Buyers looking to snap up a home on Australia’s coastline are paying some of the highest prices in the world, and demand is rising.
Waterfront homes in Sydney recorded an average price premium of 121 per cent compared to their inland counterparts, new research showed.The Gold Coat and Perth were also among the top five cities for waterfront price premiums.Waterfront homes cost more than double their inland counterparts in Sydney, while in Melbourne homes on the water attract a price premium of almost 40 per cent, new research shows.
Brisbane and Melbourne were also in the top 10, along with Monaco , Phuket and Dubai . Hong Kong rounded out the list, with a premium of 7 per cent. “As a result, our Australian cities can achieve a significantly higher premium on the waterfront compared to a similar property inland without access to, or a view of, water,” she said.“Also, Australia is known for its balmy outdoor lifestyle, so many buyers in this super-prime space are willing to pay a premium to secure the ideal position along the waterfront.”
“Point Piper would be number one, it’s the best of the best, but the non-waterfront homes there are also very expensive,” he said. “You’ll probably still spend 100 per cent more on a waterfront though.” In Melbourne, Nick Johnstone, director of Nick Johnstone Real Estate in Brighton, has a list of clients waiting for a beachfront property.
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