Retirees push up prices
Coastal paradise Woodgate leading the region for median house values
REAL ESTATE in Woodgate is producing the highest median values in the entire Bundaberg region.
Statistics by RP Data show the median value for property at Woodgate sits just under half-a-million dollars.
First National Real Estate Woodgate agent Patrick Cocking said esplanade properties had been the main focus of buyers in recent times.
“Which is probably leading to a fairly high median price,” Mr Cocking said.
But he said the majority of interest in Woodgate was not coming from investors but rather retirees looking to settle down in the region, mostly from mining areas around the Surat Basin.
“The majority of people now are coming west – Chinchilla and Miles, places like that,” Mr Cocking said.
“They’re not necessarily cashed up, but have done reasonably well with the mining boom in that particular area.
“And they’re coming to the beach and getting what they missed out on for many years.”
Mr Cocking said Woodgate missed the feedback from the Gladstone boom as people sold up and bought into Bundaberg over Woodgate.
“Now we’re getting the Surat Basin buyers coming into Woodgate beach – that’s more our focus area at the moment,” he said.
Ray White Woodgate co-owner Dan Hunt agreed and said he was noticing a lot of oceanfront sales.
Mr Hunt said Woodgate was separated into two areas and said the established, higher priced area had been showing the most sales in the past three to four months.
He said Woodgate land and properties had always shown higher median prices as it was a small market with little room to grow due to its surrounds being national parks.
“We can’t build out too much, so it’s always been a select marketplace,” Mr Hunt said.
Mr Cocking said the fact all Woodgate properties were only a 10-minute walk to the beach also increased the prices of houses in the region.
“Everything is stretched along the bay rather than going inland,” he said.
He said the lack of infrastructure in Woodgate also created a laidback lifestyle that was an attraction for some.
“It is still fairly simple living here, which is nice. It is the old Noosa. It’s what Noosa was before it became the place that it is today,” Mr Cocking said.
BIG JUMP: Real estate agent Patrick Cocking at 34 Theodolite Creek Rd, Woodgate, which is selling for more than $2 million.