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As seen in the Source link, written by couriermail.com.au on 2019-10-16 20:40:37

Helensburgh near Stanwell Tops is set for a boom. Picture: Gary Cowling.

Houses in one Wollongong suburb are set to earn their owners the equivalent of the average Illawarra household income for the coming years.

Property research reveals that Helensburgh homeowners are braced for a financial windfall to the tune of $71,148 a year for the next three years as the market shows signs of a recovery.

SuburbGrowth.com.au — part of the Select Residential Property Research Group (SRP) — named Helensburgh third on the list of Australian suburbs forecasted to see median house price growth of up to 30 per cent.

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Helensburgh is tipped to see its median house price grow by 26.6 per cent or $213,446 in the three years. Currently the suburb’s median house price is $747,000.

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Top 10 Australian suburbs for property price growth.

The Melbourne suburb of Balaclava topped the list with a forecasted growth of 30.30 per cent, followed by Narraweena in Sydney, with homeowners there to pocket $386,387 during the period.

SRP Director of Research Jeremy Sheppard said the research identified the suburbs with sound market fundamentals, including the economic principals of demand and supply, that apply upward housing price pressure.

“The analysis uses 17 market variables to help us determine the locations with the best chance of superior price growth over the next three years,” Mr Sheppard said.

Mr Sheppard said Helensburgh looked to be one of the most promising real estate markets in the country.

“Helensburgh’s location as well as affordability compared to Sydney are just some of the reasons why this suburb is poised for growth,” Mr Sheppard said.

“These suburbs (like Helensburgh) all have a number of desirable features, however, one of the main reasons why house prices are forecast to grow is an imbalance of demand to supply.”

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No. 75 Rajani Rd, Helensburgh, has a $830,000-$890,000 price guide.

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No. 5/12 Walker St in Helensburgh is also for sale.

Ray White — Helensburgh agent Ron Kissell, who is selling 75 Rajani Rd in Helensburgh, said the market has definitely shown signs of picking up pace.

“Helensburgh has seen revitalised interest from buyers, but is facing the same challenges like other markets, such as stock,” he said.

Mr Kissell said being surrounded by national park and its proximity to the ocean, gave Helensburgh a competitive advantage to many other parts of Illawarra.

“Buyers are coming to Helensburgh, as they feel that places like Sutherland Shire and Wollongong have become too overcrowded,” he said.

“Here they can live 50 minutes from Sydney and maintain a peaceful lifestyle.”

According to CoreLogic, Helensburgh has seen a 0.2 per cent growth in its median sale price for the past three months.

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