Rapidly rising real estate prices have forced more than 160 suburbs and cities across the country into the million-dollar club in the past year.
Queensland recorded the highest number of locations with average house prices crossing the seven-figure threshold, with 51 in metropolitan and regional areas, the latest PropTrack data shows.
NSW was close behind with 41, followed by WA with 39, SA with 31 and Victoria with three.
There are now more than 1,500 suburbs and cities across the country with a median home price of $1 million or more.
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More than 160 suburbs and cities across the country have joined the multimillion-dollar club in the past year. Photo: Jake Nowakowski.
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Industry leaders say several key factors were driving price growth – and would continue to do so into the new year.
REA Group senior economist Anne Flaherty said that while prices had fallen in some areas, they had risen in even more, with overall prices rising in every capital.
She said the participants in the exclusive multimillion-dollar group were broad.
“What’s really interesting to see is that there’s a wide variety of suburbs,” she said.
“Overall, we expect property prices to continue to rise in 2026, but we do not predict the same level of growth.”
Ms Flaherty said interest rates and government incentives, including the government’s 5 per cent deposit scheme for first home buyers, played a big role in the price rises.
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Senior economist Anne Flaherty of the REA Group.
“It looks like interest rates will now remain stable for longer,” she said.
The introduction of the 5 percent deposit scheme also caused prices to rise in cheaper areas, she said, raising big questions about affordability and what that looked like going forward.
“Less than one in five homes are now considered affordable in a middle-income household,” Ms Flaherty said.
Nerida Conisbee, chief economist for the Ray White Group, said many first-home buyers were forced to offer the highest amount they could before reaching their state’s limit to secure a home in areas considered cheap, ultimately making them unaffordable.
“We have seen incredibly strong growth at that end of the market and a lot of that is driven by the expanded first home buyer programme,” she said.
“I know why people love that 5 percent deposit scheme, but it just makes it worse.
“It’s also very expensive to build houses now, which is pushing people into the established market.”
Ms Conisbee said more growth is expected in 2026, with the cheaper end of the market likely to continue to outperform other areas.
Ray White Chief Economist Nerida Conisbee.
New multi-million dollar suburbs by 2025
(Suburb, state, current median sales price, first month over $1 million median)
Bardia, NSW – $1,002 million, January 2025
Blair Athol, NSW – $1.075 million, November 2024
Bonnyrigg, NSW – $1.17 million, November 2024
Calderwood, NSW – $1,004,500, October 2025
Camden South, NSW – $1.02 million July 2025
Carramar, NSW – $1,075 million, April 2025
Colo Vale, NSW – $1,165 million, July 2025
Crangan Bay, NSW – $1.175 million, February 2025
Donside, NSW – $1.01 million, May 2025
Faulconbridge, NSW – $1,035 million, June 2025
Gregory Hills, NSW – $1.05 million, March 2025
Gulmarrad, NSW – $1.02 million, August 2025
Hassall Grove, NSW – $1 million, September 2025
Ingleburn, NSW – $1,035 million, August 2025
Jewels, NSW – $1.05 million, September 2025
Jordan Springs, NSW – $1,025 million, July 2025
Kariong, NSW – $1.08 million, May 2025
Kingswood, NSW – $1 million, October 2025
Kotara South, NSW – $1,015 million, November 2024
Lalor Park, NSW – $1.07 million, February 2025
Lurnea, NSW – $1.05 million, May 2025
Mayfield East, NSW – $1,068,500, July 2025
Narara, NSW – $1.05 million, September 2025
Narellan, NSW – $1.02 million, May 2025
Narellan Vale, NSW – $1.065 million, April 2025
North Arm Cove, NSW – $1 million, February 2025
North Narooma, NSW – $1.06 million, May 2025
Rooty Hill, NSW – $1,026 million, March 2025
South Penrith, NSW – $1.051 million, May 2025
Spring Farm, NSW – $1.07 million, January 2025
St Clair, NSW – $1.12 million, November 2024
St Marys, NSW – $1,031 million, July 2025
Tweed Heads South, NSW – $1.1 million, May 2025
Uki, NSW – $1.13 million, May 2025
Warners Bay, NSW – $1.08 million, May 2025
Werington, NSW – $1,002,500, September 2025
Werington County, NSW – $1,002,500, October 2025
Werington Downs, NSW – $1,055 million, August 2025
Winmalee, NSW – $1,035,500, September 2025
Woodcroft, NSW – $1.07 million, March 2025
Wyee, NSW – $1,015 million, August 2025
Arana Hills, QLD – $1,075 million, January 2025
Bannockburn, QLD – $1.13 million, February 2025
Banyo, Queensland – $1,087,500, April 2025
Barellan Point, QLD – $1 million, May 2025
