You might think that securing a waterfront property for less than $500,000 is impossible, but you can actually find one in almost every corner of the country - almost.
Opportunities to buy up apartments, houses and even land just meters from the water are abundant across Australia, and with the wide variety of options and budgets, there's something for everyone.
Here, we break down what you can get hold of for less than half a million.
Victoria
It’s tough to find a waterfront property in metro Melbourne, but Werribee South makes the cut with one-bedroom and two-bedroom apartments on the market for around $500,000.
Take in the ocean breeze from your balcony in Werribee South. Picture: realestate.com.au
PropTrack data shows that the apartment median in Werribee South is $440,000, up 9.3% in the past 12 months.
For good proximity to Melbourne, try Geelong’s bustling waterfront, where some apartments, like this modern one-bedder at 908/10 Bellerine Street have a sub $500,000 price tag.
Further afield, you can secure waterfront residential land on the developing Mildura Marina for between $390,000 - $429,000.
Land on the marina can be snapped up for less than $450,000 in Mildura. Picture: realestate.com.au
In Mallacoota in East Gippsland, at the very tip of the state, pick up a peaceful slice of paradise - one of the last undeveloped blocks on the waterfront. The 922sqm of residential land is priced at $495,000
New South Wales
Brushgrove, located inland on the north coast of NSW, is home to a 100-year-old timber church on the Clarence River, on the market for $390,000, though it doesn’t have a bedroom or bathroom.
The 100-year-old church sits on the Clarence River. Picture: realestate.com.au
Elders agent Benny Holder said it wasn’t currently liveable, and due to the heritage overlay, buyers need to speak with the council about conversion of the property on the 2,023sqm site at 11 Woodford Street. The area is prone to flooding and therefore the church may need to be raised.
“There’s a government grant for the resilience program to help raise homes in the area,” he said.
The property does not have any bedrooms or bathroom facilities. Picture: realestate.com.au
Due to the challenges, it’s been on the market for 180 days, but he says the right buyer might build a new dwelling on the site and keep the church as it is. It could be a good opportunity for someone.
“I’ve never had a property so insanely viewed,” he added.
For a tropical vibe, head to Sapphire Beach in Coffs Harbour where a two-bed, one-bath villa in the caravan park is on the market for $390,000. While living in a caravan park isn’t for everyone, PropTrack data shows the median home price is $1.165 million, so this could be a far more affordable way to reside by the water in this enviable location.
Under offer: This home on the Tweed River was listed for just $495,000. Picture: realestate.com.au/sold
Elsewhere, a one-bedroom established home on the Tweed River in Murwillumbah just sold for $495,000, though this unit in Port Macquarie has water views for $345,000.
Queensland
Parts of Queensland are luring owner-occupiers and investors alike.
South Townsville has recently attracted good rental yield for investors, making dual key units such as this two-bedder at 2/30-34 Palmer Street attractive, on the market for $350,000+.
Water views in booming Townsville can still be found for around $350,000. Picture: realestate.com.au
It’s a competitive option, with PropTrack data showing the average unit in South Townsville is $462,500 and climbing - up 23.8% in 12 months.
Alternatively, head to South MIssion Beach in Gladstone, where there’s a fully furnished dwelling at 5/31 Mitchell Street listed for $445,000. Facing a 14-kilometre stretch of beach, it looks out over Dunk and Bedarra Islands and is 1.5 kilometres from Cairns Airport.
Tropical far north Queensland still offers affordable waterfront living. Picture: realestate.com.au
Want to build your own waterfront home? Try Slade Point, just 10-minutes from Mackay where there’s a vacant block on on the market for $295,000
South Australia
In South Australia, it’s hard to find a waterfront residence for less than half a million in 2026, but head to Weeroona Island, just out of Port Pirie.
This one-bedroom home at 19 York Road is on the market for $400,000, and comes with an extraordinary ocean frontage.
19 York Road, Weeroona Island offers absolute waterfrontage for $400,000. Picture: realestate.com.au
For waterfront residential land, try Point Boston, also near Port Pirie and 20 minutes from Port Lincoln, with 71 East Parade listed for just $189,000. At that price, there could be enough left over to build a great home that takes in the sweeping landscape.
PropTrack data shows established homes here sell for a median of $715,000 and they don’t come up often.
Rachel Hawkins of Harris Real Estate said it was a beautiful part of the Eyre Peninsula and locals are snapping up blocks and building new homes.
“All the services are there and we have good local builders,” she said, adding these waterfront blocks allowed for single-storey builds.
Buyers can snap up 669sqm of waterfront land in Point Boston for $189,000. Picture: realestate.com.au
The appeal was in the proximity to Port Lincoln which has a regional airport offering daily flights to Adelaide. The views of Louth Island and the opportunities for swimming, paddleboarding and walking along picturesque trails appealed to prospective buyers.
Tasmania
Prices in the Apple Isle have generally been trending upwards, so waterfront properties under $500,000 are rare, but head to Swan Point, 30-minutes from Launceston, for a three-bedroom home at 195 Paper Beach Road, on the edge of Gravelly Beach, for $495,000.
Not bad, considering PropTrack data shows the median here is $655,000, up 11.5% in a year.
Homes in Tasmania's Clarence Point offer affordable waterfront living. Picture: realestate.com.au
Elsewhere, several listings in Dover, Clarence Point and Swansea offer affordable waterfront living.
In Taranna, a bit over an hour from Hobart, you can become the proud owner of 40 hectares of residential land with spectacular views of Little Norfolk Bay for $450,000+.
More than 40 hectares of waterfront land is on the market in Taranna for $450,000+. Picture: realestate.com.au
You’ll need to fund a home build too, but imagine the views from your future living room at 6 Sympathy Point Road.
ACT
In the ACT, you’re limited to apartments if you’re looking for a waterfront property under $500,000.
Try this one-bed apartment in centrally located Kingston at 85/43 Eastlake Parade, right on the foreshore, on the market for $449,000+. The complex also has a rooftop terrace and a resident movie room.
In Belconnen, travel to the 13th floor of this apartment complex at 608/4 Grazier Lane and enjoy a two bedroom residence with magnificent views of Lake Ginninderra.
Northern Territory
For less than $500,000, try the esplanade in Darwin City, where there’s a dual key property at 719 & 720/88 Esplanade with water views listed for $460,000.
Not directly waterfront, but the NT has few options priced below $500,000. Picture: realestate.com.au
In Western Australia, property prices have boomed in recent years, leaving little-to-no waterfront options for less than $500,000, and when they do hit the market, they're snapped up at lightning speed.
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