Five waterfront homes for under $500,000

Waterfront homes have never been hotter, with the pandemic spurring city-dwellers to ditch their built-up, densely populated homes for quieter, calmer abodes by the sea.

Inevitably, this phenomenon has impacted the values of any property near a significant body of water, as demand outstrips supply at a rate not previously witnessed in the housing market.

There are seemingly innumerable examples of this situation occurring, with the most glaring example being Byron Bay’s unit prices over the past 12 months.

The formerly sleepy surf town in far north New South Wales has witnessed an explosion of new residents since the pandemic began, and all forms of homes have subsequently skyrocketed in price.

Most notably, units (nowhere near waterfront properties) in Byron Bay increased in value by 107.3 per cent over 2021, with the median price for a unit now sitting at an unbelievable $1,451,250.

Those still looking to make a move from a bustling CBD to a tranquil, coastal or waterside town shouldn’t stress too much, though, because there are still affordable waterfront homes out there.

Here are five H20-facing residences for less than $500,000:

132 Patterson Parade, Lucinda, QLD – $480,000

$455,000

132 Patterson Parade, Lucinda QLD 4850

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Described by Queensland.com as a “sleepy seaside hamlet”, Lucinda does appear to be very a chilled out place to call home.

Located roughly halfway between Townsville and Cairns and with a population of comfortably less than a couple of thousand people, the suburb does present as a sea change locale in the truest sense of the colloquial term.

Boasting four bedrooms, one bathroom and sitting on a generous 840-square-metre block, this home in Lucinda looks like a great option for those wanting to live metres from the ocean.

With an asking price of just $480,000, this property seems like very decent value… as long as you’re ok with humidity.

31 Olive Street, Burnie, TAS – $499,000

SOLD - $405,000

31 Olive Street, Burnie TAS 7320

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Looking directly onto the shimmering blue Bass Strait, this traditional two-storey brick home in Burnie, Tasmania, presents as an excellent option for those that like to gaze at the ocean in a brisker climate.

Unlike the myriad stereotypical beach towns that line Australia’s coastline with more temperate climates, Burnie bucks the trend, with an average summer temperature of just 22 degrees.

31 Olive Street features two bedrooms, one bathroom and a decent 584-square-metre block.

Although currently sporting its original interior, dated kitchen, bathroom and all, this charmingly antiquated home would be a brilliant blank canvas for someone to leave their mark on.

3A Green Court, Eagle Point, VIC – $399,000

SOLD - $395,000

3A. Green Court, Eagle Point VIC 3878

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Located just one town over from the boating capital of Victoria, Paynesville, Eagle Point is situated roughly 290 kilometres east of Melbourne in the bucolic Gippsland countryside.

Although in need of some serious TLC, 3A Green Court more than makes up for its tired interior and exterior with its proximity to the arresting waters of Eagle Point Bay.

With two bedrooms, one bathroom and a decent-sized 444-square-metre block, there’s plenty of potential for this humble cottage to be transformed into an attractive beachside home.

2/26 North Point Avenue, Port Lincoln, SA – $399,000

SOLD - $399,000

2/26 North Point Avenue, Port Lincoln SA 5606

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Boasting what are easily the best views of any home on this list, 2/26 North Point Avenue presents as an opportunity to own a home quite literally at the water’s edge for less than the price of a studio apartment in Toorak.

The two-bedroom, one-bathroom unit quite literally backs onto Lincoln Cove, with the backyard looking into the coastal suburb’s beautiful marina.

At $399,000, we’re not sure there are many other homes on sale in Australia today that offer a waterfront literality of this level.

1 Saltwater River Road, Premaydena, TAS – $495,000-plus 

SOLD - $365,000

1 Saltwater River Road, Premaydena TAS 7185

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Set on the southerly end of the Tasman Peninsula, this heritage-listed house in Premeydena may present the best sea change lifestyle of any home on this list.

Previously a general store, the property could provide new owners with a source of income, as well as a true one-of-a-kind view of Impression Bay, which is just metres away from the abode.

Although in need of some TLC, some recent maintenance on the two-bedroom, one-bathroom century-plus old home has been carried out.

Priced at $495,000-plus, there’s a lot to like about 1 Saltwater River Road.