Illawarra rental listings drop 20.7 per cent as investor exodus deepens
Rental listings in the Illawarra's Wollongong area have fallen 20.7 per cent year-on-year to 1,046 properties, with median weekly rent now $780.
Rental listings across the Wollongong Significant Urban Area have dropped 20.7 per cent in the past year, falling below the five-year average by 19.4 per cent. The median weekly rent is now $780.
Real estate agents say fierce competition makes it hard for tenants without rental history or strong income to secure places. The sharp drop is blamed on negative gearing and capital gains tax changes that discouraged property investors from buying rentals.
Property manager Jackie Biceski said fewer investors entering the market means fewer new rental properties are created. Search efforts like one inspection of a two-bedroom unit in Barrack Heights drew more than half-a-dozen groups, showing how scarce rentals are.
Research head Gerard Burg said affordability pressures and three Reserve Bank rate rises have also dampened demand across the region.
- 20.7 percent
- Year-on-year drop
- 1,046 properties
- Available listings
- $780
- Median weekly rent
- 11 months
- Search duration
Why it mattersTight rental supply forces renters into fierce competition and raises barriers for those without rental history or references, making housing less accessible.
AustraliaIllawarra renters face harder searches and higher rejection odds, while investors have stepped back from the market, squeezing supply in a key NSW region.
✓ Claims checked against the source and corrected before publish. checked 7 d ago
