September 2025 Market Update

Market Update: Illawarra Property Market Gains Momentum

Australia’s housing market is gathering pace this spring, with the median dwelling value rising 0.8% nationwide, the strongest sign yet of renewed growth, according to the latest data from Cotality.

“After averaging half a per cent growth for the first seven months of the year, we’re now seeing prices really ramp up as we head into the spring selling season,” said Eliza Owen, Cotality’s Head of Research.

Owen cited interest rate cuts, real wages growth, tight supply, and anticipation over the expanded First Home Buyer Scheme as key drivers of the renewed momentum.

Locally, Fairy Meadow and Wongawilli have led the charge, recording strong year-on-year gains.

Tim Bartlett, lead agent at Bartlett and Co. Property, expects the Illawarra property market to stay active through spring.

“We’re three interest rate cuts into this cycle, and those have now flowed through to boost borrowing capacity,” he said. “We’re already seeing more confidence and movement from buyers.”

First Home Buyer Scheme Provides Boost for the Illawarra

All eyes are on the Illawarra property market heading into the final quarter of the year, with the Federal Government’s expanded First Home Buyer Scheme now in effect.

The scheme enables new buyers to purchase a home with as little as 5% deposit, with the Government guaranteeing the remainder and helping them avoid costly lenders’ mortgage insurance.

While the initiative is designed to make housing more accessible, some experts warn that increased borrowing power may add upward pressure to prices.

Bartlett believes it will particularly benefit sellers in the mid-range market.

“The new price cap for the Illawarra has increased from $900,000 to $1.5 million, which will lift demand in that bracket,” he said. “It also shortens the time it takes for first-home buyers to save a deposit which is a real win for local upgraders and downsizers alike.”

How to Make Your Illawarra Home Shine This Spring

With jacarandas blooming and longer coastal days returning, spring is the ideal time to refresh your home and make it stand out. Whether you’re preparing to sell or simply want to enjoy a lighter, brighter space, these quick updates can transform your home’s appeal.

“Spring is the season when buyers are emotionally ready to fall in love with a home,” says Tim Bartlett. “Simple presentation changes can make a huge difference, both in person and online.”

Your exterior sets the tone. Pressure-wash driveways and paths, trim hedges, edge lawns, and add colour with Illawarra-friendly natives like grevilleas or kangaroo paws. A new doormat and sparkling windows create an instant welcome.

Spring light is flattering, so let it in. Swap heavy curtains for sheers, wash windows, and use mirrors to reflect natural light. Bright, airy interiors feel larger and more inviting to buyers.

The Illawarra lifestyle is built around indoor-outdoor flow. Update your deck or courtyard with new cushions, a small dining setting, or string lighting for evening ambience. If you’re lucky enough to have ocean or escarpment views, arrange furniture to highlight them.

“Presentation doesn’t have to cost a fortune,” Tim adds. “It’s about creating an emotional connection. A well-styled Illawarra home this spring will absolutely stand out in the market.”

Wollongong World Triathlon Championships to Showcase the Region

Wollongong is set to take centre stage in October as it hosts the World Triathlon Championships, bringing elite athletes, visitors and media to the Illawarra. The event will shine a global spotlight on Wollongong’s lifestyle, coastline, and booming real estate market.

“The triathlon is more than a sporting event, it’s a showcase of everything that makes Wollongong one of Australia’s most liveable coastal cities,” says Tim Bartlett, lead agent at Bartlett and Co. Property. “When you have the world’s eyes on your city including the beaches, the escarpment, the lifestyle, it reinforces why people want to live, invest and stay here.”

With international coverage beamed across Europe, Asia and North America, the event will highlight Wollongong’s transformation from an industrial hub into a thriving, modern city. From the café culture of North Wollongong to the new developments in Fairy Meadow, Coniston, and Shellharbour, the Illawarra’s mix of coastal charm and urban energy will be on full display.

Tourism experts predict that the influx of visitors could generate long-term benefits for the local housing market as more interstate and international buyers discover the region.

“We’ve already seen growing interest from Sydney buyers relocating for lifestyle and affordability,” says Tim. “Events like this create that extra spark — people come here for a week and start imagining life by the beach. That emotional connection is powerful in real estate.”