Illawarra Property Market Update — Auction Clearance Firm & Prices Steady — Week Ending 1 February 2026

Auction clearance rates in the Wollongong region have remained solid, and median price benchmarks are holding firm despite constrained listings, indicating continued underlying buyer demand in the Illawarra market.

Key Stats — Week Ending 1 February 2026

Indicator	Latest Available
Auction Clearance (Wollongong)	~59% based on weekend results (Mon 26 January–Sun 1 February)
Auction Volume (Wollongong)	2 reported auctions + associated private sales
Median House Price (Wollongong)	~$1,300,000 (12‑mo rolling)
Median Unit Price (Wollongong)	~$735,000 (12‑mo rolling)
Total Listings (Wollongong)	Modest stock; monitored via SQM asking price & stock indicators
Days on Market (Indicative)	Longer‑term data suggests typical selling windows (houses 40‑60+ days)
Vendor Discounting	Not published weekly; long‑term trend shows modest discounting

Notes:

• Auction clearance is a weekly snapshot from realestate.com.au's Wollongong results.

• Median sale prices are rolling annual figures from local market profiles.

• Detailed weekly data for Shellharbour and Kiama isn't available from free public feeds; broader Illawarra trends generally align with Wollongong benchmarks.

What This Means for Buyers

In the week ending 1 February 2026, Illawarra's property market shows very real buyer engagement, with around 59% auction clearance in the Wollongong area — a positive reading in a market where auction results fluctuate strongly with small sample sizes.

Median house and unit prices in Wollongong are holding close to ~$1.3 million and ~$735K respectively when viewed through the latest rolling annual data.

These benchmarks suggest that values have steadied rather than declined, even amid softer seasonal auction activity.

Listings remain relatively limited — a pattern seen across much of the Illawarra, where stock availability tends to constrain buyer choices.

This dynamic typically supports price resilience and can put prepared buyers at an advantage when quality properties are listed.

Longer‑term data suggests properties often sit on the market for a moderate period (40–60 days plus), indicating that buyers can find opportunities if they calibrate offers to market conditions and are ready with financing.

Key buyer takeaways:

• Clearance holding: Auctions are clearing at a decent rate, reinforcing active buyer engagement.

• Price stability: Median prices aren't softening materially —a strong sign for buyers planning for longer‑term value.

• Limited listings: Tight stock means competition persists; being ready to act fast gives an edge.

• Strategic negotiation: Where properties linger, there may be room for negotiation even if headline prices are stable.

4–6 Week Outlook

• Spring auction activity returns: With more scheduled auctions approaching in February and March, we should see fuller weekly clearance data and a broader view of demand across the Illawarra.

• Listings likely to rise: After the seasonal lull in late January, more properties should hit the market — especially as vendors refresh listings post‑holiday. This can offer buyers more choice.

• Price benchmarks expected to hold: Given constrained supply and solid lifestyle appeal, median values are forecast to remain stable rather than decline over the next month or two.

• Prepared buyers move first: High‑quality properties in the right suburbs will continue to attract attention quickly. Having finances in order and clear criteria will be a competitive advantage.

• Private sales still significant: Many transactions occur outside the auction, especially with limited catalogues, so buyers should monitor private treaties closely.

Overall

The Illawarra real estate market is demonstrating a strong sense of activity and resilience.

This environment is particularly beneficial for well-prepared buyers who are ready to act quickly.

As we enter early spring, there has been a noticeable increase in property listings, providing more options for buyers to explore.

Despite this influx of new listings, property prices have remained stable, which is good news for those looking to invest.

Buyers who approach this market with careful preparation can capitalise on these conditions and find opportunities that align with their goals.

Overall, the current landscape suggests that engaging with the Illawarra market now could be a strategic move for motivated buyers.

Sources

• Wollongong auction clearance & results — realestate.com.au auction results (Wollongong)

• Median house & unit prices (Wollongong) — realestate.com.au market profile

• Stock on market trends — SQM Research total listings (Wollongong)

• Days on market & regional pricing trends — council/market data summaries