Illawarra

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<p>The Illawarra residential market prices continue to grow strong, according to a recent Herron Todd White (HTW) report.</p>
<p>The property valuation firm says that various factors such as low interest rates, employment and decreasing affordability in Sydney are creating strong demand.</p>
<p>“There has been strong growth in the Illawarra residential market for a number of years in all locations and property types<span>,” the report stated.</span></p>
<p>The market is particularly driven by what is happening in Sydney but there i<span style="font-size: 12.16px;">s also a flow on effect to Wollongong and Shoalhaven.</span></p>
<p>"Low interest rates, stable employment, improving infrastructure and decreasing affordability in Sydney all combine to create strong demand for residential property at all price levels," the report said.</p>
<p>"There are a number of factors that could cause the market to change.</p>
<p>"These include interest rate hikes, an oversupply of new properties, an economic downturn in the region, or a crash in the Sydney market.\</p>
<p>Wollongong is in the middle of a construction boom, especially in unit developments.</p>
<p>"New unit developments are at an all time high and the supply of new units are at unprecedented levels," HTW said.</p>
<p>"In addition there are many new land developments of varying sizes with the majority in West Dapto, Calderwood, Shell Cove and South Nowra.</p>
<p>"As long as the supply is being met by strong demand the market will continue to be strong.</p>
<p>"However, all this new supply may exaggerate any downturn in the market if developers cannot offload their new stock."</p>
<p>HTW says Illawarra’s economic situation is tied to its property market.</p>
<p>"The region continues to diversify from its mining and steel roots and has enjoyed good growth in medical and aged care and tourism sectors," it said.</p>
<p>"Market confidence is still derived from the steel and mining sectors.</p>
<p>"Major downturns in these sectors could result in a downturn in the property markets.</p>
<p>"With the region being more and more accessible to Sydney through improved infrastructure, the link between the Sydney and Illawarra property markets is closer than ever.</p>
<p>"It is likely that the events that would cause a slow down in the Sydney market would also impact the Illawarra and if Sydney buyers were removed from the Illawarra market demand for property would be reduced,” the report stated.</p>
<p>A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-figtree-125477566" target="_blank">9 Mark Street</a>, Figtree (above) has been listed for between $699,000 to $768,900.</p>
<p>Similarly, a two bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-woonona-125478226" target="_blank">45 Hillcrest Avenue</a>, Woonona (below) has been listed for $600,000.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/16/45%20Hillcrest%20Avenue.jpg" alt=""></p>
<p>A two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-north+wollongong-125324826" target="_blank">1/4 Pleasant Avenue</a>, North Wollongong (below) was recently sold for $570,000.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/16/1_4%20Pleasant%20Avenue.jpg" alt=""></p>
<p>Similarly, a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-horsley-125281798" target="_blank">21 Norman Clark Crescent</a>, Horsley (below) was recently sold for $955,000.</p>
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Illawarra residential market continues to grow strong: HTW

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<p>The Illawarra was the best performing regional housing market in New South Wales over the last 12 months, the Q3 Regional Report from property data firm CoreLogic has found.</p>
<p>House values were up 9.6 per cent over the year to October.</p>
<p>They were driven by houses in the lower quartile, whose values soared 10.8 per cent compared to the upper quartile's 9.9 per cent gains.</p>
<p>The number of house sales were up 14.7 per cent over the last 12 months compared to the 12 months prior. That spike was primarily driven by sales in the $600,000 to $800,000 bracket, which up 34 per cent.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/NOV/24/Illawarra%202.jpg" alt=""></p>
<p>Unit sales soared in the region, up over 21 per cent, driven by the $400,000 to $600,000 market which saw a 47.3 per cent sales spike.</p>
<p>Unit values too jumped, up 7.4 per cent.</p>
<p>It was the upper quartile that outperformed the lower quartile for apartments, up eight per cent compared to 7.2 per cent for the lower quartile.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/NOV/24/Illawarra%203.jpg" alt=""></p>
<p>The time on market for houses in now 33 days, compared to 57 days last year. </p>
<p>Units are also getting snapped up much quicker than 12 months ago, now at 44 days down from 63.</p>
