It is turn into well-known for its hip, beachside life-style, movie star recognizing and sky-high property costs, and for a lot of, proudly owning a house in Byron Bay has turn into out of attain.
After hitting a peak of greater than $3.2m throughout the pandemic, Byron Bay’s median home worth has retreated to $2.4 million over the 12 months to October 2023.
However there are many beachside suburbs providing an analogous life-style for a fraction of the worth.
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Eden is probably the most southerly city in NSW, house to the biggest fishing port within the state. Image: Getty
We have spoken to a number of property specialists across the nation to disclose the place a house by the ocean remains to be inexpensive.
Eden, Sapphire Coast, NSW
As A-list celebrities like Chris and Liam Hemsworth, Zac Efron and Matt Damon have been flocking to Byron Bay within the north, hospitality entrepreneur Justin Hemmes of Merivale was betting on the way forward for NSW’s far south – particularly the Sapphire Coast – the place he is snapped up a number of pubs and eateries in sleepy Narooma.
However journey slightly additional south and you will attain the aptly-named, Eden, with a median home worth of $710,000 in line with PropTrack – a 3rd of the worth of Byron Bay and cheaper than close by Narooma ($895,000).
Every spring, 1000’s of humpbacks go to Eden on their approach house to Antarctica. Image: realestate.com.au
“It presents browsing, bushwalking, hinterland, seashores, unimaginable meals — particularly the native seafood — and a very relaxed ambiance,” mentioned property agent, Alex Haddad.
With postcard-perfect seems, the third deepest pure harbour within the southern hemisphere, and a place halfway between Melbourne and Sydney, it isn’t tough to see why the city was as soon as thought of as a website for Australia’s capital metropolis.
“At current a typical home is promoting for $700,000, nonetheless you may have acreages promoting for over $1.2 million,” Mr Haddad mentioned.
Postcard-worthy views are potential for a fraction of the worth of Byron Bay. Image: realestate.com.au
“As extra individuals with cash begin shopping for these acreage properties, it is going to drive up the median, and everybody will need their very personal ‘Eden.’”
Seaford, Frankston, Vic
Situated an hour and a bit southeast of Melbourne, the Mornington Peninsula has lengthy been a summer season playground for Melburnians.
As such, this vacation hotspot comes with a suitably giant price ticket. But, because the gateway to the Mornington Peninsula, Seaford presents properties inside steps of the sand for considerably much less.
“Although the key has began to get out, the world remains to be a far more inexpensive possibility than different Peninsula areas,” mentioned founding father of Melbourne purchaser’s company Business Insider Property, Andrew Date.
Seaford has a median home worth of $825,000 and a median unit worth of $610,000. Image: realestate.com.au
“And you should buy into A-grade pockets of this suburb for 10% lower than you can when charges have been at document lows.”
With a fantastically refurbished pier, stretches of white sand and crystal clear waters, Seaford is one in every of Port Phillip Bay’s hidden seashore gems.
Then there’s the traditional hallmarks of gentrification, from artisanal bakers and micro-breweries, to classic boutiques and impartial bookstores — this space has all of them.
“Seaford has a terrific sense of neighborhood with many sporting services and faculties, Plus the prepare line has additionally undergone a big redevelopment, serving to to enhance entry to the CBD.”
With prepare entry, Seaford is properly linked to Melbourne. It additionally has outlets, eating places and a grocery store. Image: realestate.com.au
“The median worth within the Mornington peaked at $1,350,000 firstly of 2022, whereas in Seaford the median is sort of half that with the common worth for a three-bedroom house at round $745,000,” Mr Date mentioned.
Fingal Head, Tweed Heads, NSW
Whereas Byron will get all of the fanfare, additional north — proper on the Queensland border — there’s a quiet vacation resort that provides the entire allure, however with out the sky-high property costs.
South of the bustle of the Gold Coast on a slender spit of land between the Tweed River estuary and the ocean lies Fingal Head.
“In my view, northern NSW is likely one of the finest saved secrets and techniques on the subject of a sea change,” mentioned Ray White Burleigh Group CEO, Tiger Malan.
Early explorers likened Fingal Bay to the UNESCO Large’s Causeway World Heritage Web site, fashioned by scorching lava flows which created large rock pillars as they reached the cool sea. Image: realestate.com.au
“Fingal Head is my cut price beachside suburb — one the place you may nonetheless purchase a home for a tick over a million {dollars}, and a unit for about $800,000.”
