The Illawarra was arguably Australia's best performed region throughout 2010-2019 in terms of average price growth, according to one property expert.
"If you look at the numbers, that's not an outrageous statement," Simon Pressley, head of research at national property market researcher and buyer's agency Propertyology said.
"It's one of the strongest markets in the country when we look right across the decade.
"There are plenty of parts of Australia that had good periods... But right across the whole ten years, the Illawarra was one of the strongest regions in all of Australia."
Propertyology has released its 'Decade in Review (2010-2019) Report'.
The report found that, initially driven by a big influx in international investors followed by a lift in service sector jobs, Sydney's 46 per cent median house price increase was the best of the capital cities over the five years ending 2014.
Wollongong, Kiama and Shellharbour LGAs outperformed seven out of eight capital cities in this regard over the five years ending 2014.
Wollongong LGA's population growth was 20,227 (10.2 per cent), and had a median house price average annual growth of 6.1 per cent.
Kiama's population grew by 3167 (15.7 per cent), and had a house price average annual growth of 5.8 per cent.
Shellharbour's population increased by 8455 (13.1 per cent), and had an average annual price growth of 5.9 per cent.
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Mr Pressley said to a degree, the Illawarra market experienced a ripple effect from Sydney.
"In the early part of the decade it would have rode that same sort of wave as Sydney," he said.
"But while the region is expensive, it's never going to be as expensive as Sydney.
"And while it did have some over-supply challenges, it was nowhere near the volume that Sydney had.
"Sydney had this big boom, followed by a big downturn from mid-2017 to last year's federal election, but the Illawarra's downturn was nowhere near as significant as that."
The report found that investment in airport and highway infrastructure combined with the rollout of broadband internet created an improved connectivity between capital cities and numerous regional towns and cities.
"We will continue to see a trend for more Australians establishing roots in more affordable, less stressful regional cities," Mr Pressley said.
Looking ahead, Mr Pressley told the Mercury it was worth keeping in mind that Sydney's market will always have peaks and troughs like any market, and "it can be a bit of a leading indicator for owners of real estate in the Illawarra".
"But it's also important to appreciate that no two markets are exactly the same. So while the Illawarra will generally mirror the cycle, it does have its own economy.
"You've also got your own local construction sector, so the volumes of housing supply won't be determined by what does or doesn't happen in Sydney."