Question 1

Is Lake Illawarra a nice place to live?

Accepted Answer

Lake Illawarra centres on a relaxed waterside lifestyle of boating, fishing and foreshore parks. Streets are mostly single-storey mid-century brick homes with some newer infill and a number of waterfront blocks that have easy access to boat ramps and walking paths. Local playgrounds, picnic reserves and cycle routes make the lake easy to enjoy, while small shops cover daily needs and regional roads and bus services link the suburb to surrounding coastal towns.

The community of 3,288 people has a median age of 43 and a median household income of $1,069 a week (roughly $55,600 a year). Residents include families, retirees and commuters, and tenure is split between renting (50.3%) and owner-occupation (49.7%), so the area works for a range of households. Several lakefront and local projects are under way or planned, including foreshore upgrades, jetty and boat-ramp improvements, parkland and seawall works and a new public preschool under construction. Whether that lakeside lifestyle suits you will depend on what you are after.

Question 2

Is it expensive to live in Lake Illawarra?

Accepted Answer

On the figures, renting in Lake Illawarra would take a large share of what a typical local household earned at the last Census. With a Census household income of $1,069 a week, a house rent of $700 a week is about 65.5% of that weekly income and a unit rent of $520 a week is about 48.6%. If you are renting rather than buying, those rent shares are the key numbers to consider; whether they 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.

Question 3

Is Lake Illawarra a good place to invest?

Accepted Answer

Unit values led the way in Lake Illawarra over the past 12 months, rising 13.9%, a strong increase, while house values also recorded a strong rise of 10.3%. Those two numbers speak to capital growth on each property type during the year.

If rental income is your focus, house rents increased by 7.7% over the same period, a solid rise, while unit rents were up 4.0%, a more modest gain — so the rent a house earns rose faster than the rent a unit. Which of those outcomes matters to you will depend on your own investment 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	10.3%	13.9%
Sold Past 3 months	3	4
Median days on market Past 12 months	27	35
Average rent Past 12 months	$700	$520
Change in rent Past 12 months	7.7%	4.0%

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