Forget Byron Bay, these coastal hotspots are tipped to boom in 2024
Property experts have handpicked the best coastal suburbs in Australia for 2024, offering a mix of good growth prospects, amenities and infrastructure.
Forget Byron Bay, these coastal hotspots are tipped to boom in 2024.
Property experts have handpicked the best coastal suburbs in Australia for 2024, offering a mix of good growth prospects, amenities and infrastructure.
The realestate.com.au “Hot 100” - compiled by a panel of industry professionals – includes more than 30 coastal, beach or harbourside suburbs from across the country offering the best real estate prospects in 2024 and beyond.
The top coastal suburbs from the Hot 100
Reviewing the list, PropTrack economist Anne Flaherty noted many suburbs on the list were still relatively affordable.
“They're not necessarily that premium beachside suburb but there are pockets where more people would be able to afford to buy a home,” she said.
“I think at the end of the day, coastal suburbs will always be attractive to people looking to buy and also to rent.
“We know that properties close to the water sell for a premium and buyers are definitely willing to pay extra to be close to the water, and in the same boat, tenants as well are willing to pay higher rates of rent in order to live in these locations.”
Coastal locations on the realestate.com.au Hot 100 for 2024
|
Suburb |
State |
Median house price (2023) |
12 month change |
Price 5 years ago |
5 year change |
|
Burnie |
TAS |
$440,000 |
-2.8% |
$305,000 |
44.3% |
|
Rokeby |
TAS |
$586,000 |
2.1% |
$290,500 |
101.7% |
|
Kingston |
TAS |
$726,000 |
-9.3% |
$475,500 |
52.7% |
|
Devonport |
TAS |
$455,000 |
-3.0% |
260,000 |
75.0% |
|
Mandurah |
WA |
$399,000 |
14.0% |
$259,500 |
53.8% |
|
Busselton |
WA |
$736,000 |
16.8% |
$445,000 |
65.4% |
|
Geraldton |
WA |
$330,000 |
0.2% |
$243,000 |
35.8% |
|
Quinns Rocks |
WA |
$643,000 |
10.9% |
$430,000 |
49.5% |
|
Rockingham |
WA |
$519,250 |
9.0% |
$380,000 |
36.6% |
|
Fremantle |
WA |
$1,120,000 |
8.7% |
$805,000 |
39.1% |
|
Townsville City |
QLD |
$380,000 (Units) |
5.5% |
$305,000 |
24.6% |
|
Cairns City |
QLD |
$545,000 (Units) |
29.9% |
$421,500 |
29.3% |
|
Brighton |
QLD |
$830,000 |
-7.3% |
$542,500 |
53.0% |
|
Southport |
QLD |
$920,000 |
0.5% |
$575,000 |
60.0% |
|
Yeppoon |
QLD |
$600,000 |
5.6% |
$350,000 |
71.4% |
|
Gladstone |
QLD |
$334,000 |
7.7% |
$198,000 |
68.7% |
|
Cleveland |
QLD |
$957,000 |
8.4% |
$650,000 |
47.2% |
|
Ettalong Beach |
NSW |
$1,075,000 |
-13.1% |
$805,000 |
33.5% |
|
Elizabeth Bay |
NSW |
N/A |
N/A |
N/A |
N/A |
|
Dee Why |
NSW |
$2,400,000 |
-7.3% |
$1,585,500 |
51.4% |
|
Avalon Beach |
NSW |
$2,800,000 |
-3.9% |
$1,810,000 |
54.7% |
|
Northbridge |
NSW |
$4,700,000 |
0.8% |
$3,320,000 |
41.6% |
|
Mosman |
NSW |
$5,130,000 |
6.3% |
$3,782,500 |
35.6% |
|
Altona Meadows |
VIC |
$725,000 |
-2.7% |
$638,000 |
13.6% |
|
Mentone |
VIC |
$1,305,000 |
-10.0% |
$1,064,500 |
22.6% |
|
Carrum |
VIC |
$870,000 |
-5.4% |
$850,000 |
2.4% |
|
Rippleside |
VIC |
$1,050,000 |
-11.8% |
$775,000 |
35.5% |
|
Victor Harbor |
SA |
$659,500 |
26.8% |
$352,000 |
87.4% |
|
Port Noarlunga |
SA |
$690,000 |
10.8% |
$422,500 |
63.3% |
|
Seaford |
SA |
$640,000 |
5.8% |
$387,250 |
65.3% |
|
Hallett Cove |
SA |
$757,000 |
8.0% |
$470,000 |
61.1% |
|
West Lakes Shore |
SA |
$970,000 |
4.2% |
$610,000 |
59.0% |
|
Ardrossan |
SA |
$360,000 |
11.6% |
$265,000 |
35.8% |
|
Whyalla |
SA |
$335,000 |
6.3% |
$240,000 |
39.6% |
|
Darwin City |
NT |
$422,500 (Units) |
-12.7% |
N/A |
N/A |
Source: PropTrack, realestate.com.au Hot 100 | Where there are few houses in CBD areas, unit data has been used as indicated. Where there is not enough sales activity for accurate price estimate N/A has been used.
