We’ve talked about the importance of research to identify properties with strong capital growth and high rental yield. Today we are looking in depth at Wollongong and the Illawarra region – an area that DPN’s research team believe has strong investment potential. Read on to find out why.
Once a gritty steel town, Australia’s tenth largest city has reinvented itself as a thriving education, healthcare and tourism hub, and savvy investors are taking notice.
Wollongong lies 82 kilometres south of Sydney on a narrow coastal strip between the rugged Illawarra Escarpment and the sea. A flourishing and diverse food scene is one of Wollongong’s major attractions, along with a string of 17 beautiful beaches.
According to the City Council, the population will soon reach the 300,000 mark and the Wollongong Local Government Area is forecast to grow by 16.5% over the next 20 years. Much of this growth is Sydneysiders exiting because of the lack of housing affordability, traffic congestion and long commute times.
This population growth will see new communities emerge. West Dapto will be a major centre of future growth with plans for 19,000 new dwellings and 50,000 more people within 40 years. New residential areas are also being developed further south around the Albion Park and Shell Cove areas.
Our Why Invest in Wollongong report is jam-packed with information and data about the region. Here are the top four reasons why Wollongong should be on every property investor’s radar.
- Employment has soared in medical services, higher education, hospitality and construction.
- Wollongong University will have its own health and wellbeing precinct on its Innovation Campus, which is due to open in 2022.
- More exciting projects include an upgrade to WIN Entertainment Centre and an adventure playground for Mount Keira.
- It’s now Australia’s 10th largest city with a population of almost 300,000 and it’s forecast to grow 16.5% over the next 20 years.
With so much going on now and in the future, Wollongong is a solid choice for investors.
Read more in DPN’s comprehensive research report: Why Invest in Wollongong.
You can contact DPN for investment opportunities in Wollongong.
Report data sources: RESIDEX™, CoreLogic, Illawarra Mercury, Huffington Post, University of Wollongong, Wollongong City Council, ABS Census 2016, Property Observer.
Disclaimer: Chan & Naylor take no responsibility for the accuracy of any research material of contributors to our newsletter. Contributions to our newsletter are meant to be educational only and Chan & Naylor does not endorse any promotional material promoted in their articles. Readers should do their own research to determine the accuracy of their material.