Illawarra house prices continue to surge more than any other NSW region outside of Sydney, according to new NAB figures.
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The bank’s latest Housing Market Report shows in the year to November 2016, house prices in the region rose 12.9 per cent, almost double the regional NSW average.
Sydney had the highest growth at 15.5 per cent in the last 12 months to December 2016.
NAB predicts Sydney house prices to rise 4.5 per cent this year and apartments around 1 per cent rise.
The report said coastal and lifestyle housing markets are showing stronger capital gain conditions as the tourism sector improves and housing demand returns to the holiday and lifestyle sector.