Home Insights Beach holiday home hotspots where listings are up but competition is down

Beach holiday home hotspots where listings are up but competition is down

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Spring is here, summer is here and it won’t be long before all thoughts are spent on a relaxing weekend at sea.

For those with the means, this means investing in a beach house – this year could be easier than ever.

Blue waters of Wategos Beach in Byron Bay.Source: Getty

Throughout the pandemic, places like Victoria’s Mornington Peninsula, New South Wales’ Central Coast and Gold Coast were the ‘hottest’ beach towns in the country.

As a result of their popularity, real estate prices in these locations have skyrocketed. A beachside retreat in Byron Bay or Portsea can now cost around $3 million.

Most Expensive Beach Towns – Outside Major Cities

Source: PropTrack
Suburbs region median house price 12 months change
Portsea mornington peninsula $3.6 million twenty three%
sunshine beach sunshine coast $3.25 million 16%
Byron Bay Richmond – Tweed $3.15 million 13%
mermaid beach gold coast $2.8 million 38%
surfers’ Paradise gold coast $2,797,000 53%
Sorrento mornington peninsula $2.52 million 29%
berry Southern Highlands and Shoalhaven $2.31 million 75%
McMaster’s Beach central coast $2,225,000 40%
Alexandra Headland sunshine coast $2.18 million 61%

Demand for properties in these areas remains strong, but prices have peaked and are starting to fall.

At its peak, Byron Bay’s median home price rose 86% over the 12 months, and is now $1.85 million higher than in October 2019.

Never mind Portsea and Byron Bay’s $3 million+ price tag. There are still nearby beach suburbs that are more affordable and offer less competition for buyers than before.

cheapest seaside towns – outside the main cities

Source: PropTrack
Suburbs region median house price 12 months change
Wizards Bunbury $272,500 21.1%
Dundee Beach Northern Territory – Outback $278,500 35.9%
forest beach Townsville $285,000 14.0%
Kingston Se South Australia – South East $325,000 -0.8%
port broughton Barossa – York – Mid North $325,000 7.6%
Ardrossan Barossa – York – Mid North $325,000 12.7%
Usher bunbury $330,000 13.8%
Cardwell cairns $336,500 3.5%
Wallaroo Barossa – York – Mid North $337,000 24.8%

In fact, rising interest rates and slowing price growth are likely to reduce demand for beachside properties in the coming months.

Those looking for a weekend getaway have the chance to pick up some bargains.

Median home prices in Suffolk Park, just a stone’s throw from Byron Bay, are $1.98 million per home and $1.54 million per unit.

There are fewer potential buyers per listing than there were 12 months ago due to the slowing market.

And with 221% more active listings in Suffolk Park than last year, it may be easier to find a property than ever before.

The Mornington Peninsula has always been in the hearts of Melburnians for its pristine beaches, fine dining and proximity to town. Good news for buyers looking to buy ahead of summer, there may be some affordable options out there.

Over the past quarter, St. Andrews Beach saw a 34% drop in potential buyers per property, and the median home price is now $1.74 million, more than $1 million cheaper than nearby Portsea and Flinders. I’m here.

Recent sale at St Andrews Beach. Source: realestate.com.au/sold

The Illawarra region of New South Wales has also seen significant price increases over the past few years, with year-on-year house price increases across all major beach suburbs.

However, demand is declining in these areas, so beach house hunters may enter a less competitive market.

Fairy Meadow, Stanwell Park, and Bulli have all seen a decline in demand over the past year. Stanwell Park doesn’t have many properties for sale right now, but both Bulli and Fairymeadow each have 137% more active listings and he 95% more than this time last year.

view from 24 Point Street, yellowtail, is currently on sale. Source: realestate.com.au/buy

New South Wales and Victoria aren’t the only states where a decline in potential buyers offers a chance to get a beachside villa with less competition.

Coolangatta and Miami on the Gold Coast and Badina and Sunrise Beach on the Sunshine Coast have both seen a decline in the number of potential buyers per listing over the last 12 months.

Top beach suburbs with fewer potential buyers per listing

Source: PropTrack
Suburbs region state median house price Year-over-year change in potential buyers by listing
St Andrews Beach mornington peninsula Big $1,439,074 -40%
fairy meadow Illawarra New South Wales $1,161,413 -36%
Stanwell Park Illawarra New South Wales $2,150,335 -33%
Buddina sunshine coast queensland $1,518,595 -32%
Coolangatta gold coast queensland $1,543,152 -30%
Miami gold coast queensland $1,467,615 -29%
suffolk park Richmond – Tweed New South Wales $2,020,271 -29%

In Coolangatta, active listings are now up 94% from last year and median home prices are down 1.3% quarter-to-quarter to $1.54 million.

For those looking for real estate to enjoy a relaxed beachside lifestyle away from the city, today’s market is less competitive than last year and offers more choice.

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