Australian waterfront homes command highest global price premiums
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Australian waterfront properties have emerged as the world’s most expensive lifestyle homes, with Sydney recording the highest price gap between waterfront and inland properties among 20 global luxury markets.
New research from McGrath shows Sydney’s waterfront premium reached 124 per cent in 2024, surpassing prestigious locations like Miami and Lake Como.
The premium for Sydney waterfront homes has increased significantly from 95 per cent in 2019, exceeding international markets including Miami at 93 per cent and the Bahamas at 72 per cent.
Brisbane’s waterfront premium rose from 45 per cent in 2019 to 56 per cent in 2024, matching Portugal’s Algarve region at 57 per cent.
Melbourne has seen sharp growth in its waterfront premium, rising from 27 per cent to 41 per cent, comparable to Paris properties along the Seine.
Regional areas along Australia’s East Coast offer more affordable waterfront options, according to McGrath Central Coast Group Principal Mat Steinwede.
“For those aspiring to live on the absolute waterfront and have a boating lifestyle, The Central Coast remains within reach and about a third of the price you would expect to pay in Sydney,” Mr Steinwede said.
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“In saying that, there are not too many deep waterfronts, so discerning buyers need to be willing to wait for the right property.”
Waterfront homes in Australia remain scarce despite the extensive coastline, as they often stay within families for generations.
Regional properties with water views, rather than direct water frontage, present more accessible opportunities for buyers selling non-waterfront homes in capital cities.
The research indicates that absolute waterfront properties offer unique advantages including private water access, uninterrupted views and potential for maritime facilities such as jetties and pontoons.
A new Australian property record was recently set with the reported $150 million sale of ‘Coonac’, a non-waterfront mansion in Melbourne’s Toorak, while Sydney’s harbourfront estate ‘Wingadal’ in Point Piper is currently listed with price expectations above $200 million.