<p>CoreLogic’s head of Australian research Eliza Owen said the traditional draw cards for regional dwelling markets such as lower density levels and lower purchase prices, coupled with the normalisation of working from home, have sparked increased interest among researchers.</p>
<p>“The results of this report support increasing levels of demand outside of cities. Regional Australia’s dwelling markets had higher rates of growth relative to capital cities through the pandemic," Owen said.</p>
<p>"In the year to October, combined regional Australian dwelling markets rose 4.8 per cent, compared with a 3.9 per cent lift in the capital cities.</p>
<p><span>“Migration numbers from the ABS show net internal migration to the regions rose to a record high in the June quarter. This was because movements to regional Australia increased, while departures from the regions slowed. As a result, demand for dwellings in regional Australia will have risen at a time when the stock available for sale is relatively low.</span><br><br><span>“‘Commutable’ regional areas within a reasonable travel distance to the major metropolitan centres have seen particularly extraordinary increases in demand. House sales volumes increased by double digits across the mid north coast, Illawarra and the Hunter Valley.</span><br><br><span>“Of the 50 house and unit markets analysed, only six markets continued to show declines over the year, including markets far from metropolitans such as Riverina houses, Cairns units and units in Central Queensland.</span><br><br><span>“With record low mortgage rates and confidence returning to the Australian economy, there is likely to be a broader-based upswing across both regional and capital city markets into the first quarter of 2021,” said Ms Owen.</span><br><br><span>However, while the story seems largely positive for regional Australia’s residential property market, there is a downside.</span><br><br><span>“For local first home buyers, declining affordability may become a problem. Growth may start to slow in regions that have already seen a sustained upswing, due to such affordability constraints. These include areas such as Illawarra, Newcastle and Lake Macquarie, the Gold Coast and the Sunshine Coast, where annual growth rates in houses have already exceeded 7 per cent in the year to October,” concluded Ms Owen.</span></p>
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Illawarra tops regional New South Wales house price growth: CoreLogic's Q3 Regional Report

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<p>Despite the pandemic, the prestige market in the Illawarra has performed well throughout 2020, according to the November report from Herron Todd White.</p>
<p>As property prices have risen over the years, so has the prestige price point. When we talk about beachside homes, the Illawarra appears to have a price ceiling of around $4 million, however this price point has recently been breached with a sale in Woodland Avenue, Thirroul for $4.125 million, the house having been listed for sale for over a year and finally finding the right buyer, indicating the strength of this market in our region at the moment.</p>
<p>We have seen the following number of sales of coastal properties over $3 million in 2020: Stanwell Park – 1; Clifton – 1; Thirroul – 2; Minnamurra – 1; Kiama – 2; Gerroa – 1. For those looking for a bit more land, the rural residential prestige market has also been active in 2020.</p>
<p>The year kicked off with a $3.84 million sale in Russell Vale of a four-bedroom, three-bathroom homestead on 8.9 hectares with great district and distant ocean views. The $4 million mark was breached for a 20-hectare Calderwood property comprising three houses and significant ancillary improvements including stables, which sold in April for $4.6 million.</p>
<p>The Kiama and Berry and Kangaroo Valley regions traditionally provide the greatest number of prestige rural residential sales and 2020 has been no different with a 75-hectare property in Kangaroo Valley comprising three dwellings fetching $5,362,500 and Rose Valley recording two separate sales of $5.665 million and $6.05 million.</p>
<p>Agents are reporting a shortage of stock across the board and the prestige market is no different. Despite recent activity and buyer interest, there are a very limited number of prestige properties currently on the market with no current beachside</p>
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Illawarra prestige market performed strongly despite pandemic: HTW

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<p>Residential prices continue to be holding through June 2020 in the Illawarra, according to the July Herron Todd White (HTW) residential report. </p>
<p>The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation. </p>
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<p><span>The report suggests there remains a relatively low amount of stock on the market which is driving a bit more competition amongst buyers.</span></p>
