Get a property report and suburb profile for any property in Berkeley

Berkeley sits on the flats beside Lake Illawarra with easy access to coastal open space. The streets are largely low-rise and residential, a mix of older weatherboard and brick homes alongside pockets of newer infill, so it feels established rather than inner-city. Residents use local parks, school grounds and the lake foreshore for recreation, and everyday shopping and services are close at hand while larger centres and the Port Kembla precinct are within reach for work and amenities. The suburb suits buyers after a quiet, lakeside suburban lifestyle with solid local links to the rest of the Illawarra.

Home to 7,798 people with a median age of 40, Berkeley is a practical, family-oriented community weighted towards couple households, with couples with and without children making up about three in four families. Most homes are owner-occupied though just under two in five are rented. Local projects under way include a public preschool at Berkeley West Public School, planned to accommodate up to 40 children with two preschool rooms and outdoor play, and the Southern Suburbs Community Centre and Library under construction in nearby Warrawong, which will expand library and community spaces for Berkeley and surrounding suburbs. Whether that suits you depends on what you want from a suburb.

At about $870,000, the median house in Berkeley works out to roughly 13.7 times a typical local household's annual income as recorded at the last Census (weekly household income $1,217 times 52 = $63,284). That price multiple sits well above local incomes.

Rents also take a large share of local income: $650 a week for houses is about 53.4% of a typical local household's weekly income at the last Census, and $565 a week for units is about 46.4%. For renting, the rent share is the relevant figure; for buying, the price multiple is the useful comparison. Whether those numbers feel expensive depends on your own circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

The clearest movement in Berkeley over the past year is in rents for units, which climbed a strong 13.0%. If rental income is your priority, that is the most relevant figure. On the house side, median house values rose a solid 8.8% while house rents increased a solid 7.4% over the same 12 months, so unit rents have outpaced house rents this year.

How you read those moves depends on whether you care more about rental income or capital growth; the figures show what happened over the past year, and it’s for you to decide how that fits your goals and circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.