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Collapse Issue 489:<br />2 Mar 2020<br />_____________Issue 489:
2 Mar 2020
Collapse  NEWS NEWS
Anglican parish decides to sell St Andrews church
Tesch calls for more Return and Earn machines
Beach sculptures 'pop up' after storms
Future of Peninsula real estate given mixed assessment
Biddy turns 103
Work starts on traffic measures in Memorial Ave
Discussion about Mt Ettalong reserve plan invited
Mattress recycle project may extend to Woy Woy tip
All future council meetings to be held in Wyong
Council supports Coastal Twist festival with $50,000
Chair of Local Planning Panel announced
Springwood St seniors housing project to start this year
Two road projects approved
Local author's story included among 100
Rotary club hosts 20 exchange students for weekend
Golden retriever starts fortnightly visits
CWA branch receives donation for sock campaign
Evening patchwork in Ettalong
Village residents raise $1050 for bushfire appeal
Company grows from Ettalong lounge room
Union claims power delays due to job cuts
Rotary club provides shirts for Ugandan school teachers
Pacific Link proposal reduces social housing
Rubbish spoils thoroughfare to beach
Repeating an action and expecting a different result?
Council has always been opposed to Wallarah 2
Woy Woy Hospital to receive four new nurses
Clowns entertain aged care residents
Golf club donates pumps for 'chemo at home'
Hosts wanted for mental health barbecues
Collapse  ARTS ARTS
Two contribute to award-winning film
School adopts web software for administrative efficiency
Laptops and smartboards usher in new era
Leave precious items at home, parents warned
Canteen manager celebrates 25 years
Sunscreen and mosquito repellent use encouraged
Learning to make sushi
Annabelle returns with medals
Student artworks chosen for regional exhibition
School library transformed to match book fair theme
Charlotte receives scholarship for further education
Parents reminded about cycling helmets
Students selected for mentoring program
A taste of rugby league
Praise for settling in quickly
Splash-A-Thon to be held at Umina
Education department officials visit school
Staff win first round of volleyball tournament
Four well-being programs are offered
Science and technology program for indigenous girls
Umina boxers in Olympic qualifying round
Soccer club rejoins Premier League after 30 years
Social cup celebrates 40 years of touch football
Spirit beaten for minor premiership in narrow win
Surf club member to provide livestream coverage
Pirates win medals in country championships
Narrowly beaten for bronze
Surf club mourns loss of long-time member
Major Fours hotly contested

Future of Peninsula real estate given mixed assessment

Woy Woy Rotarians have been given a mixed assessment of the future of real estate and property development on the Peninsula when they were addressed by a Woy Woy real estate agent.

Wilson Real Estate partner Mr Ian Willis welcomed the recent multi-unit residential development approvals, but was less enthusiastic about the rise of granny flats, according to Rotary club publicity officer Mr Vic Deeble who reported the talk in the club newsletter.

Mr Willis said the rental market for granny flats was over-supplied and had moved away from the intention of providing affordable housing.

Granny flats were warping both the property and rental markets, according to Mr Deeble's report.

They had increased population density, leading to traffic congestion, parking difficulties and a change in demographics.

Mr Deeble said Mr Willis started his presentation by listing some developments currently in progress around the Peninsula.

"The first was the site in Ocean Beach Rd, that now has a service station approval to replace the one that was there in the past," said Mr Deeble.

"The next he mentioned was the site at the corner of Farnell Rd and Blackwall Rd that has approval for some 36 three-storey units and townhouses.

"Another he mentioned was in West St, Umina, on the corner of Oscar St, which has approval for 20 residential units with commercial space underneath.

"Another in Ocean View Rd in Ettalong has approval for 25 units with commercial space underneath.

"In addition, the Atlantis building was approved and built last year.

"So clearly there is a big demand for this type of accommodation in our local area," Mr Deeble said.

"Behind the Everglades Club on Hillview St there is construction taking place of an aged care, or seniors living facility of 160 rooms.

"There are significant environmental controls imposed on this development and as a result it may be almost invisible from the street with bushes and trees retained at the front.

"This is another type of construction where there is a considerable demand," he added.

Mr Wilis then spoke to the Rotarians about the rise of granny flats.

"Granny flats were in Ian's early view a good idea under the Affordable Housing Scheme.

"Now he is seeing them used as investment properties because the rents obtained make them a good investment opportunity.

"This application was not the one for which they were originally intended and the extra density of habitation can cause traffic congestion and parking issues.

"People are buying houses now to rent out the house and the granny flat.

"This is changing the demographics of the area.

"The ongoing development of the area is resulting in extra traffic and intersections are being upgraded, such as the one at the junction of McMasters and Blackwall Rd, which is being changed to a divided road with restricted turning directions.

"Average prices are increasing due to demand and in the Woy Woy area the average price of a house is in the order of $595,000 and for units is just over $500,000.

"In Umina the corresponding figures are $650,000 and $550,000.

"For upmarket apartments people are paying upwards of $1M and these may not be waterfront," Mr Deeble said.

"Demographics have changed over Ian's time in real estate.

"When he started, units were being sold to retirement couples but today there are a large number of sales to young couples who are unable to afford buying in Sydney.

"Ian forecasts that development will continue with three-storey properties becoming more common in close proximity to the town centres.

"What has happened in Gosford over the past few years is now overflowing onto the Peninsula.

"The property cycle peaked in 2017 and then fell until the election last year but has been slowly recovering since then.

"People were very cautious about property purchase before the election, but since last May about two thirds of the fall has been recovered.

"People are attracted to the Peninsula area by the convenience of the train station for access to Sydney, for what's available for their money, plus the shops and of course the local environment.

"Jobs are another factor that has resulted from the movement of government departments to Gosford and the development of the teaching hospital.

"Questions were asked about the burnt-out shopping mall in Ocean Beach Rd and the development of the Woy Woy Town Centre."

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