The Illawarra Mercury reported this week that, "The Illawarra has featured among a national list of the top 100 suburbs for value growth over the past 25 years.
CoreLogic has identified the best performing suburbs for price growth over the past 25 years, based on change in median prices between 1993 and 2018.
The joint study by Aussie Home Loans and CoreLogic has also revealed the top 20 suburbs in the Illawarra region for value growth over this period.
The Illawarra list incorporates median house prices for suburbs from the Wollongong, Shellharbour, Kiama, Shoalhaven and Wingecarribee local government areas.
This is well above Sydney’s average of 7.6 per cent.
“Our report clearly shows that housing continues to grow as Australia’s largest asset class, with many home owners living across the Illawarra achieving really strong value growth over the last 25 years,” chief executive officer of Aussie James Symond said."
Editors note: The consistent growth seen by Illawarra compared to the national trends is due to a number of factors but population growth will always be the key driver of demand in the market.
With population growth comes the increased need for storage.
Interestingly this doesnt rise and fall with market sentiment like property values. So what will the savvy investors do? Invest in the key services that the population needs - like self storage.
Coupled with the fact that self storage investments will deliver at least double what residential investment will with a guaranteed return of 10% net pa for the first 3 years and then an expected 7% net+ from year 4 onwards a self storage unit investment really rises from the pack.
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All the best,
Illawarra mecury article can found here - https://www.illawarramercury.com.au/story/5462691/illawarra-suburbs-in-national-top-100-list-for-value-growth/