While that may seem like an elite club, its membership now includes 615 suburbs across Australia. This is up from 277 suburbs in 2012 at the start of the current growth phase, CoreLogic’s Cameron Kusher reports in Money Magazine.
“Between June 2012 and June 2016, every state and territory except for Tasmania and the Northern Territory has recorded an increase in the number of suburbs in which median house values are $1 million or greater,” Money Magazine reports.
And if your suburb didn’t crack the rich list this time, don’t worry. The only way is up.
“With mortgage rates low we would expect the number of suburbs with a median value of $1 million or more to grow over the coming financial year.”
If you live in these suburbs, crack open the Moët, raise your pinkies, and toast your new million-dollar status.
- Chelmer (Media house value $1,120,000)
- Fortitude Valley (Median house value $1,384.,000)
- Pullenvale
- Ransome
- Willawong
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