Illawarra homeowners made solid gains selling property in June quarter
Nearly 97.9% of property resales in Illawarra made money, with median profit of $424,500 over nine years.
Illawarra homeowners made solid gains when selling up in the June quarter, according to new data from property research firm Cotality. Across the region, 97.9% of resales delivered a gross profit.
The median ownership period was nine years and the median profit was $424,500 per property. Kiama LGA posted even stronger figures: 91.4% of sales turned profit, with owners holding for 12.4 years and earning a median gain of $725,000.
Shellharbour and Wollongong also performed strongly, with 98.7% and 98.3% of sales profitable respectively. But the trend is softening: profitability dropped from 98.5% in March, and house values have fallen in recent months.
Research head Gerard Burg warned that properties bought around the May 2022 peak are now vulnerable, especially newer purchases.
- 97.9 percent
- Profitable resales
- $474.9 million
- Total gross profit
- $424,500
- Median profit per property
- 9 years
- Median ownership period
Why it mattersMost sellers are still making money, but timing is crucial. Buyers from around the 2022 peak face growing risk of loss as values decline.
AustraliaFor Illawarra residents considering selling or buying, the window for guaranteed profit is tightening as the market cools after years of strong gains.
✓ Claims checked against the source and corrected before publish. checked 8 d ago
