AS YOU drive around Wooli, you could be forgiven for thinking the town is for sale.
In fact, of the 300 or so houses in Wooli, realestate.com.au has 60 listed for sale.
Bruce Bird is Wooli's postmaster and also the president of the Wooli's Chamber of Commerce and the Coastal Communities Protection Alliance - Wooli.
Mr Bird said it was not the first time the town had ended up with a lot of properties on the market.
"Wooli has always been a hotspot for property speculation and you get investors who want to turn over their property," Mr Bird said.
"Actually a lot of the people who live here think the erosion problem has been exaggerated."
Both Brooms Head and Wooli were identified as among the state's 15 worst erosion hotspots by the NSW State Government in 2011. But in Brooms Head there are just nine houses for sale.
The council's director of planning, Des Schroder, also said erosion was not likely to be the cause of the large number of listings.
Many Wooli homes were holiday places and the economic downturn meant many coastal towns were seeing a similar trend.