No longer for the rich and famous.
The dream of living with the shore lapping at your front door is now a reality for everyday folk. As the worldwide pandemic continues many people are opting for a lifestyle change – and thanks to the many work from home options, it’s now totally possible.
This health crisis has accelerated interest in regional living – many seeking out a sea change or a tree change in more affordable locations with a record exodus from the capital cities around the country.
On many online listing sites, there’s been a huge shift in searches for properties – the beachside and lifestyle districts topping city searches ever since the pandemic hit.
And the sales volumes are following – with sales booming in these regions.
An analysis by realestate.com revealed where Australian homeowners still dreaming of a life by the sea can find their seaside sister suburb – a waterside location with a similar median house/unit sales price to their current suburb.
According to the analysis, a homeowner in Queensland’s largest inland city of Toowoomba where the median house price is $350,000, could get a taste of coastal life further north in Tin Can Bay or the Hervey Bay suburb of Eli Waters.
Those already living the beachside dream, but in a unit are also opening up to new opportunities. Home owners in Bondi Beach, where the median unit price is $1.1 million, can consider moving into beachside homes in locations Kurnell, Avoca Beach or the Central Coast – for the same price.
Beachside properties have been and always will be popular. In the past, it’s been the place to go when you retire or if you really hit the big time. Thanks to the new way of work, we’ve all hit the big time! You can have your career and your beach too!
Strangely, our household incomes have increased in a way over COVID – restricted spending has left many of us with more money in our pockets. This, along with Government stimulus packages and low borrowing costs has really pushed up beachside sales.
Another thing driving up the demand is our restricted travel opportunities. If you can’t go away for a holiday, you may as well live like you’re on holiday, right?
Australia’s most affordable beachside suburbs
You will of course pay a hefty price for beachside property in capital cities and major markets. But you don’t have to spend big bickies to get a beachside property if you move out of the capital cities.
It really then becomes a question as to how much you are prepared to sacrifice. You can move to a very rural area and get the beachside property but obviously you will be foregoing other things you may value – you may be further away from family and friends.
According to the realestate.com.au analysis, the most affordable seaside suburb in Australia to buy a house is in Port Augusta about 310km north of Adelaide, which has a median house price of $150,000.
There’s been increased confidence in Port Augusta on the back of projects, including a $500 million hybrid wind and solar farm, a bridge duplication and the $1 billion plan to overhaul Whyalla steelworks, which could benefit the region.
Investors are sniffing out opportunities here now with a recent buyer nabbing a home for 49k. There’s still plenty of homes on the market, but the below 100k option are starting to dry up. There’s also a shortage of rental properties in the market now, which may lead to people buying rather than renting…or may open up the rental market for investors.
After Port Augusta, the next most affordable beachside suburb is Georgetown in Tasmania at $210k median price and Forrest Beach in Queensland at $220k median price.
There is at least one seaside suburb with a median house price below $300,000 in most states, including Victoria where Portland is the cheapest beachside suburb with a $288,000 median. But coastal living is not as cheap in New South Wales, where the lowest is Nambucca Heads at $419,000.
Here’s the full list of the most affordable beachside suburbs across the country.
Hope this has got you thinking about some beachy living opportunities! Go live your best life.