The Wollongong property market continues to show resilience and opportunity for both renters and investors. Here’s a snapshot of what’s happening right now.
Vacancy rates in Wollongong are critically low, sitting below 1%, which means competition for rental properties is fierce.
Houses: Average weekly rent is around $700 Per week
Units: Median rent is $620 per week
Demand is still strong with students from the university and young professionals looking for lifestyle changes driving demand.
The First quarter from our MMJ Wollongong Leasing team has been very busy one with over 50 properties leased and an average of only 11 days on market.
In this time, we received over 2000 enquires, conduction over 150 Rental inspections, having welcomed over 600 prospective tenants through these properties.
With our team receiving over 200 rental applications this help highlight the strong demand in the Wollongong market.