Across the country, the value of waterfront properties is increasing sharply. Limited availability is driving demand, making homes with direct water access less accessible to many buyers. Beachfront and riverfront properties are particularly sought after, with prices rising quickly, especially in major cities like Sydney and Melbourne where waterside living is highly valued.
Over the past five years, the price difference between waterfront and inland homes has noticeably widened. In 2017, waterfront homes sold for around 44% more than non-waterfront ones. By 2024, that gap had grown to 71%, with the average premium now reaching 86%. This trend is particularly strong in cities such as Sydney, Melbourne, Brisbane and the Gold Coast, where the limited supply continues to push prices upwards.
Sydney recorded the highest waterfront premium in 2024 at 122%, up from 118% in the previous year. Melbourne also showed solid growth, with its waterfront premium rising to 43%, compared to 38% two years ago. Suburbs such as Mosman and Vaucluse in Sydney and riverside areas along Melbourne’s Yarra River remain highly desirable. In Queensland's regional markets, Broadbeach Waters and Noosa Heads are increasingly popular with buyers looking for seaside homes.
A notable example is a home sold at Belongil Beach in Byron Bay for $33.5 million. This sale set a new local record despite the area not being among the busiest for property transactions in recent years. Inland homes in the same region typically sell for between $20 million and $30 million. Other prominent listings include a $15 million waterfront property in Kangaroo Point, Sydney and a $4.5 million riverside home in Brisbane.
Looking forward, waterfront property prices are expected to continue rising. With coastal properties becoming increasingly scarce and few new land releases available, demand remains strong. Buyers are clearly willing to pay high premiums for the exclusivity, convenience and lifestyle that come with waterfront living.
