Affordable beach houses: 107 coastal suburbs

New data shows over 100 thriving beach towns offer houses under $1 million.

Affordable beach houses: 107 coastal suburbs,

The median house price in 107 regional coastal suburbs was under $1 million, showing a growth of 5% or more.

This data, from PropTrack’s October 2024 analysis, highlighted a strong market performance across these beachside areas.

About a third of these suburbs had median house prices below $500,000, with some even under $300,000.

The majority of these suburbs were located in Queensland and Western Australia, each contributing 38 regions to the list.

While these states have the longest coastlines, REA Group economist Eleanor Creagh pointed out geography was not the sole factor.

She explained that regional Queensland and Western Australia markets had consistently shown impressive growth in recent years.

Additionally, lower-priced regions tended to see stronger growth due to rising demand for more affordable housing options.

Higher interest rates and mortgage costs pushed many buyers toward more affordable areas, further boosting price increases.

10 most affordable regional beach suburbs in Queensland.

Townsville, with five suburbs making the list, was the top-performing region nationwide in the past year, according to Ms. Creagh.

She attributed this success to factors like affordability, population growth, and job expansion in the area.

Belle Property agent Josie Howard confirmed these trends, noting firsthand experience with the market’s growth.

“The initial boom was driven by investors,” Ms. Howard said, “but now we see a mix of local buyers.”

She added that even people from Sydney and Melbourne are relocating, staying here and only traveling back once a month.

While the area has seen significant development, Ms. Howard mentioned that it still feels less built-up compared to places like Cairns.

“Nothing is more than 20 minutes away,” she explained, “and with swimmable beaches and no high-rises, it’s not overcrowded.”

The highest price growth at the suburb level occurred in Tarcoola Beach, a suburb of Geraldton in WA.

House prices in Tarcoola Beach surged by an impressive 50% in the 12 months leading up to October.

Despite this increase, the median house price in the suburb remained affordable at just $645,000.

Additionally, seven other suburbs in the greater Geraldton area also made the list of top performers.

Local agent Joel Winkly from The Agency highlighted that the region offered great value for buyers.

“Geraldton provides the best value for ocean-view property,” Mr. Winkly said, pointing out its affordability.

He added that buyers can still find an excellent beach-front home for just over or under $1 million.

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Top 10 regional beach suburbs in WA for price growth.

Despite having some of the highest median house prices in Australia, NSW still had eight suburbs with strong growth.

These suburbs were among the most affordable coastal areas with significant price increases, according to recent data.

Two of these suburbs, Yamba and Iluka, are located about an hour down the coast from Byron Bay.

Some experts have even referred to this area as “the next Byron,” due to its growing appeal.

Ms. Creagh pointed out that Byron Bay was not included because its median house price exceeded $1 million.

Byron Bay’s median unit price was $1.18 million in October 2024, while the median house price was even higher.

In fact, the median house price in Byron Bay was nearly three times that of the unit price, at $3.4 million.

NSW regional beach suburbs under $1 million

In the past year, Yamba and Iluka experienced significant increases in their median house prices, rising by 16.5% and 7.9%.

Yamba’s median price reached $990,000, while Iluka’s climbed to $820,000, partly due to recent developments in the area.

Richard Hunt, principal of First National Real Estate Yamba, explained that new builds and different property types contributed to these gains.

Meanwhile, South Australia boasted some of the most affordable coastal suburbs for buying a home.

Port Augusta, Ceduna, and Port Augusta West were the three least expensive on the list, with medians of $225,000, $272,500, and $280,500.

Ms. Creagh mentioned that regional South Australia, excluding the Northern Territory, offers the most affordable housing market in the country.

SA regional beach suburbs under $1 million

At the suburb level, Dundee Beach in the Northern Territory was the only hamlet on the list.

However, it was more expensive than the three affordable suburbs in South Australia, with a median of $290,000.

Ms. Creagh explained that while strong annual growth is one indicator of a good investment, other factors should also be considered.

“There are many factors and metrics to consider when choosing an investment that suits individual circumstances,” she said.

“For example, some people might focus on rental yields, while others may look at vacancy rates or tenant turnover.”

Other considerations include potential expenses like property maintenance costs, taxes, and financing, all of which can influence investment decisions.

In Victoria, only three suburbs made the list, while Tasmania had four suburbs that met the criteria.

Full list of regional beach ‘burbs under $1 million