Can you still bag a bargain in our most bougie holiday destinations? This is what we found

Buying into Australia's favourite holiday hotspots can feel a bit like trying to snag the last beachside park on a hot summer's day: crowded, competitive and needing luck on your side.

But it's not all multi-million-dollar trophy homes and glossy new developments. You can access premium postcodes without the premium price tags with the entry-level buy - it just looks a little different these days.

It's time to expand the Aussie dream of owning a house with a backyard. When it comes to prime holiday locations, lifestyle is king - and apartments offer that magic mix of a lower entry point without sacrificing location.

In places like Mermaid Beach on the Gold Coast, Karen Dinning of Realty Blue Mermaid Beach said the appeal is obvious.

"The main benefit is you're surrounded by substantial, high-priced properties," she said.

Median land parcels around 405 square metres, "are now sitting anywhere from $3.2 million for a knockdown," making the sub-$800,000 bracket feel almost mythical.

Stock in that range is scarce. So scarce, in fact, that Ms Dinning said, "there's literally nothing at the moment" aside from a single over-50s village listing and a one-bedroom apartment at 19/38 Petrel Avenue asking for offers over $735,000.

"I'll be honest with you, I have been absolutely smashed with this apartment," she said, talking about the intense interest for the property under $800,000 so close to the beach. Many of the enquiries are from first-home buyers.

Lifestyle for less

For those who do manage to snag something in these premium holiday markets at a lower price range, the lifestyle payoff is huge.

"You could live quite a comfortable life, literally 200 metres from the beach," Ms Dinning said.

"You're actually living a luxe lifestyle, and it's a really low price point."

She's noticed a shift in the market since COVID, with many more owner-occupiers interested in buying in the region, seeking that 'holiday everyday' feeling.

"This apartment block [at Mermaid Beach] was mostly all holiday lettings when it first started.

Now, all of a sudden you're getting mostly owner-occupiers coming, mainly because prices are skyrocketing," Ms Dinning said.

"People want to have the right balance in their life. They're sick of this stressful 12 hour day."

Byron Bay tells a similar story, with its own twist.

While the headlines tend to focus on celebrity purchases and eye-watering house sales, First National Byron's Paul Banister said the real conversation should include the locals. Affordable stock is limited, yet deeply needed.

"Developers are catering for wealthy holidaymakers," he said.

However, entry-level options - like the one-bedroom loft he's selling in the highly coveted 'Sunrise' pocket of Byron Bay - fill a crucial gap for residents.

Most buyers for the loft listing are single women in their 30s to 50s, he said, drawn to the practicality and price point, which is $675,000 to $700,000.

Whether you're an owner occupier or an investor, Mr Banister sees multiple positives to buying an apartment and therefore lowering the barrier to entry.

There is the location benefit, but there's also the freedom and flexibility you gain from this dwelling type.

"One of these apartments is perfect, because you can lock it up and leave without any stress of having to maintain the property," he said.

Time to move

Ms Dinning said that if you're thinking of buying in a premium holiday area like Mermaid Beach, the time is now.

"I think those days are going to be gone soon, where you can get something under $800,000. If you don't get that first step into the market, you'll lose out."

Whether it's Mermaid, Byron, Noosa or any holiday hub with a cult following, the value proposition is the same: buy small, buy smart, and you still get the bougie lifestyle, minus the bougie price tag.

On the radar

A perennial holiday favourite, Port Douglas has a range of affordable apartments on the market.

There are one-bedroom flats from $210,000, but this two-bed apartment with parking is under $500,000 and is across the road from the splash park and 150 metres from both Four Mile Beach and Macrossan Street.

Fully furnished and located in The Beach Terraces Apartments complex, it's an easy breezy stroll into town.

It's hard to find anything under $800,000 in the Mornington Peninsula's ritzy Sorrento, but this two-bed apartment is the only listing in a prime location asking $695,000 to $750,000.

Found in the centre of historic Sorrento village among boutiques, gourmet eateries and a short amble to the surf beach and foreshore, this modern apartment in the popular 'Salt' complex offers a low-maintenance getaway with high-value lifestyle appeal.