Question 1

Is Warilla a nice place to live?

Accepted Answer

Warilla is a delightful coastal suburb that offers a charming and laid-back lifestyle, perfect for those who appreciate the beauty of the ocean and a strong sense of community. This suburb is known for its stunning beaches, making it a haven for beach enthusiasts and those who enjoy outdoor activities. The vibe in Warilla is relaxed and welcoming, with a mix of families, retirees, and long-term residents who contribute to its friendly atmosphere. The suburb's proximity to both the beach and Lake Illawarra provides ample opportunities for water-based activities such as surfing, swimming, and boating, ensuring there's always something to do for those who love the outdoors.

Families will find Warilla particularly appealing due to its community-oriented lifestyle and access to local schools, making it a great place to raise children. The suburb offers a variety of residential options, from classic beachside homes to modern developments, catering to diverse preferences and needs. While Warilla may not have the bustling nightlife of a city center, it compensates with its peaceful environment and the convenience of local shops, cafes, and parks, which are perfect for leisurely weekends and family outings.

One trade-off of living in Warilla is the lack of major new transport links or large-scale infrastructure projects, which means residents may need to rely on existing amenities and the broader regional growth in the Illawarra and Shellharbour corridors. However, this also means that Warilla maintains its coastal charm and avoids the hustle and bustle of more urbanized areas. Safety is generally not a major concern, contributing to the suburb's appeal as a family-friendly location. Overall, Warilla offers a balanced and fulfilling lifestyle for those seeking a serene coastal living experience with a strong community spirit.

Question 2

Is it expensive to live in Warilla?

Accepted Answer

Living in Warilla can be a bit of a financial stretch, especially when you compare it to the average earnings across New South Wales. The median house price in Warilla is currently around $879,000, which is quite a significant sum. If you're considering renting, the average rent for houses is approximately $670 per week, while units are slightly more affordable at around $540 per week.

When you look at the income side of things, the median total household income in Warilla is about $987 per week. This is noticeably lower than the NSW state average annual salary of $109,000. Given these figures, living in Warilla could mean that a large portion of your income goes towards housing costs, whether you're buying or renting.

While Warilla offers a coastal lifestyle away from the hustle and bustle of a capital city, the cost of living, particularly in terms of housing, might be challenging for those earning closer to the local median income. It's important to weigh these costs against the lifestyle benefits to see if Warilla fits within your budget.

Question 3

Is Warilla a good place to invest?

Accepted Answer

Warilla presents an intriguing opportunity for property investors, particularly when it comes to units. Over the past year, the median unit value in Warilla has surged by an impressive 33%, indicating a strong demand and potential for capital growth in this segment. This is further supported by the significant 17.4% increase in unit rents, suggesting a robust rental market that could provide attractive returns for investors.

While the median house value has remained stable with no change over the last 12 months, the rental market for houses has seen a healthy 6.3% increase. This stability in house prices, combined with rising rents, suggests that Warilla could offer a reliable investment option for those seeking steady rental income. The suburb's coastal location and community vibe make it appealing to both renters and potential buyers, adding to its investment allure.

Overall, Warilla's strong unit market performance and steady rental growth make it a promising suburb for investors, particularly those interested in units. The combination of capital appreciation potential and rental income growth positions Warilla as a suburb worth considering for property investment.

	Houses	Units
Median price Past 3 months	$855K	N/A
Change in value Past 12 months	-2.6%	48.9%
Sold Past 3 months	27	7
Median days on market Past 12 months	20	43
Average rent Past 12 months	$675	$540
Change in rent Past 12 months	3.8%	16.6%

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