It’s become famous for its hip, beachside lifestyle, celebrity spotting and sky-high property prices, and for many, owning a home in Byron Bay has become out of reach.

After hitting a peak of more than $3.2m during the pandemic, Byron Bay’s median house price has retreated to $2.4 million over the year to October 2023.

But there are plenty of beachside suburbs offering a similar lifestyle for a fraction of the price.

We’ve spoken to several property experts around the country to reveal where a home by the sea is still affordable.

Eden, Sapphire Coast, NSW

As A-list celebrities like Chris and Liam Hemsworth, Zac Efron and Matt Damon were flocking to Byron Bay in the north, hospitality entrepreneur Justin Hemmes of Merivale was betting on the future of NSW’s far south – specifically the Sapphire Coast – where he’s snapped up several pubs and eateries in sleepy Narooma.

But travel a little further south and you’ll reach the aptly-named, Eden, with a median house price of $710,000 according to PropTrack – a third of the price of Byron Bay and cheaper than nearby Narooma ($895,000).

“It offers surfing, bushwalking, hinterland, beaches, incredible food — especially the local seafood — and a really relaxed atmosphere,” said property agent, Alex Haddad.

With postcard-perfect looks, the third deepest natural harbour in the southern hemisphere, and a position midway between Melbourne and Sydney, it’s not difficult to see why the town was once considered as a site for Australia’s capital city. 

“At present a typical house is selling for $700,000, however you have acreages selling for over $1.2 million,” Mr Haddad said.

“As more people with money start buying these acreage properties, it will drive up the median, and everyone will want their very own ‘Eden.’”

Seaford, Frankston, Vic

Located an hour and a bit southeast of Melbourne, the Mornington Peninsula has long been a summer playground for Melburnians.

As such, this holiday hotspot comes with a suitably large price tag. Yet, as the gateway to the Mornington Peninsula, Seaford offers properties within steps of the sand for significantly less. 

“Though the secret has started to get out, the area is still a way more affordable option than other Peninsula areas,” said founder of Melbourne buyer’s agency Industry Insider Property, Andrew Date.

“And you can buy into A-grade pockets of this suburb for 10% less than you could when rates were at record lows.”

With a beautifully refurbished pier, stretches of white sand and crystal clear waters, Seaford is one of Port Phillip Bay’s hidden beach gems.

Then there’s the classic hallmarks of gentrification, from artisanal bakers and micro-breweries, to vintage boutiques and independent bookstores — this area has them all. 

“Seaford has a great sense of community with many sporting facilities and schools, Plus the train line has also undergone a large redevelopment, helping to improve access to the CBD.”

“The median price in the Mornington peaked at $1,350,000 at the beginning of 2022, while in Seaford the median is almost half that with the average price for a three-bedroom home at around $745,000,” Mr Date said.

Fingal Head, Tweed Heads, NSW

While Byron gets all the fanfare, further north — right on the Queensland border — there’s a quiet holiday resort that offers all of the charm, but without the sky-high property prices.

South of the bustle of the Gold Coast on a narrow spit of land between the Tweed River estuary and the ocean lies Fingal Head. 

“In my opinion, northern NSW is one of the best kept secrets when it comes to a sea change,” said Ray White Burleigh Group CEO, Tiger Malan.

“Fingal Head is my bargain beachside suburb — one where you can still buy a house for a tick over one million dollars, and a unit for about $800,000.”

A standout attraction here — and one within viewing distance from a green turtle colony — is the Australian equivalent of Northern Ireland’s famed World Heritage-listed Giant’s Causeway.

“I’d take a stroll down a deserted Fingal Head Beach over one on a jam-packed Bondi Beach any day of the week,” Mr White said. “It’s stunning!

“Saying that, what you don’t get here — and which is why it’s so much cheaper — are lifestyle amenities, like major shopping centres and high-end dining. But, Fingal is not far from the Gold Coast, so with a short commute, you’re back in the thick of it.

“Ultimately, it boils down to what you want in a sea change —  if you’re simply chasing sand between the toes, you can get your own piece of paradise for a bit of a steal.”

Penguin, Tas

Situated along Bass Strait, and named after its population of the cute fairy penguins that populate it, the quaint village of Penguin on Tasmania’s northwest coast offers wannabe sea-changers the potential to bag a bargain. 

“Penguin stands as a well-kept secret, largely undiscovered by the masses,” said buyer’s agent and founder of Aus Property Professionals, Lloyd Edge.

With a median house price of $520,000 according to PropTrack, Mr Edge said Penguin offers incredible affordability, particularly for young families.

This picturesque town offers a plethora of activities, from scenic walking trails and breathtaking drives along the coast, to its weekly Sunday market — the largest covered market in the state, where more than 200 stalls sell local food, wine, crafts and goods.

“Despite its myriad charms, word about this hidden treasure remains somewhat off the radar,” continued Mr Edge.

“Thus preventing soaring property prices — but word is starting to get out.”

Deception Bay, Moreton Bay, QLD

A coastal suburb in the Moreton Bay Region — approximately 32 kilometres north of Brisbane’s CBD — Deception Bay is on the up, according to Brisbane and South East Queensland buyer’s agent, Rodney Holder. 

“Traditionally seen by many as a low socio area with its related problems, Deception Bay is rapidly gentrifying, but still offers waterfront property at comparatively affordable prices,” Mr Holder said.

The government is supporting population growth with various infrastructure projects, such as the transformation of the Deception Bay community facility and, given its proximity to the Queensland capital city, more investment is expected to follow. 

“Current medium value sits around the $580,000 mark,” Mr Holder said.

“But I’m expecting this to rise as we’re currently seeing a high buyer to offer ratio and rents are also rising.”

Russell Island, QLD

Easily accessible from the mainland, only 20 minutes by passenger ferry from Redland Bay, Russell Island — the largest of the Southern Moreton Bay group of islands — is blessed with beautiful views and wetlands that provide a habitat for a diversity of flora and fauna.

While these wetlands are beautiful, they’re also a reason for property on the island being infinitely more affordable, with a median house price of $341,000 according to PropTrack.

“The island developed a bit of a bad reputation, especially in the 70s and 80s, as a lot of the land sold turned out to be swampy and pretty much useless,” Mr Haddad said.

“However, if you know what to look out for, certain areas of the island are a great place to buy. In fact, Russell Island is probably one of the cheapest beachside areas in Australia.

Parts of the island have been declared conservation areas and, over the next few years, a series of walking trails are planned. Plus, there are beaches for swimming and dishing, as well as picnic and BBQ areas, alongside cafes and shops including a bakery, supermarket and garage, all of which are a short walk from the jetty.

“The island has all the essentials and you can reach the mainland on the ferry in about 15 minutes,” Mr Haddad said.

“Plus, it’s part of Redland City Council which is part of the Brisbane metro area, so you’re not far from the city.”