Coledale Summer Review 2024/25
- Joel Hynes
- Jan 22
- 2 min read
A Coastal Gem: Coledale in Focus
Coledale, nestled between the Pacific Ocean and the Illawarra Escarpment, is a picturesque suburb celebrated for its pristine beaches, vibrant community spirit, and laid-back lifestyle. This coastal haven remains an attractive destination for families, professionals, and retirees seeking a serene yet accessible home base close to both Sydney and Wollongong. The summer months brought renewed energy to Coledale’s property market, as warmer weather and holiday spirit spurred interest in this idyllic locale.
Market Overview
Summer Trends
The 2024/25 summer season has witnessed continued demand for Coledale properties, driven by lifestyle buyers prioritizing beachside living. Limited property inventory has sustained strong price levels, with houses remaining the most sought-after property type. Summer’s allure increased inquiries from urban buyers seeking a coastal escape.
Sales Data
Category | Details |
Total Properties Sold | 15 |
Sales by Property Type | Houses: 12 Apartments: 3 |
Median Sale Prices | Houses: $2,000,000 Apartments: $875,000 |
Notable Sales | A beachfront home on Lawrence Hargrave Drive fetched $3,800,000. A modern 3-bedroom house on Squires Crescent sold for $2,250,000. |
Rental Market Insights
Category | Details |
Median Weekly Rent | Houses: $950 Apartments: $620 |
Vacancy Rates | 1.2%, reflecting strong tenant demand. |
Rental Demand | High interest from families and professionals relocating for lifestyle benefits. |
Key Buyer Trends
Who’s Buying?
Families: Seeking a safe, community-focused environment with excellent schools.
Professionals: Commuting to Sydney or Wollongong while enjoying coastal living.
Retirees: Searching for tranquillity and breathtaking views.
What’s in Demand?
Properties offering ocean views or close proximity to beaches.
Modern homes with energy-efficient designs and outdoor entertainment areas.
Move-in-ready homes with minimal renovation needs.
Market Influencers
Influencing Factors | Details |
Economic Climate | Stable interest rates and strong buyer confidence. |
Seasonal Boost | The holiday period increased buyer interest in lifestyle properties. |
Local Enhancements | Upgrades to Coledale’s local amenities and transport services enhanced its appeal. |
Property Price Trends
Month | Median House Price | Median Apartment Price |
July 2024 | $1,950,000 | $890,000 |
August 2024 | $1,940,000 | $880,000 |
September 2024 | $1,930,000 | $875,000 |
October 2024 | $1,920,000 | $870,000 |
November 2024 | $1,910,000 | $865,000 |
December 2024 | $1,900,000 | $860,000 |
Looking Ahead: Predictions for 2025
Category | Details |
Market Outlook | Demand expected to remain strong, particularly in the $1.5M to $2.5M range. |
Opportunities for Buyers | Early 2025 offers a chance to secure properties before autumn competition intensifies. |
Investor Insights | Rental yields remain attractive due to low vacancy rates and high tenant demand. |
For Renters | New rental properties expected to enter the market as developments conclude. |
Why Coledale Stands Out This Summer
The summer of 2024/25 has cemented Coledale’s reputation as a coveted coastal destination. With its blend of natural beauty, upgraded local amenities, and robust property market, Coledale offers a lifestyle that appeals to a diverse range of buyers and renters.
Sources
Note: Information reflects trends and data as of December 2024.
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