A standout attraction right here — and one inside viewing distance from a inexperienced turtle colony — is the Australian equal of Northern Eire’s famed World Heritage-listed Large’s Causeway.
“I’d take a stroll down a abandoned Fingal Head Seaside over one on a jam-packed Bondi Seaside any day of the week,” Mr White mentioned. “It’s gorgeous!
“Saying that, what you don’t get right here — and which is why it’s a lot cheaper — are life-style facilities, like main purchasing centres and high-end eating. However, Fingal shouldn’t be removed from the Gold Coast, so with a brief commute, you’re again within the thick of it.
Situated a ten minute drive from Tweed Heads and fewer than an hour to the Gold Coast. Image: realestate.com.au
“Finally, it boils all the way down to what you need in a sea change — in case you’re merely chasing sand between the toes, you may get your personal piece of paradise for a little bit of a steal.”
Penguin, Tas
Located alongside Bass Strait, and named after its inhabitants of the lovable fairy penguins that populate it, the quaint village of Penguin on Tasmania’s northwest coast presents wannabe sea-changers the potential to bag a cut price.
“Penguin stands as a well-kept secret, largely undiscovered by the plenty,” mentioned purchaser’s agent and founding father of Aus Property Professionals, Lloyd Edge.
Penguin had a median home worth of $520,000 over the 12 months to October 2023 in line with PropTrack. Image: realestate.com.au
With a median home worth of $520,000 in line with PropTrack, Mr Edge mentioned Penguin presents unimaginable affordability, notably for younger households.
This picturesque city presents a plethora of actions, from scenic strolling trails and breathtaking drives alongside the coast, to its weekly Sunday market — the biggest coated market within the state, the place greater than 200 stalls promote native meals, wine, crafts and items.
“Regardless of its myriad charms, phrase about this hidden treasure stays considerably off the radar,” continued Mr Edge.
“Thus stopping hovering property costs — however phrase is beginning to get out.”
Deception Bay, Moreton Bay, QLD
A coastal suburb within the Moreton Bay Area — roughly 32 kilometres north of Brisbane’s CBD — Deception Bay is on the up, in line with Brisbane and South East Queensland purchaser’s agent, Rodney Holder.
“Historically seen by many as a low socio space with its associated issues, Deception Bay is quickly gentrifying, however nonetheless presents waterfront property at comparatively inexpensive costs,” Mr Holder mentioned.
Deception Bay has a median home worth of $580,000 and a median unit worth of $390,000 in line with PropTrack. Image: realestate.com.au
The federal government is supporting inhabitants development with numerous infrastructure tasks, such because the transformation of the Deception Bay neighborhood facility and, given its proximity to the Queensland capital metropolis, extra funding is anticipated to observe.
“Present medium worth sits across the $580,000 mark,” Mr Holder mentioned.
“However I’m anticipating this to rise as we’re at the moment seeing a excessive purchaser to supply ratio and rents are additionally rising.”
Russell Island, QLD
Simply accessible from the mainland, solely 20 minutes by passenger ferry from Redland Bay, Russell Island — the biggest of the Southern Moreton Bay group of islands — is blessed with stunning views and wetlands that present a habitat for a variety of natural world.
Whereas these wetlands are stunning, they’re additionally a cause for property on the island being infinitely extra inexpensive, with a median home worth of $341,000 in line with PropTrack.
“The island developed a little bit of a foul status, particularly within the 70s and 80s, as loads of the land offered turned out to be swampy and just about ineffective,” Mr Haddad mentioned.
In the marketplace, this three-bedroom house has its personal non-public seashore and views of Stradbroke Island. Image: realestate.com.au
“Nevertheless, if you recognize what to look out for, sure areas of the island are a terrific place to purchase. In actual fact, Russell Island might be one of many least expensive beachside areas in Australia.
Elements of the island have been declared conservation areas and, over the subsequent few years, a sequence of strolling trails are deliberate. Plus, there are seashores for swimming and dishing, in addition to picnic and BBQ areas, alongside cafes and outlets together with a bakery, grocery store and storage, all of that are a brief stroll from the jetty.
“The island has all of the necessities and you may attain the mainland on the ferry in about quarter-hour,” Mr Haddad mentioned.
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“Plus, it’s a part of Redland Metropolis Council which is a part of the Brisbane metro space, so that you’re not removed from the town.”