Real estate agents in Wollongong's northern suburbs are predicting a bumper spring after a bright start to the season, highlighted by the sale of a Reef Avenue property in Wombarra on Thursday for $2.5 million.
The beachfront property was snapped up just a week after the sales campaign began by a buyer from Sydney's eastern suburbs, according to Simon Beaufils of Ray White Helensburgh.
The renovated three bedroom cottage is located in a private beachfront location on a good-sized 1400 square metre block with 270 degree views.
Mr Beaufils said the first major spring sale came on the back of other million-dollar sales in Wollongong's north in recent weeks.
His agency sold a three-bedroom home at 95 Morrison Avenue, Wombarra, for $1.045 million, while a classic four-bedroom property at 54-56 Park Road, Bulli, sold at auction last month for $1.45 million.
Last month a Marine Parade house at Towradgi sold through O'Connor First National for $1.8 million, while an Alroy St, Bulli, residence was purchased prior to auction for $1.2 million through Belle Property Wollongong.
"There appears to be a spike in the market, inspections are definitely up and sales are up," Mr Beaufils said.