Martin Blencowe watched from his balcony as a white Falcon and a ute raced through the winding street at about 7pm.

The Falcon spun out of control on a corner and hit the gutter.

The car came within 10 metres of resident Paul Cappa’s two children as they stood in their driveway.

It rebounded onto the other side of the road, almost hitting a tree, and crossed the bicycle path before returning to the road. Mr Cappa said his five-year-old daughter had been riding on the bicycle path shortly before.

“There were lots of people around,” he said. “It’s the main bike path so lots of people use it.’’

Mr Blencowe said his children, aged four and six, also regularly used the bike path. Although three of the tyres were blown, the driver continued down the road, where he left his car and got into the ute.

East Bowral residents stood guard over the abandoned vehicle until the police arrived.

Mr Blencowe and Mr Cappa hope that other residents and the Bowral Ratepayers Association will support a bid to have speed control measures installed in the street, which links Old South Road and Boardman Road.

The pair hope to meet with police and the Southern Highlands Business Chamber vandalism committee to discuss concerns about speeding in the street and lack of police in Bowral.