Big increase in home values in Illawarra

Staff reporterSeptember 7, 20160 min read

Illawarra home values have increased over the past year by 14.3 percent for houses and 13.9 percent for units, according to CoreLogic's regional market report.

Growth across the region, however, is beginning to moderate, down from a 17.8 percent year-on-year growth for houses in February this year, and 15 per cent for units over the year to May.

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Sales volumes have lowered over the past two years and are currently 10 per cent lower than one year ago.

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Average vendor discounting and time on market rates indicate the market is still geared towards those selling their properties, with less room for negotiations on the buyers’ side.

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Rental returns across the region are trending lower, at 4.5 per cent for houses currently, compared to 4.9 per cent one year ago and 4.9 per cent for units, down from 5.3 per cent in June 2015.

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Staff reporter

Tags:
Illawarra
Corelogic
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