Sydney's cheapest coastal suburbs revealed
PropTrack research has revealed multiple coastal suburbs across Greater Sydney where median prices remain under $1 million - about $500,000 cheaper than the typical price of a house across the city as a whole - with some properties in these areas listed for well below that.
It comes as experts pointed to sales data showing July was peak beach house bargain-hunting season.
Part of the reason was that cold conditions meant beach living was rarely on people's minds, creating a seasonal dip in demand at just the time when a greater number of desperate sellers were putting their homes up for sale.
Ray White Group chief economist Nerida Conisbee said beach house hunters could get better deals and more favourable negotiation terms in winter.
'Selling in winter in a beachside location is generally not something people do,' she said.
'If they are selling, they are potentially a highly motivated seller and that's where you could get a bargain.
'While you'll have greater choices in summer, it's in winter that buyers will have a higher chance to save money.'
In the Greater Sydney area, PropTrack's data showed The Central Coast offered the most budget-friendly coastal homes, with all 10 of the cheapest locations to buy a house located in the region.
Budgewoi took top spot as the most affordable coastal suburb in Greater Sydney, with a median house sale price of $760,000.
Fellow Central Coast suburb Chittaway Bay, further south and on the shores of Tuggerah Lake, has a median house price of $880,000.
Nearby suburb The Entrance was the most affordable place to buy a beachside unit at a median sales price of $675,000.
Outside of the Central Coast, suburbs south of the Sydney CBD, such as Brighton-Le-Sands and Monterey made the list of the most affordable places to buy a beachside unit, with median prices of $800,000 and $900,000, respectively.
Back up the Central Coast, in Umina Beach, where house prices are typically $1.15m, residents John and Jenny Gavin said the cheaper prices were worth the longer commute into work each week.
'I travelled to Sydney for work, but I was normally at work in about an hour and 10 minutes,' he said, commenting on the location 80km north of the Sydney CBD.
The payoff was a location four minutes' from the beach, he said.
'Once you get back here on the weekend, it's all worth it,' Mr Gavin said. 'When the kids grew up here they all played with their friends at the beach. It was a good lifestyle.'
The couple's home, which they built for $300,000 14 years ago, is now up for sale with a price guide of $1.6 million to $1.7 million as they attempt to downsize.
Ray White Umina Beach sales associate Amy Sherrin said Central Coast homes offered beachside living at a fraction of the price of those closer to the city.
'It's very much a close-knit family location where everyone goes down to the beach with their dogs on the weekend,' she said.
'If you were down in Bondi, you'd be paying five times the price for the same kind of lifestyle.'
According to Ms Sherrin, buyer interest in the area comes from families making the move up north from the Northern Beaches and The Hills.
CHEAPEST BEACHSIDE SUBURBS (GREATER SYDNEY)
Houses:
Suburb Median sale price
Budgewoi $760,000
Noraville $870,000
Chittaway Bay $888,000
The Entrance $990,000
Empire Bay $1,108,000
Bateau Bay $1,150,000
Umina Beach $1,150,000
Ettalong Beach $1,240,000
Forresters Beach $1,430,000
Terrigal $1,583,000
Units:
Suburb Median sale price
The Entrance $675,000
Brighton-Le-Sands $800,000
Elizabeth Bay $850,000
Umina Beach $870,000
Monterey $900,000
Ettalong Beach $900,000
Dee Why $975,000
Cronulla $1,040,000
San Souci $1,085,000
Ramsgate Beach $1,100,000
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