollongong and Coniston are highly desirable for renters thanks to their location. Similarly, properties in Corrimal, which is situated a little further North, tend to be relatively affordable and popular with renters.
As buyers advocates, our role is to make sure our clients are getting the best return for their investment dollar. With that in mind, we see what we do in quite simple terms – we identify and secure great investment properties.
This clarity of purpose really helps us to focus on the things that matter. Our approach has been refined over two decades of practical investment experience and is designed to deliver efficient and sustainable growth. It is also built on our belief that property investment should be available to a wider range of people.
With all of this in mind, when you work with us, you can expect structured, tailored support. We want to help you to achieve your specific investment and financial goals, whatever they may be. We also want you to be the strongest investor possible and will help you to develop your knowledge and skills.
You can also expect a streamlined, stress-free experience. We are passionate about property and will do all of the hard, time consuming work for you. From researching potential properties to arranging inspections, and even negotiating the terms of the purchase, we do it all.
If you have always thought about getting into property investment, there is truly no time like the present. There are great opportunities throughout Wollongong, and right across the country, and we can help you find them. For more information on where to start, and how we can help, contact the Search Party Property team.