Wollongong Auction Clearance Rates Drop to 61 Percent

Wollongong auction clearance rates fell to 61 percent in the fortnight ending 8 July, down from 72 percent in June, as 19 of 31 listed properties sold under the hammer.

The drop arrives as Sydney buyers pull back after the state median house price reached $860,000 and interest rates stayed elevated through the first half of 2026. Lower clearance rates often precede three to six months of flatter or falling prices because they show vendors rejecting bids that fall short of reserve.

Local results in key suburbs

Three-bedroom homes in Fairy Meadow near the beachfront sold for between $1.05 million and $1.18 million when they cleared, while two properties in Thirroul on the escarpment side passed in after failing to reach $1.45 million. The Wollongong CBD renewal program, which targets new apartments along Crown Street and Burelli Street, recorded just one cleared auction out of four listings in the same period.

Domain Group data released this week showed the Illawarra median dwelling price at $795,000 on 30 June, a 2.4 percent rise from the same date last year but the slowest annual gain since early 2024. CoreLogic auction records list 47 scheduled Wollongong sales for the weekend of 11-12 July, with 28 already carrying price guides above $1 million.

Next steps for buyers and sellers

Sellers planning to list in the next month should check comparable sales within 500 metres of their property and consider a pre-auction offer process if the home sits in Fairy Meadow or North Wollongong. Buyers can use the softer clearance environment to negotiate 3 to 5 percent below asking price on properties that pass in, particularly those near the Thirroul train station precinct.