Byron Bay, a magnet for celebrities and high flyers, has long been one of Australia’s top coastal destinations, boasting a median house price of $3.05 million after an 11% increase this year.
However, new data from PropTrack has identified 95 regional beachside suburbs whose house prices have surged at a similar or faster rate, challenging Byron’s dominance.
Angus Moore (pictured above), PropTrack’s senior economist, highlighted the appeal of waterfront homes.
“Waterfront homes and homes near the water are highly sought after and it can tend to make them a bit more expensive in general,” Moore said.
The allure of coastal living, parks, and water access remains a strong draw for buyers across the country.
Western Australia’s Port Denison saw the highest growth, with median house prices up 47% to $495,000. Known for its beaches and fishing spots, this town, 350 km north of Perth, has grown in popularity since the pandemic.
“A lot of people that moved out of the city moved rurally and that started off the change in house prices,” Real estate agent Vaughan Louwrens said.
Other significant price increases were seen in Binningup (up 39%) and South Bunbury (up 31%), both in WA.
In Queensland, South Townsville and Agnes Water saw median house prices jump 37%, showcasing the growing appeal of these coastal gems.
While sandy shores are still popular, waterfront suburbs with canal systems, like Minyama on the Sunshine Coast, are also in high demand. Although not on the beach, Minyama saw its house prices climb 57% to $2.1475m, thanks to its canal-front properties.
Byron Bay, long synonymous with luxury coastal living, has seen a shift in its market dynamics.
“Over the past five years, we saw a lot of those lifestyle regions perform very strongly... but it’s no longer those ‘pie in the sky’ sorts of prices,” Moore said.
Buyers now see value at current market levels, and vendors are more willing to negotiate, signaling a new era for this iconic location.
Get the hottest and freshest mortgage news delivered right into your inbox. Subscribe now to our FREE daily newsletter.