<p><span> Realistically priced and conventional properties are selling within two months in most cases.</span></p>
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<p><span>"Ten years ago, $700,000 would have given you the pick of many properties throughout the Illawarra with only the more desirable areas out of reach, however strong price increases over the past decade have restricted a purchaser with $700,000 to spend," the valuation firm said. </span></p>
<p><span>This is the approximate median house price in suburbs such as Figtree and Flinders, although townhouses or units can still be picked </span>up for under $700,000 in suburbs such as Thirroul and Bulli and older houses can be purchased in Corrimal and Russell Vale.</p>
<p>There have been plenty of new units built in Wollongong over the past couple of years and $700,000 will pick up a decent quality two-bedroom unit with a bit of a view.</p>
<p>A two bedroom apartment in Wollongong CBD has recently been sold for $488,500. </p>
<p>The <a href="https://www.realestate.com.au/sold/property-apartment-nsw-wollongong-134021110" target="_blank">3/6 Market Place</a> home (pictured below) comes with sleek kitchen, two oversized bedrooms, and renovated bathroom. </p>
<p>It is situated within close proximity to eateries and beach. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/8/3/wollongong%20cbd%20.jpg" alt=""></p>
<p>In high growth areas such as West Dapto (Horsley, Wongawilli and Kembla Grange) and Calderwood, a new four-bedroom house on a 450 square metre lot can be purchased for under $700,000, the report noted. </p>
<p>A current listing is a four bedroom house in Horsley priced at $649,000.</p>
<p>The recently updated home at <a href="https://www.realestate.com.au/property-house-nsw-horsley-133293570" target="_blank">11 Lucas Drive </a>(pictured below) comprises four bedrooms,  living and dining spaces, two bathrooms, and gardens. </p>
<p>It is situated close to schools, eateries, transport and Wollongong CBD.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/8/3/horsley.jpg" alt=""></p>
<p><span>"We see mainly younger families or couples purchasing at this price point with second house buyers or downgraders often above this market. </span></p>
<p><span>"Pandemic conditions have not brought any significant price decreases in our market, however there is still a decent level of uncertainty in the short to medium term as government stimulus packages and local and macro economies grapple with a recession." the valuation firm said. </span></p>
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What a lazy $700,000 can buy in Illawarra: HTW residential  

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<p>The real estate group, McGrath Estate Agents, has reaffirmed its commitment to the Illawarra region announcing the opening of a new office in Thirroul.</p>
<p>It is under the auspices of its longtime franchise partner, the McCarthy/Sutherland Shire &amp; Illawarra Group led by Patrick McCarthy.</p>
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<p>John McGrath said McCarthy and his team had established their south coast market presence over eighteen months ago.</p>
<p>"So opening in Thirroul will be a value-add to their community of buyers and sellers alike.</p>
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<p>“Thirroul itself offers low density beachside living that is increasingly appealing to both Sydneysiders wanting an escape as well as those who are attracted to his wonderful lifestyle, amenity, and its proximity to Sydney and the regional cities of Wollongong and Canberra,” Mr McGrath added.</p>
<p>Last December Jeremy Hodder, joined the group and will now be partnering with Vanessa Denison-Pender, former director of One Agency Thirroul, to open the new office.</p>
<p>Vanessa has been in the industry for 17 years and has been a principal in the area for eight years. </p>
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<p>Mr Hodder believes that the affordability of the area is particularly attractive and in reach of first home buyers and empty nesters as well as the WFH commuter.</p>
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<p>McGrath Thirroul speciality suburbs include Thirroul, Austinmer, Wombarra, East Corrimal, Coledale, Towradgi, and Bulli.</p>
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<p>“The out of area migration from Sydney is becoming increasingly popular," Vanessa said.</p>
<p>Thirroul is only 80kms from the south of Sydney and many more people are becoming comfortable with this commute to put themselves in a better financial position.</p>
<p>“Since the onset of COVID-19, we have experienced a large number of enquiries from Sydney not only for relocation opportunities but also for investment options, this includes weekenders and beach holiday homes”.</p>
