Why Woodgate's wow factor's a winner in a tough market
WOODGATE'S property market is not just thriving in a tough market - it's leading the way.
The Real Estate Institute of Queensland's (REIQ) latest market report listed several locations where the property market had been challenged by factors including the resources downturn - Bundaberg being one of them.
But a quick check of real estate listings reveals homes in Woodgate appear to be selling for good prices, with million dollar price tags on many of the sleepy town's beachfront listings.
Woodgate property agent Patrick Cocking said real estate in the coastal community had come back from the global financial crisis even stronger than before it happened.
"We've ridden through the hard times," he said.
He said the market had been driven in part by retiring farmers and a new wave of southerners from big cities who figured they could get a better house and still have money in the bank if they made the move.
And the figures don't lie.
According to the REIQ, Woodgate has the second highest median property price in the region - even trumping crowd favourite Bargara.
With a median $392,500 price tag, Woodgate's homes are commanding a "very, very high" price according to REIQ Bundaberg zone chair Le-Anne Allen.
"Woodgate is certainly a destination of choice - it's a destination for those that want to live there," she said.
"It's probably from a lot of buyers relocating from inside the state and outside that state who want that sea change."
Mr Cocking said he believed the ability to live close to a regional centre like Bundaberg, but return to a quiet home was a massive factor in the town's popularity.
"It's far enough away but close enough to get some retail therapy - you just jump in the car and it's a half an hour down the road," he said.
"There's a lot of water activities you can do. If you can fish, it's a bonus."
Bundaberg Regional Council says a thoughtful approach to development had succeeded in making the region's coastal areas desirable.
"This development has ensured that our coastal areas maintain a natural, unspoiled appearance which is reflective of the high environmental importance council places on maintaining these pristine areas," a council spokesperson said.
"The Bundaberg region also offers a truly affordable, family friendly lifestyle with our beaches and a perfect sub-tropical climate being among our greatest assets in encouraging land purchase and population growth across the region."Median house prices Coral Cove $438,500 (however this figure is based off only one house sale in the past quarter) Woodgate $392,500 Bargara $382,250 Bundaberg $260,000