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The million dollar club




At the end of 2014 there were 406 suburbs nationally with a median value above $1 million, by the end of 2015 the number had increased by 31% to 530 suburbs nationally.

There was a time when housing that cost more than $1 million was seen as exclusive however, with recent rises in home values, suburbs with a typical home value of more than a $1 million are becoming more common. This analysis looks at the median values of suburbs which have recorded at least 10 sales over the 2015 calendar year.

At the end of 2015 there were 530 suburbs nationally with a median home value of more than $1 million, up from 406 suburbs at the end of 2014. This represents a 30.5% increase in suburbs with a median value of more than $1 million over the…

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