All About Koonawarra, Wollongong, NSW, 2530

Koonawarra, a suburb of Wollongong in New South Wales, offers a unique slice of the housing market that reflects both stability and a touch of regional charm. Over the past few years, the housing market in Koonawarra has seen moderate growth, driven by its appeal to families and individuals looking for an affordable alternative to more densely packed urban areas. The suburb primarily features detached homes, many of which offer decent-sized yards, providing space and a more serene environment compared to city living. Despite increasing property prices in the greater Wollongong area, Koonawarra remains relatively accessible for first-time buyers and those seeking rental properties, making it a viable option for those who desire proximity to both the city and nature. The presence of Lake Illawarra nearby adds an attractive aspect to the locale, often boosting the desirability of properties in the area due to the outdoor lifestyle opportunities it presents.

Living in Koonawarra offers a balanced lifestyle that combines convenience with the joy of community and nature. Residents enjoy the tranquility of suburban life while being a short drive from the bustling Wollongong city center. The community here is tight-knit, with a friendly atmosphere that is welcoming to newcomers. Essential amenities are within easy reach, with local schools, parks, and shopping centers servicing the area well. The suburb's proximity to Lake Illawarra means that outdoor enthusiasts can indulge in various water activities, fishing, and picnics by the lake. This proximity to natural settings contributes to a laid-back lifestyle away from the fast pace of city living, making Koonawarra an attractive place for families and retirees alike. Overall, Koonawarra provides a peaceful and affordable residential option in a scenic setting, enriched by its community-centric charm.

Koonawarra Real Estate Market Outlook

Thinking about buying in Koonawarra? Now could not be a better time, with 1510 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $763,000 with prices in this suburb ranging from $16,000 to $3,975,000. Koonawarra is located fairly close to the coast at just 5Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

Good balance between supply and demand ensures a range of affordable options within budget limits. Recent increases in listings may provide buying opportunities. Low average incomes in Koonawarra is reflected in smaller and lower quality accommodation. Over time this may change providsing long-term returns but in the short to medium term, prices are likely to be less than state averages. A mix of professions and above average income earners in Koonawarra provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. Medium density in Koonawarra necessitates a mix of lifestyle options for housing, shops, open areas, and facilties. Where this is available, demand is high and growth ensured. Higher than average industry presence in the wider area offering local employment yet with not a large negative impact on local amenity, provides good demand and price growth.

Instant Property Valuation

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General Points of Interest

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