http://www.news.com.au/money/proper...r-less-than-100k/story-e6frfmd0-1226239024939
BUYING a slice of Victoria's coastline may have been written off by many as an impossible dream, but buyers willing to cut down on comforts can still tease out a beachside getaway for less than $100,000.
The state's coastal market has generally held firmer than Melbourne over the past year, with a breakdown of beachside postcodes by property research firm RP Data showing the median house price rose 4.4 per cent in the year to August.
But stock levels remain high in many popular holiday spots, putting savvy buyers in the driver's seat.
Coastal getaways such as Seaspray, on Gippsland's Ninety Mile Beach, and Lakes Entrance are both offering holiday homes for under six figures.
Seaspray resident Barry Bleydell reckons that with a little time and effort, his beach shack at 19 Main Rd would make the perfect family getaway.
Mr Bleydell paid $135,000 for the two-bedroom house but is keen to wrap up a quick sale and has dropped the price to $99,500.
"It needs a bit of work but it is on a big block, a five-minute walk to the beach and could be made quite liveable," he said.
"I can't go any lower on price - it's a good buy at that."
Despite a median price closing in on $300,000, Lakes Entrance also still manages to throw up rock-bottom prices for holiday homes.
A two-bedroom unit in the town's Koonawarra Beach Resort is the cheapest property on the market with a price tag of $99,000.
Entry-level three-bedroom homes generally start about $165,000, while $190,000 will get you a tidy summer retreat within walking distance of the jetty.
The town's median house price rose 2.3 per cent in the year to August.
"We don't seem to get the big fluctuations in the market that larger areas get," First National Real Estate King & Heath agent Philip Dunn said.
Loch Sport, between the Gippsland Lakes and Ninety Mile Beach, is another traditional holiday destination heavy with long-term listings.
Prices have flattened over the past year and there is plenty on offer under the town's $165,000 median.
"It a good time for buyers," Surf Edge Real Estate director Adriana Bertolacci said.
"There is a lot of stock on the market and we have motivated vendors."
At the other end of the state, on the border with South Australia, prices at Nelson also have stalled.
Holiday shacks can be picked up for little more than $150,000, while three-bedroom properties generally start about $240,000.
A three-bedroom, two-bathroom home at 19 Sturt St with views over the Glenelg River is on the market for $265,000, after originally being listed for more than $300,000.
"The market is not what it was," Herbert Real Estate agent Greg Eddy said. "Sales are happening but demand is not where it was a couple of years ago."
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might be a good long term investment if you can find a tenant,
or a way to be able to boast to friends/relatives about owning that "beachside" property
BUYING a slice of Victoria's coastline may have been written off by many as an impossible dream, but buyers willing to cut down on comforts can still tease out a beachside getaway for less than $100,000.
The state's coastal market has generally held firmer than Melbourne over the past year, with a breakdown of beachside postcodes by property research firm RP Data showing the median house price rose 4.4 per cent in the year to August.
But stock levels remain high in many popular holiday spots, putting savvy buyers in the driver's seat.
Coastal getaways such as Seaspray, on Gippsland's Ninety Mile Beach, and Lakes Entrance are both offering holiday homes for under six figures.
Seaspray resident Barry Bleydell reckons that with a little time and effort, his beach shack at 19 Main Rd would make the perfect family getaway.
Mr Bleydell paid $135,000 for the two-bedroom house but is keen to wrap up a quick sale and has dropped the price to $99,500.
"It needs a bit of work but it is on a big block, a five-minute walk to the beach and could be made quite liveable," he said.
"I can't go any lower on price - it's a good buy at that."
Despite a median price closing in on $300,000, Lakes Entrance also still manages to throw up rock-bottom prices for holiday homes.
A two-bedroom unit in the town's Koonawarra Beach Resort is the cheapest property on the market with a price tag of $99,000.
Entry-level three-bedroom homes generally start about $165,000, while $190,000 will get you a tidy summer retreat within walking distance of the jetty.
The town's median house price rose 2.3 per cent in the year to August.
"We don't seem to get the big fluctuations in the market that larger areas get," First National Real Estate King & Heath agent Philip Dunn said.
Loch Sport, between the Gippsland Lakes and Ninety Mile Beach, is another traditional holiday destination heavy with long-term listings.
Prices have flattened over the past year and there is plenty on offer under the town's $165,000 median.
"It a good time for buyers," Surf Edge Real Estate director Adriana Bertolacci said.
"There is a lot of stock on the market and we have motivated vendors."
At the other end of the state, on the border with South Australia, prices at Nelson also have stalled.
Holiday shacks can be picked up for little more than $150,000, while three-bedroom properties generally start about $240,000.
A three-bedroom, two-bathroom home at 19 Sturt St with views over the Glenelg River is on the market for $265,000, after originally being listed for more than $300,000.
"The market is not what it was," Herbert Real Estate agent Greg Eddy said. "Sales are happening but demand is not where it was a couple of years ago."
=======================
might be a good long term investment if you can find a tenant,
or a way to be able to boast to friends/relatives about owning that "beachside" property
, quite an expensive boast.
