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.
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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
| 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
| 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.
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
| 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.