What is the true cost of buying an apartment in Wollongong?

The median apartment in Wollongong is $565,000. Including stamp duty ($19,955), strata, council rates, insurance, and mortgage repayments, the true first-year cost is approximately $46,784, or $3,899/month.

What does it really cost to buy a house in Wollongong?

The median house in Wollongong is $890,000. True first-year cost including stamp duty ($34,580), rates, insurance, maintenance, and mortgage repayments is approximately $63,550.

What is the vacancy rate in Wollongong?

Wollongong currently has a vacancy rate of 1.8%. Properties average 32 days on market.

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True Cost of Buying in Wollongong

2500 NSW · 82km to CBD

Stable

A decision, not just a search · Wollongong

Does the lower estimated monthly cost make a property the better buy?

Only under the assumptions entered—and cost is not the whole decision. This model compares scenarios, not lender approval, building condition or personal suitability. Replace defaults with current quotes and documents, then test whether the cost remains manageable when circumstances change.

Questions that could change the answer

Which costs are current supplied figures, and which are model defaults?
What happens to your buffer if interest, repairs or vacancy costs rise?
What finance, contract or inspection condition remains unresolved before an offer?

Evidence to obtain—not yet verified here

Current lender terms and approval conditions, not only a borrowing estimate.
Dated levy notices, rates, insurance quotes and maintenance information.
Contract advice, inspection findings and comparable sales evidence.

Other options: Lower the price limit, compare another property or wait for critical checks. A favourable model result is not a recommendation to make an unconditional offer.

Next action: Re-run the existing calculator with documented inputs, then agree your conditions and walk-away point with the relevant professionals.

When to revisit: Revisit when any input, approval condition, price or property finding changes.

General decision guidance—not a property assessment, personal recommendation or verified client result. Dates on surrounding market content apply to that content, not to checks on your property.

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Market Intelligence

Wollongong is NSW's third-largest city, located 80km south of Sydney along the stunning Illawarra coast. This vibrant regional hub combines industrial heritage with modern amenities, anchored by the prestigious University of Wollongong and thriving steel industry. The suburb offers an exceptional lifestyle with pristine beaches, escarpment bushwalking, and a growing cultural scene. Property markets show resilience with coastal proximity driving demand, particularly for units offering Sydney affordability alternatives. The recent railway electrification has significantly improved connectivity to Sydney, making it increasingly attractive for commuters and sea-changers. Demographics reflect a diverse, educated population with strong multicultural influences and substantial student numbers. The Innovation Campus is positioning Wollongong as a technology hub, while Port Kembla expansion supports logistics growth. Investment fundamentals remain strong with tight rental markets, lifestyle appeal, and infrastructure improvements driving long-term value. Challenges include industrial legacy issues and weather exposure, but ongoing urban renewal and economic diversification present significant opportunities for property investors seeking regional growth with metropolitan connectivity.

Excellent transport connectivity with electrified rail to SydneyPrestigious University of Wollongong driving student accommodation demandStunning coastal location with beaches and escarpment accessDiverse economy with steel, education, technology and tourism sectorsStrong rental demand from students and sea-change migrants

Market Snapshot

Median House

$890K

+8.2% 1yr

Median Apartment

$565K

+9.1% 1yr

Median Townhouse

$720K

Vacancy Rate

1.8%

32 avg DOM

Yield (Apartment)

5.1%

Yield (House)

4.2%

Auction Clearance

72%

Population

68,600

True Cost Breakdown

Based on median prices · 20% deposit · 6.5% interest · 30-year term · Owner-occupier

Apartment

$3,899/mo

Purchase Price

$565,000

Stamp Duty

$19,955

1st Year Total

$46,784

House

$5,296/mo

Purchase Price

$890,000

Stamp Duty

$34,580

1st Year Total

$63,550

Townhouse

$4,483/mo

Purchase Price

$720,000

Stamp Duty

$26,930

1st Year Total

$53,792

Run Your Own Numbers

These are median figures. Plug in the actual property you're looking at to see your real all-in cost — including first-home concessions, investment deductions, or different deposit amounts.

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