Kanahooka, on Lake Illawarra south of Sydney, has a mature, stable buyer base: high share of over-55s, half own outright, and 45% are childless couples. This drives low-turnover demand for housing near Lake Illawarra. House prices range $870k–$925k, with recent annual growth of 3.0–3.45% and long-term CAGR near 6% over 36 years. Units sit around $751k–$830k. Houses sell in 18–41 days; rental yields near 4.2% for houses. Future growth rests on consistent long-term appreciation and lifestyle appeal, but the market is below long-term trend after an adjustment. Key constraints: affordability at 13.4x price-to-income and interest rate sensitivity.