{"id":43003,"date":"2023-05-19T10:51:02","date_gmt":"2023-05-18T22:51:02","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=43003"},"modified":"2023-05-19T10:51:02","modified_gmt":"2023-05-18T22:51:02","slug":"bargains-with-a-view-the-best-beachside-suburbs-for-under-1-million","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/bargains-with-a-view-the-best-beachside-suburbs-for-under-1-million\/","title":{"rendered":"Bargains with a view: the best beachside suburbs for under $1 million"},"content":{"rendered":"

PHOTO: At a quarter the price of its Sydney namesake, Coogee in Perth offers a coastal lifestyle close to the city at a relatively affordable price.<\/strong><\/p>\n

REPUBLISHED WITH PERMISSION | API MAGAZINE<\/a><\/p>\n

Beachside property can be bought for less than a million dollars and here’s five areas identified as having the best potential for property investors seeking sea and affordability.<\/p>\n

\"\"<\/a><\/div>\n
\n
\n

Profile your business (for 12 months) \u2013 ONLY $499 INCL GST<\/a><\/h2>\n<\/header>\n<\/div>\n

For most property investors, the idea of living near the water just doesn\u2019t float financially.<\/p>\n

A\u00a0beach lifestyle invariably comes with a price increment\u00a0but there are capital city and regional locations close to the water that won\u2019t necessarily sink the budget.<\/p>\n

Buying in a beachside or bayside location will always attract a premium price but as the valuers say, they aren\u2019t making any more beaches.<\/p>\n

\"support\"<\/a><\/div>\n
\n
\n

Support independent Australian news aggregation<\/a><\/h2>\n<\/header>\n<\/div>\n

With that in mind, five locations have been identified as presenting the best investment prospects for buyers looking to have enough spare change from $1 million dollars to splash out on a new swimwear outfit.<\/p>\n

Top five affordable seaside locations<\/strong><\/h3>\n

1.\u00a0Wynnum and Manly (Brisbane)<\/strong><\/h2>\n

Wynnum\u00a0and\u00a0Manly\u00a0are located on the bayside, south of Brisbane, with easy access to the CBD and airport. Wynnum has a median house price of $965,000, while Manly Bayside\u2019s median tips over that slightly at $1,075,000.<\/p>\n

Both areas have great investment upside, as they offer a family friendly lifestyle and have a high demand for tenants. Investors can expect rental yields above 3 per cent in these suburbs and uplifting returns amidst the rental crisis.<\/p>\n

2.\u00a0Glenelg (Adelaide)<\/strong><\/h2>\n

Glenelg, a seaside suburb in Adelaide, has a buzzing nightlife with a plethora of trendy bars and restaurants and stunning waterfront sunsets.<\/p>\n

Investors can look to units, where the median price is $610,000 and expect a nifty rental return of 4.5 per cent. This market has also grown by 17.3 per cent over the past 12 months.<\/p>\n

\"Ricky<\/a><\/div>\n
\n
\n

Aussie cricket legend Ricky Ponting lists Brighton mansion<\/a><\/h2>\n<\/header>\n<\/div>\n

Glenelg is a popular suburb for all, and investors cannot go wrong here. Even though the median house price is a tick over $1 million, there are still some good free-standing house buys under $1 million for the astute investor willing to spend the time searching.<\/p>\n

\"Glenelg\"<\/p>\n

Glenelg\u2019s predominant age group is 60-69 years, but a younger cohort is now seeking out unit and other property investment options in the area.<\/strong><\/em><\/p>\n

3.\u00a0Bellambi and Fairy Meadow (Wollongong)<\/strong><\/h2>\n

Heading south of Sydney to the popular city of\u00a0Wollongong,\u00a0Bellambi\u00a0and\u00a0Fairy Meadow\u00a0are extremely popular beachside suburbs only 10 minutes from the CBD and university.<\/p>\n

These suburbs attract families looking for amenity, convenience and a coastal lifestyle on a budget.<\/p>\n

Bellambi, once an area lacking infrastructure and riddled with some undesirable pockets, has now become a sought-after location that has started gentrifying.<\/p>\n

With a median house price of $1,057,000 and unit price of $622,000, it should be on investor watchlists.<\/p>\n

Close by, Fairy Meadow also ticks over $1 million for houses but units attract a median of just $560,000, making it an easy entry point for investors looking for an eye-catching rental return outside of Sydney.<\/p>\n

4.\u00a0Coogee (Perth)<\/strong><\/h2>\n

Over in Western Australia, the seaside suburb of\u00a0Coogee\u00a0also had a bad rap in years gone by.<\/p>\n

Once known for light industry, cheap long-term caravan parks, and an unpleasant stench from the abattoirs, those days are gone and in its place are modern homes, new streets, upgraded beach facilities, and a marina, dive trail and nature reserve.<\/p>\n

With its proximity to Fremantle (around 10 to 15 minutes) and a half hour drive to the city, the area has a lot to offer, especially for investors looking to capitalise on the hot Perth market while remaining beachside.<\/p>\n

\"Indian<\/a><\/div>\n
\n
\n

A new nationality is snapping up Aussie homes<\/a><\/h2>\n<\/header>\n<\/div>\n

Coogee<\/a> has a median house price of $950,000 and an average rental yield of 3.9 per cent. The average yield is even higher for units at 5.6 per cent.<\/p>\n

5.\u00a0Warana (Sunshine Coast)<\/strong><\/h2>\n

Southeast Queensland\u2019s Sunshine Coast, sometimes overlooked as an area for investment, is another locality that should be on investor watchlists.<\/p>\n

In particular, the beachfront suburb of\u00a0Warana\u00a0is central to this coastline strip and only\u00a0a short journey to the canals and marinas with pubs, cafes and all the amenities a family could want.<\/p>\n

Investors won\u2019t be short of demand from tenants here and can expect yields just below 5 per cent in the unit market, with a median price of $580,000.<\/p>\n

\"Sunshine<\/p>\n

The Sunshine Coast real estate market is benefiting from growing international and interstate migration.<\/strong><\/em><\/p>\n

\n

MOST POPULAR IN NEW ZEALAND<\/span><\/h3>\n