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<p>With an average median house price for Thirroul is $1,225,000; Vanessa Denison-Pinder has achieved some sales results in the last six months including: </p>
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<p>11 The Grove Austinmer – A street record for a 4 bedroom home sold for $2,925,000</p>
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<p>21 The Grove Austinmer – A 3 bedroom home sold for $1,600,000</p>
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<p>28 The Waves Thirroul – A street record for a 5 bedroom home sold for $1,465,000</p>
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<p>686 Lawrence Hargrave Drive, Coldale – A Beachfront 4 bedroom home sold for $2,410,000</p>
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<p>Recent sales by Jeremy in the last six months include: </p>
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<p>10a Toxteth Avenue, Austinmer – Brand new 3 Bedroom home sold for $2,350,000</p>
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<p>3 The Breakers, Thirroul – A 4 bedroom home sold for $2,325,000</p>
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<p>347-349 Lawrence Hargrave Drive, Clifton – Set a new suburb record for Clifton sold for $3,375,000</p>
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McGrath expands Illawarra footprint with an office in Thirroul

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<p><span>The month of May progressed steadily for the residential property market in the Illawarra, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm suggest in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month’s HTW report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</span></p>
<p><span>The HTW report notes sale prices appear to be holding with no obvious signs of any discounting happening.</span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/15/thirroul%20.jpg" alt=""></span></p>
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<p>Notable sales include a $3.1 million sale in <a href="https://www.realestate.com.au/sold/property-house-nsw-thirroul-133480182" target="_blank">Surfers Parade, Thirroul</a> (pictured above) and a duplex in <a href="https://www.realestate.com.au/sold/property-house-nsw-austinmer-133320946" target="_blank">Toxteth Avenue, Austinmer </a>(pictured below)that sold for $2.35 million.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/15/austinmer.jpg" alt=""></p>
<p><span>The number of transactions has decreased slightly with realestate.com.au recording 88 residential sales in the Wollongong LGA in the first 20 days of the month (4.4 sales </span>per day).</p>
<p>This is in comparison to 102 sales in the first 20 days of April (5.1 sales per day). For a point of reference, RP Data recorded 585 sales for the two month period of April and May 2019 (9.6 sales per day).</p>
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<p><span>"Open homes have recommenced and local agents are reporting that while there is </span>less activity, it has not disappeared completely and all levels of the market have purchasers ready to complete sales," the valuation firm said. </p>
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<p><span>Home renovations are a big part of owning a property.Reasons for renovating can be wide ranging. </span>Flippers look to purchase an older, run down property, complete a full renovation and on sell the property, hopefully at a profit.</p>
<p><span>They have experience with a trade themselves and have other local contacts they can call on to get the renovation completed as quickly as possible. </span></p>
<p><span>Time is important as the longer they take to renovate </span>the property, the longer they have to pay holding costs, therefore most flippers will not undertake any renovations that require DA approval, such as an extension. A quick internal and external facelift and the property goes back on the market.</p>
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<p><span>The report suggests owner occupiers tend to renovate their properties at varying stages of their ownership of the property.</span></p>
<p><span>"First home buyers may not have a lot of spare cash to make too many updates initially but as the years go by they will look to spend their savings on renovations projects.</span></p>
<p><span>"Most upgraders tend to look to purchase a family home where </span>all the work is already done. It might be a new house or one that has been recently renovated," the valuation firm said. </p>
<p>Alternatively there are a few who will look to complete the renovation themselves and can therefore fit their own specific requirements into the project.</p>
<p><span>Full renovations or knock down and rebuilds are appearing in popular suburbs in the north or around the CBD which typically have older stock built during the migration boom of the 1960s.</span></p>