While the pandemic saw buyer demand for coastal and water locations increase, Ms Flaherty said with people spending more time at home via hybrid jobs, this demand has remained elevated.
“People are looking for that balance and they're looking for that access to nature and COVID also reset a lot of how people think they want to live their life,” she said.
Here's what the experts had to say about some of their top coastal picks on the list.
Queensland
The top QLD suburbs in the Hot 100
Brighton
Situated adjacent to Brisbane's Moreton Bay, Brighton is a cheaper coastal alternative than its neighbouring suburbs, according to University of Adelaide property academic Peter Koulizos.
This tightly held suburb, is being recognised by empty nesters for its lifestyle offerings, proximity to the train line and beach he added.
Picture: realestate.com.au
Local agent Kristy Kelly from Image Property Brisbane Northside, said the number of days on market for properties in this area has been driven down by competition.
“It's a tightly held suburb too and there is not a lot of opportunity to buy here so when an opportunity is created it’s why the demand is so high," Ms Kelly said.
In the few days Ms Kelly has returned to work for 2024, she said she's already sold four Brighton homes.
New South Wales
Elizabeth Bay
With its array of apartments with Sydney Harbour views, ultra-exclusive Elizabeth Bay is buyer's advocate and Propertybuyer’s Chief Executive Rich Harvey’s pick for its strong investment prospects.
“You are a skip away from Potts Point and it has that sort of inner city vibe, and you're a stone's throw from Double Bay and then Rose Bay, the more prestigious areas and suburbs,” he said.
Picture: realestate.com.au
Samuel Schumann from Raine & Horne Unlimited Potts Point, said while the suburb’s high-end market was “going absolutely gangbusters,” the investor market in the $500,000 to $600,000 range was also strong.
“Even though it’s a small suburb it attracts a wide market, and we are just seeing it go from strength to strength,” he said.
Victoria
Altona Meadows
Offering value for money and good proximity to the city are among the reasons why Altona Meadows in Melbourne’s west made buyer's agent Cate Bakos’ realestate.com.au Hot 100 list.
“From a current price point for anyone with a price restriction in their budget, proximity to the city and what you get for your money is pretty unbeatable,” she said.
Picture: realestate.com.au
“I just don't think the prices will stay where they are for very long because a lot of people are discovering it.”
Located 21kms south west of the Melbourne CBD, beachside Mentone was another hot pick, with Ms Bakos describing it as an underrated, beautiful suburb on the beach.
“It's got a bustling little shopping village, it’s got easy train access and it's got some really good private schools too,” she said.
South Australia
Seaford
Location and affordability were the factors behind Mr Koulizos choosing Seaford as his Hot 100 pick.
Originally developed in the 1970s, Seaford was once not considered as attractive as its neighbouring suburbs with their beach shacks and holiday feel, Mr Koulizos said.
Picture: realestate.com.au
However, now that Port Noarlunga South, Port Noarlunga and Noarlunga have become so expensive, he noted buyers are willing to live in a 1970s Seaford home to be by the beach.
With a median house price of around $640,000, the area is attracting younger homebuyers.
“It's not uncommon, especially over the last three years, during and since COVID, that you advertise [a home] on realestate.com.au during the week, you have your open on the weekend and on Monday, you've got offers,” he said.
Western Australia
Busselton
The popular south west holiday town of Busselton, located some two and a half hours from Perth, was selected by Propertyology's head of research Simon Pressley for its amenity, investment prospects and location.
He said during the last three years, and broadly across the last two decades, Busselton’s property market has outperformed Perth.
Picture: realestate.com.au
Tommy McNeil, property partner at The Agency South West, said the area has attracted strong east coast investor interest, with many buying homes by viewing them via FaceTime or by inspecting house plans only.
Offering value for money and a laid-back lifestyle, Mr McNeil said many FIFO operators buy and live in the area, even renting their homes out while they're away.
Tasmania
Burnie
Solid investment prospects and affordability are behind Mr Pressley's decision to nominate the port city of Burnie.
The second largest city on Tasmania’s north coast after Devonport, Burnie is set to become a hotspot for major renewable energy projects, especially for wind farms, he said.
“Legendary local business, Elphinstone, will progressively expand its workforce by several hundred to support two separate defence force contracts to manufacture components for Land 400 military vehicles and infantry fighting vehicles,” he said.
Picture: realestate.com.au
Andrew de Bomford, property consultant at Harcourts, has been selling property in Burnie for 23 years, and said the suburb boasts nice boardwalks, a progressive local council, good schools and infrastructure.
“I sell a lot of land…there has been a boom in the building,” he said.
“Burnie has a lot of ex-commission places and that tends to be your traditional type of investment properties, your standard three-bedroom, one bathroom, that have all been privately owned they have turned into reasonable areas,” he said.
This article was originally published on realestate.com.au ‘Forget Byron Bay, these coastal hotspots are tipped to boom in 2024’
