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

Corrimal sits between the Illawarra Escarpment and the coast and has a village-style shopping strip around Corrimal Mall by the train station and Princes Highway. Its streets mix weatherboard and brick cottages from the early to mid 20th century with more recent low-rise units, creating a neighbourhood that suits families, long-term locals and commuters. Residents have ready access to parks, playing fields and Corrimal Creek for outdoor activity, while regular rail and road links make trips to Wollongong or further afield straightforward, so the area keeps a relaxed, practical residential character.

The community numbers 6,972 people with a median age of 41, and couples with children (41.9%) together with couples without children (38.2%) dominate the family mix. About two in three households are owner-occupied (35.0% owned outright and 31.7% with a mortgage) and one in three are rented. Local projects are under way, including detailed designs for a Murray Road shared path linking the train station to the coastal shared path, upgrades at the library and community centre, maintenance at the heated pool, a proposed synthetic sports court at Corrimal High and new social and affordable housing on Robert Street. Whether Corrimal suits you will depend on what you value in a suburb.

Against what a typical Corrimal household earned at the last Census, buying looks especially stretched. The median house price of $1,335,000 is about 17.0 times a typical local annual household income at the last Census, and the median unit price of $735,000 is about 9.4 times that annual income, so both sit well above local incomes with houses much further out.

Renting also takes a large share of local income. The average house rent of $785 a week would take about 52.1% of a typical local household's weekly income at the last Census (a large share), while the average unit rent of $550 a week would take about 36.5% (a sizeable share). Whether that feels expensive will depend on your own income and 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 past year shows a split market in Corrimal. House values climbed 11.8%, a strong rise, while house rents increased 4.7%, a modest gain, so capital growth outpaced rental income on houses. Units moved the other way: unit values fell 4.6%, a moderate decline, even as unit rents jumped 10.4%, a strong rise.

If you prioritise capital growth, the house side has been the clearer performer over the last 12 months; if rental income is your focus, the jump in unit rents is the more relevant figure. Whether that balance suits your goals and circumstances is for you to weigh up.

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.