What happened to the beach bargains of five years ago – and what they’re worth today

Before the pandemic hit, affordable holiday homes near a beach were a dime a dozen, with opportunities under $500,000 aplenty in quiet seaside towns, and even in iconic areas like Surfers Paradise. 

Now those beach bargains are few and far between. Yesteryear’s bargain areas have skyrocketed in price and lost their inexpensive status, meaning the supply of affordable holiday homes close to a beach location has slimmed considerably.

Five years ago, the median price of an apartment in Surfers Paradise was $382,000. Now  it’s $615,000.

SOLD - $530,000

24/26 Monaco Street, Surfers Paradise QLD 4217

2

2

1

View property

Agent Adam Sadler of LJ Hooker Property Hub says apartments in Surfers Paradise are flying out the door, citing his recent sale of two units that had been listed for less than 24 hours. 

He says it’s possible to find a beachside unit for under $500,000, but it’s likely to be a small one-bedroom.

SOLD - $500,000

15/12 Paradise Island, Surfers Paradise QLD 4217

1

1

1

View property

Once considered a secret beachside bargain, Bramston Beach, about an hour south of Cairns in Tropical North Queensland, has recorded strong price growth as city dwellers and interstate investors buy up limited supply. 

“[Bramston Beach is] definitely not the sleepy, inexpensive beachside town that it was,” says local agent Robyn Hawley-Whitton of Cairns Property Office City.

“The whole region has gone up substantially, maybe $150,000 to $230,000, depending on where you purchased, but that includes during the pandemic.

“Bramston Beach itself is like everywhere; there is hardly anything on the market, so there is incredible pressure, and this is driving prices up.”

Hawley-Whitton says a house she sold five years ago for about $380,000 recently sold for $700,000 after undergoing renovations.

SOLD - $440,000

41 Evans Road, Bramston Beach QLD 4871

3

2

2

View property

This story isn’t unique to Bramston Beach. Prices have also increased in the quiet seaside town of Stuarts Point, about five hours north of Sydney, and local agent Adam Shore of Elders Real Estate Kempsey says there are no signs of prices slowing down. 

“We’ve just sold one which, honestly, is the typically quintessential beach shack … it went for $550,000,” he says. “Five years ago, it would have gone for a lot less, probably around the $300,000 mark.”

However, Shore says Stuarts Point is more affordable than neighbouring beach towns like Scotts Head and South West Rocks, making it attractive to retirees, holiday-home buyers and young families. 

SOLD - $575,000

18 Ocean Avenue, Stuarts Point NSW 2441

2

1

1

View property

In Victoria, many people fled from the metro areas for a sea and tree change to escape the lockdowns. 

Seaspray, just two-and-a-half hours from Melbourne, saw an avalanche of buyers, which led to prices being pushed up, says local agent Greg Tuckett of Elders Real Estate.

SOLD - $378,000

77 Main Road, Seaspray VIC 3851

2

1

9

View property

“But it was going to happen anyway, regardless of COVID. Mainly because it comes down to one word: affordability. As simple as that,” he says.

“The flow-on effect from the COVID boom has abated, and prices have stabilised.”

The median house price is currently $413,000, up from a meagre $175,000 in 2018. 

Despite the massive uptick, Tuckett says it’s still possible to find houses way below the median price for those searching for a sea change, citing a recent sale of $233,000 in the township. 

“It’s a good little affordable place on the open ocean,” he says.

$980,000

Seaspray VIC 3851

4

2

-

View property