Recent activity in the Australian property market indicates new growth in the holiday home and beach house sector, with an increase in the number of top end waterfront properties being sold.
New figures released by the Australian Property Monitors have revealed a price growth in a number of seaside areas compared to one year ago, with a greater proportion of buyers now snapping up homes that are above the $1 million mark.
Fifty-four homes were sold in Callala Beach this year, compared to 41 in 2011, while the exclusive Hyams Beach area of Sydney also saw an increase in property sales.
Compounding this trend is the sale of a luxury waterfront home in Glenelg North on Boxing Day, which became the most expensive house in Adelaide this year.
The 650 sq m Riverdell property, which boasts five bedrooms, six marble bathrooms and two private marina berths, was sold by Toop & Toop Real Estate for $4.6 million.