Australians love homes with views, but securing a waterfront property often comes at a hefty cost.
However, there are still locations around the country that come with a waterfront aspect and don’t tip over the $1 million mark.
Buyers can live on the water for less than $1m in every state and territory - if you know where to look. Picture: realestate.com.au
Here's where you can live a life on the water for less than $1 million in every state and territory.
Tasmanian ocean vistas
Seeking a home with an enviable waterfront panorama? Tasmania offers several extraordinary locations that are often far more affordable than the mainland.
In Primrose Sands, you can secure almost 6000sqm of land overlooking Frederick Henry Bay for about $640,000. The secluded location looks remote, but is just 35-minutes from Hobart.
A huge 5580sqm waterfront parcel of land at 9 Tern Circle, Primrose Sands is available for around $640,000. Picture: realestate.com.au
David Lithgow of Harrison Agents said sites like this represent enormous value and would become harder to find at these prices in years to come.
He saw “prices double” between 2017 and 2021 before being “dragged back by 25%” in 2022. But he was now seeing increased market activity and believed the median for waterfront locations with good proximity to Hobart would rise quickly.
In this case, buyers will need to allow for a build, unless they are content to live in the rustic shack and caravan. He said interested parties were considering building “an eco-friendly house that fits in with the coast line”.
121 Linden Road Primrose Sands sold for $757,000 this month. Picture: realestate.com.au/sold
For those happy with a smaller plot of land, ready-to-move-in homes with absolute waterfrontage can still be snapped up for around $750,000, like this colourful shack that also serves as a popular Airbnb, bringing in $70,000 annually. It sold for $757,000 this month.
And currently on the market, this four bedroom home at 67-69 Linden Road is accepting offers over $795,000. Buyers can enjoy sightings of dolphins, whales and seals from the balcony, and the property has a path to the water & boat mooring from the backyard.
67-69 Linden Road in Primrose Sands is asking for offers over $795,000. Picture: realestate.com.au
Of course, waterfrontage comes at a premium. PropTrack data shows the median house price in Primrose Sands was $505,000 as of February, up 6.3% year on year.
Mr Lithgow also pointed to Orford, which he believed was primed for further growth.
Victorian serenity
Securing a slice of waterfrontage in Melbourne for less than $1m is a tall ask, but just 2.5 hours east in Port Albert, househunters are in luck.
11 Pier Street, Port Albert is scheduled for auction in April with a price guide of $860,000 - $880,000. Picture: realestate.com.au
Elders Real Estate agent Sonya Brown, who holds a three-bedroom listing at 11 Pier Street, said the historic fishing village attracted people who enjoyed water activities.
“It’s undiscovered compared to the Mornington Peninsula,” she said, but admitted that it was “a hard commute” from Melbourne, which kept prices under $1 million.
The three bedroom home sits at the end of a cul-de-sac with a wrap-around verandah looking across to the marina. Picture: realestate.com.au
The area, located less than 80 kilometres from Taralgon and Sale, drew retirees who “like the serenity and quietness”.
“Being on the waterfront does add value. We believe this is a good price 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% compared to a year ago.
South Australian lifestyle waterfronts
It’s not often that you hear the words “entry level” and “waterfront” in the same sentence, but Ben Heaslip of South Coast Realty said unrenovated properties in Encounter Bay, not far from historic Victor Harbor, are more accessible than the surrounding new builds and refurbished homes.
The median house price in Encounter Bay is $735,000. Picture: realestate.com.au
His current listing at 23 Matthew Flinders Drive is priced at $800,000-$850,000. He said a lot of renovated homes on the frontage sold for north of $1 million and up to $1.2 million.
He believed properties with waterfront views would continue to attract a premium because they’re increasingly difficult to obtain.
23 Matthew Flinders Drive is listed for $800,000-$850,000. Picture: realestate.com.au
Before 2020, lakefront properties were going for $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. Currently, residences with renovation potential are “snapped up within a week,” he said.
The median house price in Encounter Bay was $735,000 as of February 2026, up 4% year on 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 complexes in Belconnen, 15-minutes from the city centre, have helped more buyers to enjoy lakefront views.
Lakefront living in the ACT is possible for less than $1m. This two bedroom unit is listed for $780,000. Picture: realestate.com.au
A two-bedder with a calming outlook across Lake Ginninderra is on the market for $780,000. Listing agent Lalita Chaplin said 1008/161 Emu Bank, Belconnen drew downsizers who didn’t want to compromise on quality.
“The waterfront gives a peaceful environment and the ease of walking around the lake,” she said.
It also gave owners a greater sense of space. “As if you’re floating above the water,” she said.
Warmer waters in the north
If you’re looking for a unit in a warmer location, buyers may need to look to the far north. But snappy locals means swimming is likely off limits.
13/1 The Strand, Townsville City is listed from $775,000. Picture: realestate.com.au
Home prices have skyrocketed in tropical Townsville, but waterfront homes are still available for under a million, if you're prepared to share walls with your neighbours. This three-bedroom two-bathroom apartment is currently on the market for under $800,000.
This four bedroom townhouse with pool and jetty is now under offer. Picture: realestate.com.au
Darwin's property market is also booming at the moment, and waterfront properties are being snapped up quickly. In Bayview, a four bedroom townhouse at 4/5 Pope Court that was listed with offers over $995,000 has just gone under offer.
WA waterfronts
Kick back on the deck in Pelican Point two hours south of Perth, and watch the water ebb and flow.
Elders Real Estate agent Ben Colman said his three-bedroom listing at 7C Basilica Place in the Grand Canals Estate - which is now under offer - had drawn plenty of interest because few properties were on the market.
7C Basilica Place was offered from $990,000. Picture: realestate.com.au/sold
He said properties like this one with private canal access on the Leschenault Inlet held stronger appeal than other properties with a similar land size and dwelling.
“The view’s incredible and you have the potential to put in your own private pontoon. I’ve seen dolphins swimming here,” he said.
The median house price in Pelican Point is $519,000 according to PropTrack data, though waterfront homes command a premium.
Waterfrontage not far from Sydney
In Australia's most expensive state, New South Wales, waterfrontage comes with an eyewatering price premium in most coastal hotspots.
But that doesn't mean buyers can't drop a line in from the backyard in a select few locations that are also surprisingly well connected to major employment hubs.
The waterfront home sits on a 512sqm block with private jetty and boat ramp. Picture: realestate.com.au
Dora Creek in the Lake Macquarie region sits just 45 minutes from Newcastle and 90 minutes from Sydney's CBD, with a newly renovated two bedroom absolute 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 listed for $990,000 - $1,080,000.
50 Baker Street has a private boat ramp and an over-water deck. Picture: realestate.com.au
The median house price in Dora Creek is $737,750 according to PropTrack.
Buyers willing to trade down in size can snap up an absolute waterfront unit in the heart of bustling Port Macquarie, with 2/2 Harbour Lane listed for $850,000 – $890,000.
Buyers get direct canal access with this three bedroom unit, located in the heart of Port Macquarie. Picture: realestate.com.au
The spacious three bedroom unit has access to a shared jetty and boat ramp so buyers can launch their boat or kayak, drop a line in, or simply sit back and watch the passing boats glide by.
English (US) · 