Dream holiday homes may be more affordable than you think

New research has revealed the dream of an Aussie holiday home by the beach could be more affordable than you may think.

It’s been revealed the cheapest beach houses in Victoria can be found at Loch Sport, with the median house price coming in just over $175,000 dollars.

The average price at Golden Beach is less than $210,000

And Seaspray's median house price comes in at $224,000.

But, of course, there is a catch - all of these locations are over 200 kilometres from the city.

If you're wanting something a bit closer, the best buys within 100 kilometres of the city are found at Coronet Bay, where the median house price is just $300,000. You'll pay around $390,000 at Cape Woolamai

And Corinella is the next best bargain location, also under $400,000 dollars.

But experts warn not every bargain buy is a good investment.

“For the really low cost destinations you're probably not going to get great capital growth,”

REA Group Chief Economist Nerida Conisbee told 9NEWS.

“But you will get a great place to holiday.”