Property Value – Wollongong
When buying a piece of real estate, where the property is within your chosen location is almost as important as the city itself. Where in a city a house is located can greatly influence the property value. This is because houses located in one area or neighbourhood might have easier access to the amenities that many people are looking for. The city of Wollongong is a prime example of how the area in which you purchase your home impacts its property value. The city of Wollongong is made up of urban, beachside, and suburban living, with each area influencing property values in different ways.
Houses that are located in the more urban, central core of the city of Wollongong, provide residents with easy access to the many amenities that drew them to the city in the first place. These include access to the well-developed public transit system, businesses, shopping, cultural landmarks, and performance venues. In addition, residents who live in the central area of Wollongong also experience the benefits of being in an area filled with opportunities. The city center is home to some of the most established schools in the city, and is also an area that is filled with opportunities for employment. Because central area of the city is where a lot of the employment and networking takes place, it only makes sense that living in the hub of it all, especially to young professionals trying to establish themselves in their field.
For many people living in the suburbs is a very attractive idea, moving further out from the city core homeowners generally get more space both in house and lot size for their money. Along with this, suburbs often mean quitter streets, and in many ways a more family oriented neighbourhood for children to grow up in. Many parents find these aspects to be very appealing, and enjoy raising their children close to the city, but in a quitter area. There are a few tradeoffs to moving further out, one of them as stated above is that properties tend to come with more space. However, there is also a further commute into the city, meaning that more time is spent in your car getting to and from work, or taking the children to and from school. Depending on where you move, the public transit may or may not run, and in many cases will run on a reduced schedule.
The city of Wollongong is different from many others in that there are locations within the city that combine city living with a beachside lifestyle and coastal views. Generally this area is made up of multi-level housing, and is found just north-east of the city of Wollongong’s main commercial and industrial hub.
The city of Wollongong is set up that even the suburbs are relatively close to the main commercial hub of the city. With a shorter commute than other cities have between their urban center and their suburbs, this is a major attraction for perspective buyers looking to have it all. However, the property values in these areas that are further out still reflect the distance, and the difference the accessible amenities. Property values within the city of Wollongong, and most major cities are reflective very much of where exactly the house is located. Houses for example located just north-east of the commercial hub have the unique distinction of combining the various lifestyles, of urban, coastal, and beach, because of this the property values in this area reflect that and are different than those of houses in strictly urban or suburban areas.