Why Nowra property trends showcase Shoalhaven’s appeal
A gloss over Nowra property trends reveals a bigger story about the Shoalhaven region. A story about how the region has grown into one of regional NSW’s thriving regional centres.
Nowra’s property trends highlight excellent value given its proximity to major urban centres, tourist hotspots and strong industry centres.
Nowra sits as the hub for the City of Shoalhaven. It’s a bustling region of thriving towns straddling the lower reaches of the Shoalhaven River.
With the area known for tourism, dairy farming and a large navy base, there are plenty of reasons why people have moved here in recent years. So what do Nowra property trends reveal for the greater Shoalhaven region?
City of Shoalhaven profile
The City of Shoalhaven is not a city. Instead, it became an area formed between the merger of several smaller towns and boroughs. Since the region was founded in 1949, the population has skyrocketed to over 100,000 people. This makes it one of the larger regional areas of New South Wales.
Most of the main activity of the Shoalhaven region is found in the town of Nowra. Nowra has grown tremendously in recent years starting as a small dairy town. However, its popularity as a tourism hub and increasing presence for new industries has seen the city grow to a population of 33,000. It also has excellent links to Sydney and Canberra by road and rail.
This growth has come not just to strong infrastructure though. The stationing of HMAS Albatross gives Nowra attention from the defence industry. Meanwhile, the popularity of nearby beaches and picturesque towns make the wider Shoalhaven region a booming tourism hotspot. It has turned other towns such as Ulladulla, Sussex Inlet and Jervis Bay into thriving seaside towns.
Shoalhaven Key Details
Population: 109,895 (2023)
Dwellings: 58,695
Households: 45,896
Average Age: 48
Nowra Property Trends Revealed
Nowra
Nowra itself is the focal point of the City of Shoalhaven. With a population of 33,000, Nowra is comfortably the largest town in the region and continues to enjoy steady growth year on year. The town is bisected by the Princes Highway allowing for quick access to areas such as Sydney and Wollongong.
One of the most surprising things about Nowra property trends is the surprisingly average value. In Nowra, the average property price is $650,000. This comes despite the town being just over 100km from Sydney. It means a three-bedroom home costs an average of $600,000 – significantly lower than towns closer to Sydney. Units are also extremely good value selling for an average of $440,000. This is a remarkable drop compared to September 2023 when averages were 12% higher. This low turnaround showcases how Nowra property trends are more affordable than ever before.
Nowra Details
Population: 33,583
Average House Value: $650,000 (Sept 2024)
Average Unit Value: $440,000 (Sept, 2024)
Average Rental Figure: $510p/w (house) $390p/w (unit)
Bomaderry
Sitting opposite Nowra across the Shoalhaven River is Bomaderry. Long considered an extension of Nowra, Bomaderry is a sprawling town that has grown with local industries. The town of 8,000 sits at the end of the Illawarra Line giving direct rail access to Sydney and Wollongong. Furthermore, it sits as the focal point for the local dairy industry making it one of the busiest trade hubs in the Shoalhaven valley.
What this means is that Bomaderry’s active presence helps boost overall Nowra property trends and numbers, The town’s property market has grown to boast average house prices of $730,000. This sits at a 7.3% increase between September 2023 – September 2024. This falls just short of the decade-high mark set in November 2022. Units also continue to sell better than Nowra itself with an average unit going for $485,000 – a 2% over the last 12 months. It showcases why the town is a key player in influencing Nowra property trends every year.
Bomaderry Details
Population: 8,718
Average House Value: $ 730,000
Average Unit Value: $485,000
Average Rental Figure: $500p/w (house), $410p/w (unit)
Shoalhaven Heads
Just a short distance east of Nowra is Shoalhaven Heads. Once a small fishing village, the town has grown to become a thriving tourist hotspot with over 3,000 residents. Its location on the mouth of the Shoalhaven River has made it popular with retirees looking to settle down as well as those wanting to capitalise on the tourism boom.
This can be easily seen by some of the highest property values in the Shoalhaven Region. The average price for homes in Shoalhaven Heads is $990,000. Although significantly higher than nearby Nowra, prices have remained constant staying at the same mark between September 2023- September 2024. This dead heat has helped keep Nowra property trends higher than some coastal regions of New South Wales.
Shoalhaven Heads Details
Population: 3,254
Average House Value: $990,000
Average Unit Value: $665,000
Average Rental Figure: $600p/w (house), $470p/w (unit)
Culburra Beach
There are few places in the region quite like Culburra Beach. This small town of 3,500 has always been a rich tourism draw thanks to its sea frontage. It has been a popular surf spot for residents across NSW and boasts 2 beaches dedicated to surfing. Its size also makes it a draw for others in smaller towns giving them vital access to key infrastructure and facilities.
However, the town’s location makes it one of the most sought-after properties in the Shoalhaven area. This is proven by the average house costing $965,000. That marks a 7% increase and the first continued rise in prices since March 2022. This means even a standard 3-bedroom home would set you back $913,300 – significantly higher than in bigger towns like Nowra.
Culburra Beach Details
Property: 3,582
Average House Price: $965,000
Average Rental Price: $550p/w (house), $480 (rent)
Sussex Inlet
South of Nowra, Sussex Inlet acts as the gateway to Jervis Bay. Backing onto some of the South Coast’s best beaches, the town has become an important hub for tourists and locals alike. The town not only has a tranquil feel but is one of the most developed areas with links to both the Princes Highway and Nowra itself.
Despite its stunning location, Sussex Inlet is surprisingly affordable compared to some neighbouring towns. Sussex Inlet has an average house value of $715,000 – an increase of 5% over the last year. Units in the town have surged particularly in popularity growing by 9%. This places the average unit price at $442,500 – just some $40,000 of the record set in October 2021 after the pandemic.
Sussex Inlet Details
Population: 4,694
Average House Price: $715,000
Average Unit Price: $442,500
Average Rental Price: $500p/w (house), $430p/w (unit)
Conclusion
As you can see, there’s a lot to look at when investigating Nowra property trends. The larger towns boast some of the cheapest properties. This means that families and tourists alike would likely prefer purchasing properties in towns like Nowra or Bomaderry. This is only driven home further by the expensive properties sitting in smaller towns like Culburra Beach or Shoalhaven Heads. Either way, it highlights why the region continues to grow and why Nowra property trends get stronger heading into the summer months.
To seek out the best options for purchasing a home, speak to a Wise Buy Home Lender for guidance today.
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