15/19-21 Gipps Street, Wollongong NSW 2500
15/19-21 Gipps Street, Wollongong NSW 2500
3-bed 2-bath 2-car apartment | inner Wollongong strata | walk to CBD, hospital, beach | scarce family-sized unit stock | heritage and flood checks relevant
A three-bedroom, two-bathroom apartment with two secure car spaces is rarely found in an inner-city market, and this unit offers that configuration within walking distance of the CBD, hospital precinct, and beach corridor. The property sits in an established strata building where older and newer apartment stock coexist, giving it a practical low-maintenance character suited to owner-occupiers, especially downsizers and professional households. Its size and parking provision lift it above the 1- and 2-bedroom investor units dominating local supply, so it is likely to compete primarily with larger premium apartments rather than standard housing.
Value may be influenced by floor level, aspect, and building condition given the complex dates from the late 1990s. Heritage and flood overlays near Gipps Street might affect alteration options or insurance costs. Finishes and presentation will likely drive price, as the local market spans standard and premium fitouts. Re-sale demand should hold given the scarcity of this layout.
Detailed Independent Property Report prepared by PropCred Analyst team for 15/19-21 Gipps Street, Wollongong NSW 2500
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
1
Income Risk
1
Execution Risk
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Market Insight
Wollongong sits as a coastal city south of Sydney with strong connectivity, yet its market is defined by a clear apartment tilt: 64% of sales are units against 36% houses. Buyer demand is led by Sydney migrants, owner-occupiers, and population growth, supported by infrastructure spending in health, education, and transport. House prices have moved unevenly, with medians ranging from $1.2M to $1.39M and growth reported between 4% and 28%, while units sit near $740K-$755K with ~4.4-5% annual growth. Conditions show a market in adjustment, still undervalued but favouring strategic rather than speculative entry. Rental demand is firm: house rents are up 10.3% and units 8.3%, pushing median house rent to $750 and units to $650, with vacancy a tight 1.0% and gross yields at 3.2-3.8% for houses and 4.2-4.3% for units. The key constraint is affordability spread: median prices across the City of Wollongong vary sharply from $831K to $1.5M, reflecting supply differences and rate sensitivity. The infrastructure pipeline and migration flows are the main forward drivers, but the wide price dispersion and adjustment phase mean the market rewards selectivity.
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PropCred Estimated Value
Comparable Sales: 4/19-21 Gipps St sold $1.4M; 1/45 Gipps St sold $925K | Property Price Band: $1.2M–$1.3M | Value Drivers: family-sized layout, two-car parking, presentation and building quality
Bedrooms
3
Bathroom
2
Parking
2
Land
2406m²
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