Her Wombarra property has gained $500,000 in value in the three years since she bought it, thanks to the current property boom.

Jackson paid $1.3million for the three-bedroom house with ocean views in 2012, a bullish run of median house growth would put its value at close to $1.8million, according to John McGuiness, of AM Rutty Austinmer, who sold it to her.

Trustee for Jackson’s bankrupt estate Paul Leroy, of Hall Chadwick, is already going through the process of obtaining an independent valuation on the property, but adds it is too early to determine if or when the property would be sold.

‘‘In the event it is sold, the Health Services Union is like to be a major creditor,’’ said Mr Leroy.

Federal Court Justice Richard Tracey found Jackson guilty on Wednesday of misusing her position as head of the union to fraudulently gain financial advantage, and claiming unauthorised expenses to fund her lavish lifestyle.

Among some of Jackson’s claimed expenses were her fine dining and clothing bills, personal mortgage repayments, and flights and hotels on multiple overseas vacations.

Jackson declared bankruptcy on June 29, a week after she and husband, Fair Work Commission vice-president Michael Lawler, lodged a caveat on the almost 5000square metre property transferring ownership into both their names.

One of the issues for Mr Leroy has to consider in relation to a possible sell-off of the property is Mr Lawler’s claim of an equitable interest in the estate.

Boasting an impressive landscaped garden, ‘‘Casita del Mar’’ was bought by Jackson after only seven days on the market. 

‘‘Values locally have been riding the same highs that are coming out of Sydney as buyers look for more affordable house options here,’’ said Mr McGuiness. 

‘‘As I understand it, the owner has also done some work on the property too.’’