<p><span> These areas are transitioning and it is common to drive down a street such as O’Brien Street in Bulli or Storey and Donald Street in Fairy Meadow and see a real mix of new, modern homes next door to older original houses.</span></p>
<p><span>"The key to completing renovations of any scale during the current period is to find a builder who has proven experience and also availability.</span></p>
<p><span>"Most builders have been reporting a decent pipeline of work with new quotes still being prepared. Recent economic issues seemingly have not put a dampener on renovation dreams," the valuation firm said. </span></p>
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Illawarra builders report decent pipeline of renovation work: HTW residential 

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<p><span>Home owners in the Illawarra "tend to come in all shapes and sizes," according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The report notes first home buyers compete with small time investors for lower value properties.  </span></p>
<p>It nominated a $600,000 house in Corrimal, a $400,000 unit in Wollongong, a $425,000 house in Dapto, a $400,000 house in Warilla or a $325,000 house in Nowra.</p>
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<p><span>"Most of the region’s more desirable locations such as the northern suburbs, Shell Cove and Kiama are priced out of reach for most typical first home buyers. Local real estate agents are currently reporting that demand from first home buyers for lower end stock is strong," the valuation firm said. </span></p>
<p><span>A renovated two bedroom house with a big back yard in Warilla has recently been sold for $405,000.</span></p>
<p>Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-warilla-132634154" target="_blank">61 Lake Entrance Road </a>(pictured below), the house features separate lock up garage, outdoor entertaining area and off-street parking for 2 cars. </p>
<p><span>It is situated close to restaurants, pubs, shops and transport. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/23/warrila.jpg" alt=""></span></p>
<p><span>Second home buyers are usually families looking to upgrade out of their first home for some more space or more modern comforts.</span></p>
<p><span> Higher incomes allow the budget to stretch further than a first home buyer and the type of property can vary depending on the buyer’s appetite for doing the renovation themselves or the desire to move straight in and not have to do any work. </span></p>
<p><span>Due to the higher budget, second home buyers are found throughout most parts of the Illawarra. </span>They could be looking at a $1 million house in Thirroul, an $850,000 house in Fairy Meadow or Figtree, a $750,000 house in Horsley or Albion Park or a $600,000 house in South Nowra.</p>
<p>A four bedroom house on a 929sqm of land in Thirroul has been listed for sale with $1.25 million to $1.3 million hopes. </p>
<p>Situated at<a href="https://www.realestate.com.au/property-house-nsw-thirroul-133054114" target="_blank"> 51 George Street</a> (pictured below), the house comprises separate dining, kitchen overlooking the back deck, undercover deck and veranda. </p>
<p>Other features include double garage, high ceilings, ornate cornices and under house storage. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/23/thirroul.jpg" alt=""></p>
<p>Upgraders are transforming some locations such as Fairy Meadow, Towradgi and East Corrimal where the proximity to the beach and Wollongong CBD are attracting families to knock down and rebuild or significantly renovate and extend older style dwellings, the report noted. </p>
<p><span>The last main category of home owner is the downsizer or retiree. Baby boomers are currently making up the vast majority of this category.</span></p>
<p><span>"The needs and wants of the downsizer or retiree will vary depending on a number of influences. Do their children and grandchildren live in the area or are they willing to move to a more comfortable location? Do they want to downsize in size but not in budget? Are they looking to change their family home to something in a lower value bracket that will allow them to use their equity during their </span>retirement?" the valuation firm said. </p>
<p>Semi-modern villas often appeal to this demographic or for those with a bit of cash, a nice modern Wollongong unit with ocean views can be on the agenda.</p>
<p>Harbour Square at 21 Harbour Street is a 2019 built, 33 unit development constructed by a well regarded local builder with two-bedroom units having sold between $900,000 and $1.15 million and three- bedroom units from $1.6 million into early $2 million.</p>
<p>The majority of the units were purchased by local downsizers.</p>
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<p><span>"The residential property market is traditionally made up of various demographics and buyer profiles across the Goulburn region," the valuation firm said. </span></p>
