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Residential Market Update with Sean September 2016

Wollongong/Illawarra Residential Real Estate Market Update

Hi, I'm Sean O'Connor from First National Real Estate Wollongong with your September Property Report.

A recent CoreLogic property report for regional Australia has listed the Illawarra as having achieved the highest price increase throughout the last 12 months at any region in Australia and this includes both houses and apartments, certainly our close proximity to Sydney has contributed to this result. As home buyers squeezed out of the Sydney market, they are moving South to the Illawarra where homes are certainly more affordable and they can enjoy our coastal lifestyle and also an easy commute to Sydney. At First National Real Estate Wollongong, we had just achieved a record month for sales in the last 12 months and to do this in the middle of Winter is certainly says a lot for the energy and excitement in our team.

We have a property in 69 William Street, Keiraville going to market in the next two weeks. This property is located very close to the university and is a blue chip investment area. Any investors or first home buyers who wish to purchase are advised that you certainly inspect this property as soon as possible.

Although the number of properties is down at the moment, prices are on the increase and there is unprecedented buyer enquiry out there at present especially due to the low interest rates we are experiencing at present. Therefore if you are thinking about going to the market, I couldn't recommend a better time than now. Spring is here. Spring is selling season and I hope to see you very soon at some of our open homes.

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