According to the latest property data from the Domain Group, the goal of being able to purchase a weekend property close to the beach within a three-hour drive of Sydney is more achievable than you might think.
Attractive and affordable properties include a three-bedroom house with a new kitchen and bathroom for $349,000, and another house with three bedrooms and an in-ground pool for $365,000 (this is about a third of the average cost of a much smaller home in Sydney).
Both homes can be found in the little village of Nabiac on the Mid North Coast, just a short drive from Sydney, south of Taree and north-west of Forster.
“A lot of people would probably drive through without noticing it, although a lot of them find out about us afterwards when they’re issued with a speeding ticket from our very efficient traffic police,” said Don Good, a local real estate agent.
“But it’s a wonderful place for a weekender, and we’re getting more and more Sydneysiders coming up here to buy property. I used to live on the Northern Beaches of Sydney, I came up here 19 years ago, and I’m never going back.”
The median price of Nabiac is only $354,500, the lowest of any town within striking distance of a beach and within three hours of Sydney.
The next most affordable town is in the opposite direction: Erowal Bay, a small village in the Shoalhaven local government area along the NSW south coast. The median price in Erowal Bay is $355,000.
The third most affordable town is Nowra, also in Shoalhaven, with a median price of $355,500.
According to Dr. Andrew Wilson, chief economist at the Domain Group, these kinds of prices show that buying a holiday home or weekender on a budget near the beach is still possible.
“Three hours is still a pretty acceptable drive for most people and, as long as you’re not right on a beach, and you move away from some of the more expensive areas, you can find affordable property,” Wilson said.
“The best-priced are usually in hamlets and small areas that aren’t so well known beyond their own area. And there are plenty of options both north and south of Sydney.”
Listed here are the top 10 most affordable beachside towns within three hours of Sydney, along with their corresponding median prices:
- Nabiac - $354,500
- Old Erowal Bay - $355,000
- Nowra - $355,500
- Sanctuary Point - $365,000
- Bomaderry - $385,000
- Basin View - $386,000
- Berrara - $392,500
- Hawks Nest - $395,000
- West Nowra - $395,000
- Smiths Lake - $400,000
Collections: Mortgage News
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