Wollongong's Figtree among top 10 for best 2016 growth in median value change: CoreLogic
Figtree, an inner west suburb of Wollongong, figured in CoreLogic’s top 10 list of suburbs for units with the most change in value in the 12 months up to September 2016.
Figtree (postcode 2525) was at number seven on the top 10 list in CoreLogic’s Best of the Best 2016 report. It had a median price of $496,924 with a change of 25.6 percent. The suburb saw 33 transactions during the period and units comprised about 6 percent of the total number of homes.
Its population was just over 10,000, according to ABS Census 2011.
Property Observer looked up some sales around the median price and recent sale history.
A three-bedroom unit at 1/10 William Street Figtree, NSW, 2525 sold in April 2016 for $495,000, according to RP Data. The selling agency was Spinelli Real Estate. It previously sold for $335,000 in 2012, reflecting a change in value of 47.8 percent in four years or an annual growth rate of about 10.7 percent.
A two-bedroom unit at 10/49-55 Cordeaux Road, Figtree, NSW 2525 sold for $467,500 in January 2016, according to RP Data. The deal was through Belle Property. The unit had previously changed hands in 2013 for 365,000, data shows, implying a change in value of 28 percent over three years or an annual change of about 10.05 percent.
