City on the Move: Wollongong's Growing Cityscape
Wollongong is on the rise, and with its thriving residential development pipeline, opportunities for investors, buyers, and developers continue to grow. As one of NSW's most dynamic regional cities, Wollongong remains a standout performer in the property market, offering lifestyle appeal and solid investment potential.
In this update, we break down Wollongong's 2024 market performance, upcoming trends for 2025, and key insights for buyers and developers looking to stay ahead.
Wollongong: Leading the Regional NSW Property Market in 2024
According to 2024 CoreLogic regional statistics, Wollongong continues to lead the way in NSW's property market, particularly in the apartment sector:
#4 Nationally among the most expensive regional areas for apartments.
563 unit sales recorded in 2024, totaling $453.8 million in value.
Median unit value sits at $762,563, placing Wollongong as the #1 regional market in NSW.
Second only to Port Macquarie in unit sales value, Wollongong plays a critical role in driving economic strength across the Illawarra region.
What This Means for Investors & Buyers
Wollongong's apartment market remains robust, presenting attractive opportunities for both homeowners and investors looking to capitalise on regional growth and sustained demand.
2025 Market Outlook: What to Expect
CoreLogic's predictions for 2025 paint an exciting picture for regional markets like Wollongong:
Early 2025: Buyer demand may stabilise, leading to a softening of price trends.
Mid-Year Boost: Expected interest rate cuts in mid-2025 could spark renewed buyer demand.
Affordable Unit Markets Thrive: Buyers seeking affordability will continue to drive growth in the apartment sector.
Lifestyle Migration: Wollongong's lifestyle appeal will attract urban buyers looking for a regional alternative.
Rental Market Strength: While growth may slow, Wollongong's constrained supply and high demand will maintain its strong rental appeal.
For buyers and investors, staying informed on these trends will be key to making well-timed decisions.
A Decade of Progress: Spotlight on Wollongong's CBD
Over the past 10 years, Wollongong's CBD has undergone a significant transformation with residential apartment projects lodged, under construction, and completed at an impressive rate.
Why This Matters
This steady development trajectory solidifies Wollongong's role as a regional leader and future-proof investment destination.
[Download the Full Development Pipeline Document – links to form] for a detailed look at Wollongong's growth and progress.
2024 Buyer Insights: What Homebuyers Want
With multiple developments settled this year, key buyer feedback has helped shape successful residential projects. By involving buyer preferences early in the planning stages, developers can make small but impactful design changes that boost appeal and sales potential.
Key Features Homebuyers are Looking For:
Set-back shelving in bathrooms for extra storage.
Large vanity mirrors with built-in storage.
Double vanities in ensuite bathrooms.
LED strip lighting for a modern bathroom finish.
Fully completed laundry rooms.
Induction cooktops for a contemporary kitchen feel.
Avoid walk-in shower and bathtub combinations (easier cleaning).
Appliances: Mid-tier brands like SMEG and Fisher & Paykel are popular, while Miele remains the gold standard for quality and longevity.
These insights reflect growing demand for functionality and quality finishes in mid-to-high-end developments. Developers who take note can meet - and exceed - buyer expectations.
Why Buying Off-the-Plan is Smart in 2025
As Wollongong's apartment pipeline grows, buying off-the-plan continues to offer compelling benefits for savvy buyers:
Lower Entry Costs: Smaller upfront deposits make purchasing more accessible.
Potential Capital Gains: Benefit from value growth during the construction phase.
Variety & Customisation: Choose layouts and finishes that suit your lifestyle.
[Download Our Off-Plan Buying Guide – links to form] for expert tips on making the most of your off-the-plan investment.
Stay Connected with Wollongong's Growth
As Wollongong continues to grow into 2025, staying informed is key to making smart investment and development decisions. MMJ Real Estate Wollongong is here to provide expert advice and market updates to help you stay ahead.
For tailored insights or project marketing advice, reach out to our team today.
MMJ Real Estate Wollongong
Your Local Experts in Off-the-Plan Residential Developments