<p><span>The median house price of $430,000 </span>(Realestate.com.au), typically appeals to first home buyers looking to get their foot in the door with older style historic homes centrally located on tree lined streets and within close proximity to schools, parks and the CBD.</p>
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<p><span>However, the ornamental features do come at a cost for these older style properties, as they do require more upkeep and ongoing renovation works.</span></p>
<p><span>The report notes first home buyers are also attracted to the copious amounts of low maintenance house and land packages on offer in the numerous developments located further from the CBD such as the Teneriffe Estate and the Josephs Gate Land Development. </span></p>
<p><span>Many young families who are also priced out of Canberra </span>and the Southern Highlands see Goulburn as an affordable lifestyle alternative. These buyers are particularly more dominant in the executive style residential developments such as the Snow Gums Estate, Platypus Banks Estate and Run-O-Waters.</p>
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<p><span>"These developments are seen as good value for money and provide families with more elbow room for a larger home, shed and backyard," the valuation firm said. </span></p>
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First home buyers compete with small time investors for lower value properties in Illawarra: HTW residential 

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<p>Dahua Group Australia has started civil and subdivision works on its $350 million 1881 Tullimbar development, located in the Illawarra region.</p>
<p>The site spans across 90 hectares.</p>
<p>Dahua purchased the land parcel from Miltonbrook in 2017.</p>
<p>The first residents are expected to move in early 2022, with completion of the estate expected in 2023.</p>
<p>A variety of land lot sizes from 450 to 850 square metres are currently available with prices starting from $220,000 to $518,000. House and land packages are priced from $590,000.</p>
<p>It will comprise 500 new homes.</p>
<p>Civil contractor Western Earthmoving (WEM) was awarded a contract for civil infrastructure and subdivision works for the first 149 land lots.</p>
<p>Kith Clark, Development Director for Dahua Group said it was their third major masterplanned community in New South Wales.</p>
<p>"It has taken us two years to reach this significant milestone.</p>
<p>“Many jobs are being created for local businesses before, during and after construction.</p>
<p>"WEM is one of the most experienced civil contractors in the Illawarra area with a strong track record in delivering exceptional masterplanned communities.”</p>
<p>“1881 Tullimbar is ideally situated to capitalise on the expanding Illawarra region. The project is within close proximity to major employment hubs, important transport links including the Princes Highway and extensive community facilities," he added.</p>
<p>1881 Tullimbar nestles Tullimbar Public School, Albion Park Shopping Centre is 2.7 kilometres and Shellharbour Square is approximately 10 kilometres.</p>
<p>Wollongong’s CBD is only 25 kilometres from the site and Sydney’s CBD is about 100 kilometres.</p>
<p>The development is surrounded by 10 primary, high and tertiary institutions, all within a 26-kilometre radius.</p>
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Dahua Group begins work on Illawarra development

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<p><span>The year ahead presents unknowns in respect to the residential property market in the Illawarra, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm </span>asked their valuers to give an educated outlook on the residential market in their service areas.</p>
<p><span>The report suggests towards the back end of 2019, demand for property appeared to be picking up, halting the declining market experienced throughout 2018 and the first half of 2019. </span></p>
<p><span>Selling periods certainly dropped and it was common for agents to be reporting sales within a couple of weeks of marketing as buyers became a bit more ready with their cheque books. </span></p>
<p><span>"We are expecting the beginning of 2020 to follow this trend with reasonable demand for a wide variety of property throughout the Illawarra," the valuation firm stated. </span></p>
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<p><span>At the lower end of the house market are entry level properties in Cringila for just under $400,000, in Nowra for around $350,000 and Horsley around $450,000. </span></p>
<p><span>At the other end of the scale, there are a number of fine homes currently listed for sale over $3 million in locations including Lilyvale, Otford, Thirroul, Minnamurra and Berry along with a dual level Cliff Road unit listed at over $4 million.</span></p>
