Cheapest Waterfront Properties

You don't have to be a millionaire to have a million dollar view.

If you are dreaming of buying a new home but don't think you could afford luxury waterfront views, think again! With this list of affordable waterfront homes you could be the envy of all your neighbours, without breaking the bank.

Although top-end waterfront properties have had their struggles during 2008, when you look to the regions,affordable properties in some locations can still be found.

Right now the cheapest oceanfront suburb in which to purchase a house is in Port Pirie West in South Australia where the house price is $140,000. In contrast, the most expensive seaside suburb is Tamarama in Sydney which currently holds a house price of $4.4 million.

Cashed up buyers looking to snare a bargain will now find many properties offering idyllic waterfront properties and land right now, particularly in regional coastal areas.

New South Wales
Across NSW the most affordable regional oceanfront suburb is Corindi Beach, approximately 29km north of Coffs Harbour with a current house price of $272,500. Interestingly four of the five most affordable locations detailed in NSW are found on the Mid-North Coast. Just like the better established and more expensive oceanfront areas, most of the suburbs have recorded a long average time on the market.

Victoria
All of the most affordable oceanfront locations in Victoria are found in Gippsland or East Gippsland. Loch Sport which is situated approximately 45 kilometres east of Sale is Victoria's most affordable regional oceanfront location with a house price of $149,250. Interestingly, some of the areas listed have recorded exceptional growth during the last 12 months however, Port Albert has seen substantial price falls.

Queensland
Halifax which is located approximately 15km from Ingham and 100km north of Townsville is Queensland's most affordable oceanfront location with a house price of just $200,000. Unsurprisingly, all of the most affordable areas are outside of South-East Queensland, with 3 of the 5 having recorded increases in prices during the last 12 months.

South Australia
Across the state and the country, the resource area of Port Pirie West within the Port Pirie township, is the most affordable oceanfront location with a house price of $140,000. All regions detailed have witnessed a relatively long average time on market and price growth results have been varied, falling by as much as 21.1% and increasing by as much as 14.5%.

Western Australia
Prices within oceanfront suburbs tend to be much higher in WA than all other states, with the most affordable suburb Withers, located within Bunbury City, having the most affordable price tag at $270,000. Interestingly, most of the WA suburbs detailed have recorded positive growth or only slight falls which is a little surprising given that most areas of WA have recorded price falls through 2008.

Tasmania
Tasmania has some very affordable oceanfront locations with all of the five most affordable having a price below $200,000. Beechford on the northern coast of Tasmania approximately 48km north of Launceston has the state's most affordable oceanfront price at $158,500.

Summary:

All currencies are in Australian dollars.