Question 1

Is Lake Heights a nice place to live?

Accepted Answer

Lake Heights is a leafy hillside suburb in Wollongong that looks over Lake Illawarra, with the escarpment rising behind it. It is largely residential, with single-storey and split-level family homes on sloping blocks that often take advantage of water or treeline views. Life there has a quieter suburban rhythm, with local shops and community facilities close by and coastal beaches and Wollongong services an easy drive away. The suburb suits families, people after a relaxed lakeside setting, and anyone who values access to nearby bushland and foreshore recreation.

About 4,105 people live in Lake Heights and owner-occupation is common, with 70.4% of homes occupied by owners. Council is carrying out local flood-mitigation work, including purchase and reclassification of flood-affected lots and investigations into detention and stormwater flow measures, and there are local infrastructure activities such as a playground replacement and retaining-wall works; a school safety crossing is located at the Lake Heights Primary School on Northcliffe Drive.

Question 2

Is it expensive to live in Lake Heights?

Accepted Answer

Buying a house in Lake Heights works out to about 12.8 times a typical local household's annual income as recorded at the last Census, which puts buying well above local incomes. Renting is also stretched against that Census income: a house rent of $700 a week would take about 51.6% of a typical local household's weekly income at the last Census (a large share), while a unit rent of $500 a week would take about 36.9% (a sizeable share). On these figures, renting takes a large portion of a typical local household's income and buying sits at a high multiple of annual income, so whether this feels expensive depends 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.

Question 3

Is Lake Heights a good place to invest?

Accepted Answer

Over the past 12 months in Lake Heights, median house values rose 5.8% while house rents increased 2.2%. Unit rents grew 9.9% over the same period, making unit rental growth the strongest movement among these figures. In other words, house prices showed a solid mid-single-digit rise, house rents were more modest, and unit rents delivered the larger gain. Which of those outcomes matters most comes down to whether you are prioritising rental income or capital growth and to your personal 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	$900K	N/A
Change in value Past 12 months	5.8%	N/A
Sold Past 3 months	11	1
Median days on market Past 12 months	27	N/A
Average rent Past 12 months	$700	$500
Change in rent Past 12 months	2.2%	9.9%

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