Strong property price growth has added hundreds more suburbs to the million-dollar property club.

New CoreLogic figures show 450 additional suburbs have a median of $1million or more while 37 suburbs had a median unit price of more than $1million.

A record number of homes sold for $1million or more in the year to March 2022, with 23.8% of all homes that sold trading for more than $1 million.

CoreLogic research analyst Kaytlin Ezzy says a number of regional areas made it into the million-dollar club in the past 12 months.

She says regional suburbs made up a third of new entries.

“The value growth we have seen over the past couple of years has been quite dramatic,” she says.

“It doesn’t get you a great deal anymore. We’ve had pretty rapid price growth. What was selling for $950,000 to $1 million 12 months ago, those older style houses, are now selling for $1.15 million to $1.2 million.”