The Bulli trend: Find out by how much Bulli is growing and who is buying
We’ve had an amazing week at One Agency Downie & Denison-Pender. Four properties sold across Scarborough, Thirroul and Bulli. Strong prices too.
Bulli North is particularly strong. That is the area from Hospital Road on toward Thirroul. Vanessa and I call it the Blue-Chip strip. It’s where prices continue to be solid and improve month on month.
The reason is that it has so many options for buyers, from mountain living to a village lifestyle, all within walking distance to the beach.
The median house price has jumped nearly $250,000 in just one year in Bulli, to now be $1,100,000. 50% of all houses sold in Bulli are worth over $1M. Compared to Wollongong’s price growth, Bulli prices are growing at almost double the rate. Prices have gone up 29% in the last year.
So, who is buying in Bulli? Anecdotally, just seeing who is walking through our open homes, there’s a good mix of young professionals, first homes buyers and investors.
The official stats back that up. The largest group of people living in Bulli are kids under 9 years old. Over half of our neighbours are couples with kids and most of them bought the home they live in.
Almost 75% of homes are owner-occupied by professional people.
Understandably, being mostly professional people, Bulli residents are living comfortably. The largest portion (20%) of residents are those earning between $78K and $130K per year, of which an average of $1800 – $2400 per month is paid on the mortgage.
Where to from here Personally, I can see why people are still feeling they get such good value in Bulli. There isn’t much which can beat that feeling when you stroll down toward Sandon Point. You’ll always smile as you take-in the relaxed pace of the community around, while looking toward the ocean stretching north along the coast, all the way to the Royal National Park. Just great!