BUYING a home in NSW with ocean views for under $400,000 may seem like an impossible task in today’s property market — but these property deals still exist in some city pockets.
Recent sales records show an array of apartments with water vistas have sold for as little as $310,000 in parts of the state’s Central Coast, although all are about a 90-minute commute from the CBD.
Current listings include a two-bedroom unit in The Entrance that overlooks the beach, which is for sale with a price guide of $360,000 to $396,000.
Another two-bedroom unit on nearby Coral St also has water views and is for sale with a guide of $280,000 to $309,000.
Similar sales have included a one-bedroom unit with direct access to Wamberal Beach, which recently sold for $385,000.
A two-bedroom, waterfront home on The Entrance Road sold for $310,000.
Core Logic figures showed median unit prices remain below $400,000 in eight waterfront suburbs across the Greater Sydney region.
The cheapest is Toukley, another Central Coast suburb, where the median unit price is $313,000.
In adjacent suburb Gorokan, which sits on Lake Tuggerah and Budgewoi Lake, the median unit price is $332,500.
Other waterfront suburbs with low unit prices include Tuggerah, San Remo and Mannering Park.
In popular surf spot Bateau Bay, the median unit price is $396,000.
Local agent and property valuer Ron Coleman of Coleman Estate Agents said these areas are among the cheapest within a 250km radius of Sydney.
“But it probably won’t stay this way for long,” Mr Coleman said.
“Homes are getting a lot of interest from buyers (down south), especially investors, so there’s a potential upside to prices.”
Homebuyers hoping to nab cheap properties with water views will have a lot less luck in Sydney’s better known beach areas.
The average price of an apartment in Manly is $1.08 million, while in Bondi it is $900,000.
Avalon Beach units typically price at about $697,000, Cronulla units at $747,000.
GREATER SYDNEY’S 10 CHEAPEST WATERFRONT SUBURBS (by median unit price)
Toukley $313,000
Gorokan $332,000
Tuggerah $370,000
San Remo $380,625
Mannering Park $388,000
Bateau Bay $395,000
Canton Beach $398,000
Budgewoi $399,500
Long Jetty $400,000
The Entrance $400,000
Originally published as Homes with water views hit the market at prices under $400,000
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