TREND: A surge of local property development – what’s happening in Thirroul, Bulli and Woonona
In all the years I’ve called our area home, I’m sure this is the busiest time for property development I’ve ever seen.
It’s quite amazing to drive around places like East Bulli and Point St in Bulli, where it feels like every block has a house or two being renovated or rebuilt.
East Woonona is also experiencing a similar level of improvement, as energetic young families are inspired to invest by seeing the beauty of the precious beach location.
To me this is a signal of real confidence in our community and the future prospect of real estate prices.
Just this past month, for a 4-bedroom cottage in Westmacott Parade in Bulli, One Agency Downie Denison Pender achieved a record price for the area, compared to other properties of the same type. Along that street alone there are four houses which are being rebuilt.
These properties are going for blue chip prices. This is positive, considering talk of other markets outside our area easing. To me it shows buyers are confident of a solid market continuing around our area.
Also this month, Domain ran a story quoting me about the buoyed market around Thirroul, which has seen robust growth in the past three years. So too has surrounding suburbs like Austinmer, Bulli and Woonona. The energy in the area is obvious based alone on the large amount of development we’re all seeing.
Yes, there are pockets with more development than others. Those areas have streets of houses which can be improved on and researchers of our market are jumping on these opportunities.
East Bulli and Westmacott Parade, for example, are very close to the beach and have areas of government housing now being sold, making way for lively rejuvenation.
Of course, many of us have known for a long time this beautiful place of ours is unique. It’s exciting there is a surge of enthusiasm to invest more in our homes, which will no doubt lead to a stronger community.