Question 1

Is Gwynneville a nice place to live?

Accepted Answer

Gwynneville sits between the Wollongong CBD and the foothills of the Illawarra Escarpment, with tree-lined streets and a mix of weatherboard cottages, interwar homes and low-rise units. Its proximity to the University of Wollongong helps create a steady student presence alongside young professionals, families and long-term locals, and residents have easy access to the city, beaches, parkland and a small local shopping strip for everyday needs. The suburb’s relaxed, convenient coastal-city lifestyle is underpinned by that mix of housing and location.

Home to about 3,139 people with a median age of 29, Gwynneville is a suburb where families are prominent and homes are more often rented than owner-occupied (55.7% rented). Local upgrades include an upgraded public school and a Homes NSW-led precinct renewal with planned park expansions, shared paths, pedestrian and bus-stop improvements, plus active-transport and cycleway links; masterplanning for the Wollongong health and station precincts is also under way. Whether that suits you depends on what you’re after in a suburb.

Question 2

Is it expensive to live in Gwynneville?

Accepted Answer

Renting in Gwynneville looks relatively costly against local incomes recorded at the most recent Census. With an average house rent of $750 a week and a typical local household income of $1,394 a week at the last Census, renting a house would take about 53.8% of that weekly income. An average unit rent of $500 a week would take about 35.9% of a typical local household's weekly income at the last Census. On these figures, a house would use a large share of local income while a unit would take a sizeable share, and which matters more depends on whether you plan to rent a house or a unit.

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

Question 3

Is Gwynneville a good place to invest?

Accepted Answer

The clearest pattern in Gwynneville over the past 12 months is a stronger performance from the unit market. Unit values rose 12.5% over the year, a strong increase, while house values increased 3.5%, a modest rise. On the rental side, unit rents climbed 11.1%, also a strong rise, and house rents increased 7.1%, a solid rise.

Put simply, both the capital and income movements favoured units this year: unit value growth outpaced house value growth, and unit rents rose faster than house rents. If rental income is your main concern, the unit rent change is the most relevant figure; if capital growth matters more, note the relative size of the value changes. Whether that balance suits you depends on your own 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.

	Houses	Units
Median price Past 3 months	N/A	N/A
Change in value Past 12 months	3.5%	12.5%
Sold Past 3 months	7	1
Median days on market Past 12 months	37	23
Average rent Past 12 months	$750	$500
Change in rent Past 12 months	7.1%	11.1%

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