<p><span>A Thirroul waterfront house with private beach access is currently on the market with $3.8 million to $4.2 million hopes.</span></p>
<p>The five bedroom, four bathroom house is situated at <a href="https://www.realestate.com.au/property-house-nsw-thirroul-131347090" target="_blank">2 Woodland Avenue</a> (pictured below).</p>
<p><span>Set on 1340 square metres of land, the house features ocean view, master bedroom with freestanding bath, three balconies, and entertainment area. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/2/17/thirroul.jpg" alt=""></span></p>
<p><span>"As at the end of 2019, property pricing and position in the market will be crucial to driving </span>sales," the valuation firm said. </p>
<p>Well presented properties with realistic price expectations will do well, while inferior quality properties and those in secondary locations are still expected to struggle.</p>
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<p><span>"Something to keep an eye on is Wollongong CBD units. As 2020 progresses, so will a number of larger unit developments including the highrise projects on and around Regent Street,"the valuation firm continued. </span></p>
<p>A recent sale was a two bedroom apartment situated at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-wollongong-132791578" target="_blank">1/72-74 Corrimal Street, Wollongong</a> (pictured below). </p>
<p><span>The ground floor apartment has been sold for $585,000.</span></p>
<p><span>It comprises two bedrooms, kitchen, bathroom and oversized terrace entertaining. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/2/17/wollongong.jpg" alt=""></span></p>
<p><span>The complex is located within close proximity to CBD, hospitals and university. </span></p>
<p><span>Delivery of these will provide a large supply of additional units into a market that has already expanded at an unprecedented level in the past 10 years.</span></p>
<p><span>"Our prediction for the year ahead is for the residential property market across the region to remain relatively stable with minor increases in value. </span></p>
<p><span>"Whether the market is gearing up for another decline, further strong growth or a long settled period is anyone’s guess." </span></p>
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Illawarra property market presents unknowns in 2020: HTW residential 

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<p>The top end of the market in the Illawarra has seen usual market activity throughout 2019, according to the latest Herron Todd White (HTW) residential report. </p>
<p>The report notes whilst there has been lower demand than during the peak period in previous years, the top end hasn’t been quite as dramatic as the sub-$1 million properties.</p>
<p>High end sales include dwellings for $4.1 million in Wombarra, $3.2 million and $3.8 million in Bulli and a rural residential property just out of Berry for $5.4 million.</p>
<p>A Wollongong unit at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-wollongong-128254826" target="_blank">2/68 Cliff Road</a> (pictured below) sold for $3,225,000.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/18/wollongong%201.jpg" alt="" style="font-size: 12.16px;"></p>
<p>"One of the more extraordinary sales in 2019 was a $2.7 million property in Dapto," the valuation firm noted. </p>
<p>The house at <a href="https://www.realestate.com.au/sold/property-house-nsw-dapto-130584238" target="_blank">46-48 Carlyle Close </a>(pictured below) was built in 2018 and is approximately 475 square metres in size, featuring six bedrooms and three bathrooms all on 2,974 square metres of land.</p>
<p>The home site is elevated and has district and escarpment views and the grounds are extensively landscaped and retained with self-irrigating gardens, a wet-edge pool with spa and garaging for six cars.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/18/dapto.jpg" alt=""></p>
<p>"By far a record price in Dapto, it is not expected that there would be any more expensive properties in this area let alone any that have hit the market recently," the valuation firm commented. </p>
<p>Top-end properties vary depending on their type however most have a high quality level of fitout, substantial size and a significant view.</p>
<p>Vast ancillary improvements need to complement the dwelling itself. These highlights show that there has been decent trading in the upper bracket.</p>
<p>Buyers have still been willing to pay a decent price if they are getting something unique and special.</p>
<p>A search of realestate.com.au for properties in the region currently for sale over $4 million lists a number of development sites along with a penthouse with rooftop pool and private lift in Gerringong, an ocean front house on a double block in Bulli and two rural residential properties in Kangaroo Valley.</p>
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