If, like many Australians, you want to live near a beach but are not flush with cash, head to Adelaide in South Australia.
Research by real estate chain PRDnationwide shows can pick up a beach area property (three bedrooms/two bathrooms) for a median price of $477,050. The median price for a unit (two bedrooms/two bathrooms) is $272,975. It’s even less expensive in South Australia’s regional or country areas with the median price of a home coming in at $354,833.
The next best suburban option for beach lovers is Brisbane where the median price for a beach area home is $540,401. A unit will cost about $380,175.
City by city
PRDnationwide national research director Asti Mardiasmo says the average beach zone house and unit price varies significantly from capital city to capital city.
Sydney is the most expensive with an average price of $1,523,000 for houses and $859,000 for units, followed by Melbourne ($983,800 and $657,000 respectively), Perth ($876,000 and $537,000), Brisbane, including Sunshine Coast and Gold Coast, and Adelaide.
Dr Mardiasmo says the huge asking prices for beachside properties in Sydney and Melbourne have made Brisbane an attractive proposition for some.
“There is a beach lifestyle in South Australia but Queensland is better known for it,” Dr Mardiasmo says.
“Our figures show that someone could purchase three houses in southeast Queensland for the price of one house in Sydney. This explains why there are more and more Sydneysiders choosing to purchase close to the beach in Brisbane.”
Regions vs the city
The research director also points out that the average house price in regional beach areas does not vary as much as those in the cities.
“Victoria is the most expensive with an average house price of $545,000 and an average unit price of $302,000,’’ she says.
“Again, South Australia is the most affordable, with an average house price of $355,000 and an average unit price of $196,000.”
Dr Mardiasmo says when comparing capital city beachside suburbs to regional beach areas, it is notable that in New South Wales the average house price is three times more expensive in Sydney than in a regional area.
“In Melbourne and Perth, city beachside suburbs are nearly twice as expensive as in regional beach areas in Victoria and WA respectively,’’ she says.
“In Queensland and South Australian the price difference is not as large, with beachside houses in the capital city being only about a third more expensive than in regional beach areas.’’
Dr Mardiasmo says this price disparity between city and the bush explains why “more and more city folk are choosing to relocate to regional beach areas, not only for the cheaper housing but also because they are not compromising on their ocean views”.
“Furthermore the increasing level of infrastructure (road and rail) connecting regional areas with the central business district in capital cities makes the commute less cumbersome.’’
This story was brought to you by The New Daily using data and other information from its real estate content partner, realestateVIEW.com.au