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Prospective buyers looking to purchase property by the water could snap up a bargain if they act now.
According to RP Data the global financial crisis, which has seen many highly geared individuals suffer, has resulted in heavy discounting and a sky-rocketing of listings in waterfront properties.
Cameron Kusher, RP Data senior research analyst, said cashed-up buyers looking to snare a bargain may now find many idyllic waterfront properties – particularly in regional coast areas – within their grasp.
RP Data has identified Port Pirie West in South Australia as the cheapest oceanfront suburb in the country where the median house price is just $140,000.
Not far behind is Victoria’s Loch Sport where the median house price is $149,250.
Cheapest waterfront suburbs (median price)
NSW: Corindi Beach (Mid-North Coast) $272,500, Sandy Beach (Mid-North coast) $279,500, Dalmeny (South Eastern) $280,000, Diamond Beach (Mid-North Coast) $282,000, Nambucca Heads (Mid-North Coast) $283,750
VIC: Loch Sport (East Gippsland) $149,250, Toora (Gippsland) $163,750, Golden Beach (East Gippsland) $165,000, Seaspray (East Gippsland) $185,000, Port Albert (Gippsland) $190,000
QLD: Halifax (Northern) $200,000, Rocky Point (Far North) $238,130, Burnett Heads (Wide Bay-Burnett) $271,500, Elliott Heads (Wide Bay-Burnett) $285,000, Cardwell (Far North) $290,000
SA: Port Pirie West (Northern) $140,000, Ceduna (Eyre) $164,250, Port Macdonnell (South East) $165,750, Clinton (Yorke and Lower North) $198,750, Cape Jervis (Outer Adelaide) $206,000
WA: Withers (South West) $270,000, Geraldton (Central) $339,000, Derby (Kimberley) $365,000, Sunset Beach (Central) $370,000, Mandurah (South West) $382,500
TAS: Beechford (Northern) $158,500, White Beach (Southern) $167,000, George Town (Northern) $167,750, Strahan (Mersey-Lyell) $187,500, East Devonport (Mersey-Lyell) $188,500
