In the past three months, 32 more suburbs in Australia’s capital cities have crossed the million-dollar median property mark, according to new data from Domain.
Suburbs in Sydney, Brisbane, Adelaide, Perth, and Melbourne are all on the list of rising property hotspots.
South Australia now boasts 27 suburbs with median prices above $1 million, with Magill recently joining the list.
In Victoria, Maribyrnong (houses) and Ivanhoe East (units) recorded impressive price increases of 7.2% and 7.5%, respectively, pushing both above $1 million.
New South Wales saw 14 additional suburbs reach the million-dollar median, including South Wentworthville, where median prices surged by 14.4% last quarter.
In Western Australia, Beaconsfield and Booragoon were among six suburbs crossing the million-dollar mark, while Queensland added nine suburbs to the list, including Aspley and Bellbowrie.
Four suburbs across Australia joined the exclusive $2 million club this quarter: Croydon Park, Mascot, and Double Bay in New South Wales, and St Lucia in Queensland.