Spring 2022 vs 2023: Are home values up or down in your Illawarra suburb?
The Illawarra region is experiencing a mix of trends in home values comparing Spring 2022 to Spring 2023. While some suburbs have seen an increase in property values, others have experienced a decline.
One notable finding is the increase in home values in certain suburbs. For example, Wollongong houses have seen a rise in median value, currently standing at $914,203. This represents a 8.5% increase compared to the same period last year.
Similarly, houses in Thirroul have also witnessed a growth in value. With a median value of $1,296,537, Thirroul has experienced a 6% increase in home values compared to Spring 2022.
Conversely, the biggest drop in home values can be observed in Gerringong. The median value of houses in Gerringong currently stands at $1,536,339, which reflects a significant decline of 17% when compared to the same time last year.
These fluctuations in home values indicate the dynamic nature of the Illawarra property market. It is important for homeowners and potential buyers to stay informed about property trends in their respective suburbs to make informed decisions.
For more detailed information about home values in the Illawarra region, you can read the full article here.
