Why Tin Can Bay is not just a sleepy fishing village

WHAT was once a sleepy fishing village nestled in the heart of the Cooloola Coast, is shaping to become one of Queensland's real estate hot spots

Looking down on Norman Point with Snapper Creek and the Tin Can Inlet on each side.Photo Craig Warhurst / Gympie Times. Picture: Craig Warhurst

WHAT was once a sleepy fishing village nestled in the heart of the Cooloola Coast, is shaping to become one of Queensland's real estate hot spots.

If the figures are any indication, the property market in Tin Can Bay is on the rise.

The median house price is sitting at $323,750 (well above Gympie's average), while the market has expanded 6.9% over the past 12 months.

Century 21 agent Paul Downman suggests the town of 1994 people is on the verge of doing something special.

"The market out here is really healthy,” Mr Downman said.

"We are attracting a wide range of buyers from both the north and south.

"Tin Can Bay is really the cheapest place on the water on the east coast of Australia,” he said.

Mr Downman said there was versatility in the market, with both home occupiers and investors taking advantage of the relatively cheap waterside lifestyle.

While enjoying a steady increase, Mr Downman believes a real "boom” is not far away.

"It could be five years, it could be 10, but the prices will go up once the land is all sold because there will not be any more,” he said.

"Prices will sky-rocket.

"You can't build more than two stories here so we will not end up being like another Noosa.

"It will get to the point where people will be knocking down houses that are 15 years old to build brand new, better ones,” he said.

In terms of demographics, Tin Can Bay still maintains its tag as a retiree's haven.

Mr Downman predicts more than 60% of the market are people who are no longer in the work force.

People who can take advantage of almost any recreational activity you can think of.

Tin Can Bay boasts a yacht club, golf club and bowls club as well as an RSL.

There are a string of super-hip cafes and restaurants that are comparable to anywhere on the Sunshine Coast.

"If you want to get involved there is something here for everyone,” Mr Downman said.

"The area obviously has fantastic fishing and crabbing.

"Most houses have sheds on them for boats and caravans.

"There are buses that go to Gympie every day.

"You can really do whatever you want here.

"There are no traffic lights, no roundabouts and really no stresses here, at all,” Mr Downman said.

The growing market is also proving a hit with investors.

The average rental return is about $225 per week.

Houses are looking at a 4.7% increase in rental yield while units in Tin Can Bay are higher at 5.5%.