Australians love houses with views, but getting a waterfront property often comes at a high cost.
However, there are still places around the country that come with waterfront and don’t cost more than $1 million.
Buyers can live on the water for less than $1m in all states and territories – if you know where to look. Photo: realestate.com.au
Here’s where you can live on the water for under $1 million in every state and territory.
Tasmanian ocean vistas
Looking for a home with a panoramic waterfront view? Tasmania offers several exotic destinations that are often more affordable than the mainland.
At Primrose Sands, you can secure nearly 6000sqm of land overlooking Frederick Henry Bay for around $640,000. The remote area looks remote, but it’s only 35 minutes from Hobart.
A large water plot of 5580sqm at 9 Tern Circle, Primrose Sands is available for around $640,000. Photo: realestate.com.au
David Lithgow of Harrison Agents said plots like these represented great value and would be hard to come by at these prices in the coming years.
He saw prices “double” between 2017 and 2021 before being “pulled back by 25%” in 2022. But now he was seeing an increase in market activity and he believed the median for waterfront properties near Hobart would rise rapidly.
In this case, buyers will need to allow construction, unless they are satisfied with living in a rustic shack and a caravan. He said interested parties are considering building an “eco-friendly house along the coast”.
121 Linden Road Primrose Sands sold for $757,000 this month. Photo: realestate.com.au/sold
For those happy with a small space, waterfront ready-to-move-in homes can be had for as little as $750,000, like this colorful shack that serves as a popular Airbnb, bringing in $70,000 a year. Sold for $757,000 this month.
And currently on the market, this four-bedroom home at 67-69 Linden Road is accepting offers in excess of $795,000. Buyers can enjoy spotting dolphins, whales and seals from the balcony, and the property has access to the water and a boat dock.
67-69 Linden Road in Primrose Sands is asking offers in excess of $795,000. Photo: realestate.com.au
Of course, waterfrontage comes at a very high price. PropTrack data shows the median house price in Primrose Sands was $505,000 as of February, up 6.3% year over year.
Mr Lithgow also pointed to Orford, which he believes is destined for growth.
Victorian serenity
Finding a piece of Melbourne waterfront for under $1m is a tall order, but just 2.5 hours east in Port Albert, house hunters are in luck.
11 Pier Street, Port Albert is scheduled for auction in April with a price guide of $860,000 – $880,000. Photo: realestate.com.au
Seniors housing agent Sonya Brown, who owns a three-bedroom house at 11 Pier Street, said the historic pier attracts water enthusiasts.
“It’s still not available compared to the Mornington Peninsula,” he said, but admitted it was a “difficult journey” from Melbourne, which kept prices under $1 million.
A three-bedroom home sits at the end of a cul-de-sac with a wrap-around porch that overlooks the marina. Photo: realestate.com.au
The area, located less than 80 kilometers from Taralgon and Sale, has attracted retirees who “love peace and quiet”.
“Being on the waterfront adds value. We believe this is a good value for water views. You can take your boat out and look at it every day.”
The median house price in Port Albert is $450,000 according to PropTrack, up 4.1% from last year.
Places to live in South Australian lifestyle waterfronts
It’s not often you hear the words “entry level” and “waterfront” in the same sentence, but Ben Heaslip of South Coast Realty said the undeveloped properties in Encounter Bay, near the historic Victor Harbor, are more accessible than the surrounding new developments and renovated homes.
The median home price in Encounter Bay is $735,000. Photo: realestate.com.au
His current listing at 23 Matthew Flinders Drive is priced at $800,000-$850,000. He said many pre-renovated homes have sold north of $1 million and up to $1.2 million.
He believes that properties with ocean views will continue to attract a premium because they are becoming harder to find.
23 Matthew Flinders Drive is listed for $800,000-$850,000. Photo: realestate.com.au
Before 2020, lakefront properties cost $650,000, but those days are gone, with owner-occupiers drawn to the “lifestyle benefits” of being on the water while being less than an hour from Adelaide. Right now, residential properties with renewable energy “are snapped up within a week,” he said.
The median home price in Encounter Bay was $735,000 as of February 2026, up 4% year over year.
Absolute lakefrontage in the nation’s capital
Waterfront properties in Canberra are rare and finding one for less than $1 million is rarer still, but new apartment buildings in Belconnen, 15 minutes from the city centre, have helped more buyers enjoy lakeside views.
Lakefront living in the ACT is possible for under $1m. This two bedroom unit is listed for $780,000. Photo: realestate.com.au
A two-bed bungalow with tranquil views across Lake Ginninderra is on the market for $780,000. Listing agent Lalita Chaplin said 1008/161 Emu Bank, Belconnen has drawn buyers who don’t want to compromise on quality.
“The waterfront offers a peaceful environment and easy access to the lake,” he said.
It also gave the owners a great sense of place. “It’s like you’re floating on water,” she said.
The water is warmer in the north
If you’re looking for a unit in a warmer climate, buyers may need to look further north. But fastidious locals say swimming is off-limits.
13/1 The Strand, Townsville City is listed from $775,000. Photo: realestate.com.au
House prices have skyrocketed in Tropical Townsville, but beachfront homes are still available for less than a million, if you’re willing to share walls with your neighbors. This three-bedroom, two-bathroom apartment is currently on the market for just under $800,000.
This four bedroom village house with pool and jetty is now available. Photo: realestate.com.au
Darwin’s property market is also currently booming, with waterfront properties being snapped up quickly. In Bayview, a four-bedroom 4/5 Pope Court home that was listed for over $995,000 has just been offered.
WA waterfronts
Kick back on the deck at Pelican Point two hours south of Perth, and watch the water ebb and flow.
Seniors housing agent Ben Colman said his three-bedroom listing at 7C Basilica Place in the Grand Canals Estate – which is now being offered – had attracted a lot of interest because there were few properties on the market.
7C Basilica Place was offered from $990,000. Photo: realestate.com.au/sold
He said properties like this one with access to a private canal in Leschenault Inlet hold a stronger share than others with the same land size and residential area.
“The view is amazing and you can fit your own private pontoon. I’ve seen dolphins swimming here,” he said.
The median home price in Pelican Point is $519,000 according to PropTrack data, although homes on the east side command a premium.
Waterfrontage not far from Sydney
In Australia’s most expensive state, New South Wales, waterfront property comes at a staggering price in many coastal areas.
But that doesn’t mean buyers can’t cast a line from the backyard to a few select locations that are well-connected to major rental hubs.
The waterfront home sits on a 512sqm lot with a private jetty and boat ramp. Photo: realestate.com.au
Dora Creek in the Lake Macquarie region sits 45 minutes from Newcastle and 90 minutes from Sydney’s CBD, with a newly renovated two-bedroom waterfront home at 72 Kalang Road on the market for $990,000.
Around the corner, 50 Baker Street is within walking distance of the train station and is listed for $990,000 – $1,080,000.
50 Baker Street has a private boat ramp and water deck. Photo: realestate.com.au
The median home price in Dora Creek is $737,750 according to PropTrack.
Buyers willing to trade up for size can find a perfect waterfront property in the heart of bustling Port Macquarie, with 2/2 Harbor Lane listed for $850,000 – $890,000.
Buyers get direct access to the canal with this three bedroom unit, located in the heart of Port Macquarie. Photo: realestate.com.au
The spacious three bedroom unit has access to a shared jetty and boat ramp so buyers can launch their canoe or kayak, cast a line, or just sit and watch the passing boats glide by.
