Real estate to bloom in Wollongbar
WOLLONGBAR is the new real estate ‘hot spot’ on the Northern Rivers, and its population is expected to double during the next 10 years.
Three major developments for the land between Rifle Range and Sneaths roads have been approved by Ballina Shire Council.
The 83-lot Killarney Park subdivision is pending approval.
Blocks in the Avalon Estate are already on the market and selling quickly, even though no roads or infrastructure have been built yet.
Troy MacRae from Elders Alstonville said his firm had sold nine lots at Avalon in two weeks, with interest shown in another seven blocks.
“It’s taking off,” he said.
“We have been overwhelmed by the response.”
With the council securing interest-free loans to fund the link road and sewerage upgrades, construction work at Wollongbar will start this year.
Tony Riordan, director of Riordans Consulting Surveyors, the applicant for Killarney Park, said the infrastructure was desperately needed.
“The urban expansion area has been in the planning process for more than 10 years now,” he said.
“People have been waiting for this land to be released.
“There is a real shortage of good quality residential land on the plateau, and also in Lismore.”
Ballina Shire Councillor David Wright agreed it was good to see the Wollongbar urban expansion area moving ahead.
“This will deliver about 700-800 blocks – it will double the population of Wollongbar,” he said.
“Blocks of land are selling pretty quickly, so we need to get the infrastructure and the roads in place.
“I think Wollongbar will attract a lot of young families.
“There’s not much traffic and kids can play on the street – it’s safe.”
Cr Wright said increasing Wollongbar’s population would also have flow-on effects for nearby retail and industrial precincts.