Prestige Market Update NERIDA CONISBEE
The beach at Noosa
Beachside luxury: summer’s biggest hotspots The summer holidays are a great time to get away and relax – especially if you can relocate to your very own luxury beachside abode. While there is no shortage of beautiful beaches with amazing homes in Australia, when it comes to searching on realestate.com.au, Australians continue to flock to the same popular destinations. If you’re in the market for a beach house and run in certain social circles, this is where you should look. Over the break, Melbourne’s business elite converge on Portsea, Sydney celebrities head north to Palm Beach and families with young kids make the annual trip to Noosa, while the up-and-coming, Instagram-influencer crowd unwind in Byron Bay. What is surprising, however, is that the most popular luxury beachside location in Australia at the moment is an area that is far more private and far more laid back than the usual summer holiday haunts. Tightly held Flinders on the Mornington Peninsula in Victoria is the most popular premium beach location in Australia. It is close to Portsea so would attract a similar crowd, but is far more low key and private than its iconic rival. It is also an area that historically has been undiscovered, although clearly this may no longer be true. The most expensive sale in 2019, according to realestate.com.au, was a home at 33 Bass Street with a $6.8 million price tag. The who’s who in Sydney (and Hollywood) prefer to make the short trip north to Palm Beach. The Sydney beachside location is less for the Instagram crowd and more for those who value their privacy. It has been a destination for Nicole Kidman and her family, Elle Macpherson, Mick Jagger and Rachel Griffiths. Of the top 10 most popular luxury beach locations, it is the second most expensive, with a median house price of $3.6 million. Whale Beach is the most expensive
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suburb on the list, with a median price of $3.7 million, and is the third most popular luxury beachside destination in Australia. If you’re under 40, Byron Bay is a more popular option. In Byron there is a multitude of younger, cooler people buying or holidaying. Think the Hemsworths, friends of the Hemsworths, what Vanity Fair dubbed in a profile piece “murfers” (mums who surf), or visiting Hollywood celebrities. Byron is no longer the alternative seaside town it once was and now has prices rivalling those of many Sydney beachside suburbs. In the past year the most expensive property sold, as recorded on realestate.com.au, was 11 Marine Parade, which went for $18.85 million in March. Southeast Queensland also has its fair share of luxury beachside holiday destinations. Mermaid Beach and Broadbeach Waters on the Gold Coast are among the top 10, while Noosa on the Sunshine Coast is another favourite for holidaymakers. All have a number of high-end luxury homes, but the most expensive sale in 2019 recorded on realestate.com.au was a $10.3 million double block at Mermaid Beach. What’s distinctive about southeast Queensland is the level of interstate and international search activity. Sydneysiders and pretty much everyone in Australia loves the Gold Coast and Sunshine Coast equally. However, Melburnians show a distinct preference for Noosa, while overseas property seekers primarily look for homes on the Gold Coast. If you are from Melbourne, well off and have young children (just a personal observation), then Noosa is likely to be a good fit. You might also have a beach house in Portsea. Why stop at one? Portsea tends to attract Melbourne money and the majority of famous faces are exceptionally well connected with Australia’s business world. If you live in Toorak or Brighton and want to hang out with your neighbours over summer, then Portsea is the place to be. The luxury
destination’s $2 million median doesn’t adequately reflect just how expensive many of the homes are. The latest big-ticket sale was a Hamptons-style home that sold in October for more than $20 million. My own favourite luxury beachside location is Byron Bay. I’m an economist so I clearly don’t fit into the Instagram influencer crowd, but I’m too young for Portsea, my kids are too old for Noosa, and I’m not famous enough for Palm Beach. I also just really like the beaches! Nerida Conisbee, realestate.com.au Chief Economist
Most popular luxury beach locations in Australia, summer 2020 Beach
Region
Flinders
Morington Peninsula
Views per listing 6,071
Median price ($M) 1.7
Palm Beach
Sydney-Northern beaches
3,802
3.6
Whale beach
Sydney-Northern beaches
3,331
3.7
Byron Bay
Richmond-Tweed
2,027
1.3
Mermaid Beach
Gold Coast
2,872
1.5
Broadbeach Waters
Gold Coast
2,719
1.1
Portsea
Mornington Peninsula
2,383
2.0
Sunshine Beach
Sunshine Coast
2,073
1.4
Lorne
Geelong
1,794
1.3
Noosa Head
Sunshine Coast
1,722
1.1
Source:realestate.com.au
THE WEEKEND AUSTRALIAN
| FEBRUARY 8-9, 2020
