WA’s affordable coastal living is State’s best kept secret with beachside properties going for less than $500k

The great Australian dream is to own your own home. An even more opulent wish is to buy one with ocean views and gentle waves lapping near your doorsteps. And, believe it or not, while Western Australia’s beaches may be world renowned for their stunning white sands, swimming and surfing, it’s still possible to buy a coastal home for under $500,000. Despite the real estate boom, property expert Gavin Hegney said there were still some budget buys along the coast — between Lancelin and Walpole — for both holiday home and entry-level buyers. Mr Hegney said Perth residents tend to overlook their own backyard, in favour of secret spots in the South West, but he said the metropolitan area can also provide a holiday experience without the long commute. “The best thing may well be under your nose,” he said. Research by The West Australian uncovered examples of holiday-home style abodes by the beach under $500,000 includes a two-bedroom, 66sqm unit in a 70s-style complex on Filburn St — which is a street back from the beach in Scarborough. The flat sold for $500,000 in September, with the home offering its new owner easy access to Scarborough’s bars and restaurants, the night markets, a public pool and a beach that is a mecca for local surfers. Mr Hegney said while older flats like the one on Filburn St were not generally regarded as one of the market’s better property investments, they still experienced price increases like any other home, albeit usually at the tail-end of a boom. He said the units tended to sell below re-build value, and owners — particularly in smaller complexes on big blocks — had the potential to sell at a premium if they sold en masse to a developer. Another example of a budget beach buy is a fully renovated one-bedroom unit in an older-style complex on McNamara Way in Cottesloe, which sold for $462,000 in August. The home has provided someone either an entry-level home in the exclusive suburb, or a weekender close to one of the State’s most beautiful beaches. If you are prepared to head an hour north to Seabird, you can not only find a home by the beach for under $500,000, but it will likely come with a decent plot of land. In March a one-bedroom home on Harold’s Way in Seabird — complete with solar panels and 800sqm of land — sold for only $410,000. Or if you want a ‘lock up and leave lifestyle’, there are plenty of cheaper units an hour out of Perth, which includes a two-bedroom unit on Atkinson Way, Lancelin, which sold for only $390,000 in November. Mr Hegney said while investors had already woken up to Rockingham’s potential since the AUKUS investment, there were still some decent budget buys in the area. They included a two-bedroom, double-story townhouse on George St, seven streets from Palm Beach, Rockingham, which sold in September for $490,000. “Rockingham used to be a place where people went on holiday, before it became a suburb,” Mr Hegney said. “Perhaps it is time we go back to that.” A little further south, a modern, one-bedroom stand-alone house on a 293sqm block on Ferguson St, Falcon — about 400 metres from the beach — is currently under offer after listing for $495,000. South Bunbury — which has been highlighted for its investment potential in the Hot 100 compiled through the Rea Group — has recently seen some astonishingly good deals. They include a two-bedroom unit on a north-facing 239sqm block on Joel Crescent, less than 100m from Bunbury Back Beach, which sold for $455,000 in November. The home was built in 1981 and includes undercover parking. Those looking to really get away from it all can find some budget beach buys in the Great Southern. They include a three-bedroom shack on a 455sqm block at Peaceful Bay, near the Valley of the Giants Tree Top Walk, between Walpole and Albany. The home, which is a short walk to the beach, includes a car port, cubby house and a second toilet and is listed for $360,000. Nearby, a modern two-bedroom, two-bathroom home in Walpole with undercover parking is currently under offer, after seeking $480,000.