Australia’s cheapest oceanfront suburbs

The performance of coastal markets during 2010 has been extremely diverse and in many instances has mirrored the performance of relevant capital city market. In Queensland and Western Australia in particular, capital city markets have struggled and so too have coastal markets within these states. On the other hand, stronger performing capital cities such as Melbourne and Sydney have resulted in a superior coastal market performance within New South Wales and Victoria.

Despite the varied conditions throughout the country there are a number of suburbs adjacent to the ocean which still have an affordable median house prices.

Across the country, the most affordable suburb adjacent to the ocean is Rocky Cape in Tasmania. The suburb recorded 10 house sales over the year to October with a median price of $85,000.

At the other end of the spectrum, the most expensive oceanfront suburb in the country is Vaucluse in Sydney, with a median house price of $3.3 million. The pricing differential between the most affordable and most expensive oceanfront housing markets highlights the vast difference in house prices along the Australian coastline.

The lists detailed only include those suburbs which sit adjacent to the oceanfront, it doesn’t necessarily mean true oceanfront properties will be available. The analysis also only includes those suburbs with at least 10 sales over the past 12 months.

New South Wales

Stuarts Point is the most affordable oceanfront suburbs in the state, as it was last year. Three of the five suburbs listed are located in the Illawarra Region and all five have a median price below $290,000.

Victoria

Golden Beach in the East Gippsland Region is the state’s most affordable oceanfront suburb, taking over from Loch Sport which was the most affordable at the same time last year. All five of the suburbs detailed have a median house price which is below $225,000.

Queensland

The Moreton Bay island of Russell Island is Qld’s most affordable oceanfront suburb with a median house price of $222,500. All five suburbs listed have a median price below $290,000.

South Australia

Highlighting the relative affordability of SA property, all of the five most affordable oceanfront suburbs have a median price below $200,000. Port Wakefield near the tip of Gulf St Vincent is the states most affordable oceanfront suburb.

Western Australia

The most affordable oceanfront suburb in WA (Withers – $257,000) is more expensive than all of the detailed oceanfront suburbs in Vic, SA and Tas. Three of the five most affordable suburbs are located in the South West region of the state.

Tasmania

As previously mentioned, Rock Cape is Australia’s most affordable oceanfront suburb with a median price of $85,000.

Northern Territory

Only five waterfront suburbs across the NT recorded enough sales to calculate a reliable median price, Wagait Beach was the most affordable with a median price of $230,000.

Tim Lawless is the Director of Property Research at RP Data.