Property
Buyer inquiries from first-home owners have climbed sharply in the past three months, with activity concentrated on units and townhouses priced between $580,000 and $680,000.
1 min read
First-home buyer settlements in the Wollongong local government area rose 18 per cent in the six months to June 2026 compared with the same period last year, according to CoreLogic transaction data released this week.
The increase comes as the NSW median dwelling price sits at $860,000 and Sydney buyers continue to spill south along the rail line, pushing entry-level stock in Wollongong into clearer reach for locals using the state’s First Home Buyer Guarantee and stamp-duty concessions.
Most of the new activity has centred on one- and two-bedroom units in Fairy Meadow along Elliotts Road and in the Wollongong CBD renewal precinct bounded by Crown Street and Keira Street. Local agents report that stock in these two locations has moved from an average 42 days on market in early 2025 to 27 days this quarter. Thirroul’s smaller townhouse projects near the railway station have also seen first-home contracts, though prices there start closer to $720,000.
Wollongong City Council’s recent release of 42 affordable units under its Housing Acceleration Program at Burelli Street has added further supply, with 19 of those dwellings already reserved by buyers under the 2026 first-home scheme.
CoreLogic figures show the median unit price across Wollongong reached $612,000 in May 2026, down 2.3 per cent from the February peak, while house prices held at $795,000. First-home buyer loan approvals processed through the Illawarra branch of the Commonwealth Bank increased from 47 in March to 71 in June.
Buyers should check eligibility for the state guarantee before inspecting properties listed under $700,000 and attend the next open-home round at Elliotts Road units on Saturday 18 July. Pre-approval remains essential given current auction clearance rates above 65 per cent in the northern suburbs.
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Published by The Daily Wollongong
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