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Lake Heights suburb profile

Lake Heights is a picturesque suburb located in the Illawarra region of New South Wales, offering stunning views of Lake Illawarra and the surrounding escarpment. Known for its serene environment and family-friendly atmosphere, the suburb provides a peaceful retreat while still being conveniently close to Wollongong's city centre. Lake Heights features a mix of residential properties, including classic homes and modern developments, catering to diverse lifestyles. The suburb is well-served by local amenities, schools, and parks, making it an attractive choice for families and individuals seeking a balance of natural beauty and urban convenience.

Lake Heights property market performance

Lake Heights’ property market has experienced growth, with house values increasing by 5.5% over the past 12 months, bringing the median house price to $895,000. Unit activity is minimal, with negligible sales impacting the median value. Over the past three months, 16 houses changed hands, with a brisk median market time of 24 days, reflecting strong demand.

Rental prices have seen varying trends, with house rents rising by 2.9% and units experiencing a significant rent increase of 11.1%, reaching an average of $700 and $500, respectively. These figures indicate a dynamic rental market, despite the low volume of unit sales.

HousesUnits
Median price
Past 3 months
$1.04MN/A
Change in value
Past 12 months
6.3%N/A
Sold
Past 3 months
101
Median days on market
Past 12 months
26N/A
Average rent
Past 12 months
$700$500
Change in rent
Past 12 months
2.9%11.1%

5 year median price trend for houses and units

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Lake Heights demographics

Lake Heights, nestled in the Illawarra region of New South Wales, offers a serene suburban lifestyle with a touch of coastal charm. With a population of 4,105 and a median age of 36, the suburb is home to a diverse mix of families, professionals, and retirees. The area is known for its scenic views of Lake Illawarra and its proximity to both the lake and the ocean, providing residents with ample opportunities for outdoor activities and relaxation.

The suburb's family-friendly environment is reflected in its household composition, with 43% of families being couples with children and 35.5% being couples without children. One-parent families make up 19.7% of the community, highlighting the suburb's inclusive nature. The median total household income of $1,356 per week suggests a modest yet comfortable living standard for its residents.

Property ownership in Lake Heights is relatively balanced, with 38.7% of homes owned outright and 31.7% owned with a mortgage. This stability is complemented by a rental market that accounts for 29.6% of properties, catering to those seeking flexibility. The suburb's blend of affordability, natural beauty, and community spirit makes it an appealing choice for those looking to settle in a peaceful yet well-connected area.

Suburbs near Lake Heights

Some popular suburbs near Lake Heights include:

  • Warrawong: Known for its shopping centers and multicultural community, Warrawong is located directly south of Lake Heights.
  • Cringila: Featuring a strong industrial presence and diverse population, Cringila is situated to the north of Lake Heights.
  • Primbee: Known for its scenic lakeside views and relaxed atmosphere, Primbee lies to the southwest of Lake Heights.
  • Berkeley: Offering a mix of residential and recreational areas with beautiful lake views, Berkeley is located to the northwest of Lake Heights.
  • Port Kembla: Known for its industrial port and stunning beaches, Port Kembla is situated to the east of Lake Heights.

How does Lake Heights compare to nearby suburbs?

  • Median house prices: Lake Heights’s median house price is 10.5% higher than Warrawong’s.
  • House price growth: Over the past 12 months, house prices in Lake Heights have grown 9.0% higher than in Primbee.
  • Selling speed for houses: Properties in Lake Heights are selling 29.7% faster than in Primbee.

Choose the right real estate agents in Lake Heights

Currently, there are 53 real estate agents working in Lake Heights—but not all agents deliver the same results. The right agent could make a huge difference to your final sale price.

Only 5 out of these 53 agents sold 23.5% of all properties in Lake Heights over the past year. Choosing one of these top-performing agents means tapping into proven expertise for a better sale outcome.

Real estate agents in Lake Heights typically charge a commission of 1.63% to 2.63%. Negotiating a fair commission rate and the right structure can motivate your agent to work even harder, helping you sell for more and potentially saving you thousands of dollars.

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