Battery Hill, QLD – $1.08 million, March 2025
Beecher, Queensland – $1,017,500, October 2025
Birtinya, QLD – $1,167 million, November 2024
Bli Bli, QLD – $1.1 million, April 2025
Blue Mountain Heights, QLD – $1 million, January 2025
Brighton, QLD – $1.14 million, January 2025
Canungra, Queensland – $1.05 million, July 2025
Cedar Vale, QLD – $1,035 million, September 2025
Conondale, Queensland – $1,072,500, November 2024
Coopers Plains, QLD – $1.07 million, February 2025
Currimundi, Queensland – $1,002,875, September 2025
Daisy Hill, Queensland – $1,037,500, February 2025
Dayboro, Queensland – $1.16 million, December 2024
Everton Hills, QLD – $1.1 million, January 2025
Ferny Hills, Queensland – $1.04 million, June 2025
Forest Glen, Queensland – $1,087,500, January 2025
Gheerulla, Queensland – $1,005 million, October 2025
Glass House Mountains, Queensland – $1,079,020, July 2025
Heathwood, QLD – $1,052,500, December 2024
Hemmant, Queensland – $1,042,500, April 2025
Hodgson Vale, QLD – $1.18 million, July 2025
Jimboomba, QLD – $1,091 million, April 2025
Kensington Grove, Queensland – $1.029 million, September 2025
Keperra, Queensland – $1,042,500, July 2025
Kuluin, QLD – $1.01 million, October 2025
Marburg, Queensland – $1.05 million, July 2025
Middle Ridge, QLD – $1 million, July 2025
Mount Cotton, Queensland – $1,085, May 2025
Murrumba Downs, Queensland – $1,042,500, June 2025
North Maclean, Queensland – $1.225 million, November 2024
North Ward, Queensland – $1,187,500, December 2024
Oxenford, QLD – $1,115 million, February 2025
Pacific Pines, QLD – $1,111 million, January 2025
Palmwoods, Queensland – $1.05 million, December 2024
Pomona, Queensland – $1.16 million, November 2024
Redland Bay, QLD – $1,025 million, August 2025
Rockyview, Queensland – $1.04 million, October 2025
Runcorn, Queensland – $1.01 million, October 2025
Scarborough, Queensland – $1.15 million, December 2024
Sunshine Acres, QLD – $1.1 million, November 2024
Thornlands, QLD – $1.11 million, February 2025
Underwood, Queensland – $1.103 million, November 2024
Victoria Point, Queensland – $1,038,250, June 2025
Warner, QLD – $1,025 million, September 2025
Woombye, QLD – $1 million, June 2025
Woorim, QLD – $1,050,250, February 2025
Wynnum West, QLD – $1,121 million, March 2025
Adelaide, SA – $1.01 million, October 2025
Allenby Gardens, SA – $1,077,500, November 2024
Bellevue Heights, SA – $1,035 million, June 2025
Blackwood, SA – $1,055 million, May 2025
Broadview, SA – $1.04 million, March 2025
Clapham, SA – $1,289 million, November 2024
Eden Hills, SA – $1.09 million, September 2025
Flinders Park, SA – $1.08 million, February 2025
Gawler Belt, SA – $1.1 million, June 2025
Gulfview Heights, SA – $1,015 million, September 2025
Hampstead Gardens, SA – $1,012,500, May 2025
Hawthorndene, SA – $1,121,500, July 2025
Hectorville, SA – $1.08 million, March 2025
Kidman Park, SA – $1.19 million, November 2024
Littlehampton, SA – $1 million, September 2025
Marden, SA – $1.36 million, December 2024
Melrose Park, SA – $1,049 million, February 2025
Mile End, SA – $1.05 million, February 2025
North Plympton, SA – $1.02 million, September 2025
Ovingham, SA – $1,005 million, May 2025
Finanama, – $1,192,500, Dec
Plympton ParkSA$1,050,000, August 2025
Rostrevor, SA – $1,072,500 January 2025
South Plympton, SA – $1,005 million, October 2025
Torrensville, SA – $1,055 million, November 2024
Underdale, SA – $1.09 million, April 2025
Upper Sturt, SA – $1.15 million, January 2025
Walkley Heights, SA – $1.01 million, September 2025
Warradale, SA – $1,147 million, April 2025
Welland, SA – $1,032,500, January 2025
Woodville, SA – $1.2 million, April 2025
Bittern, VIC – $1.11, January 2025
Carrum, VIC – $1,025 million, May 2025
Gembrook, VIC – $1,012,300, March 2025
Abbey, WA – $1.55 million, November 2024
Barragup, WA – $1,222,500, November 2024
Bayswater, WA – $1.08 million, May 2025
Bedford, WA – $1,025 million April 2025
Bouvard, WA – $1,095 million, December 2024
Brentwood, WA – $1,187,500, May 2025
Bushmead, WA – $1.05 million, August 2025
Carmel, WA – $1.55 million, November 2024
Cowaramup, WA – $1,065, January 2025
Darch, WA – $1 million, June 2025
Dardanup West, WA – $1.01 million, August 2025
Hello, WA – $1.02 million, July 2025
East Victoria Park, WA – $1,065,500, April 2025
Gelorup, WA – $1 million, September 2025
Hilton, WA – $1,021,600, September 2025
Jarrahdale, wa – $1.05 million, April
The Joondan, WA – $1,042,500, March 2025
Public, WA – $1,077,500, June 2025
Kardinya, WA – $1.1 million, March 2025
Kingsley, WA – $1,046 million, April 2025
Lake Clubker, Time – $1.25 million, January 2055
Lake Coogee, WA – $1,045 million, March 2025
Lathlain, WA – $1.2 million, January 2025
Lesmurdie, WA – $1.12 million, May 2025
Lower Chittering, WA – $1.16 million, January 2025
Madeley, WA – $1 million, July 2025
Maylands, Wa – $1,153,500, Mar
Mundaring, WA – $1.05 million, November 2024
North Lake, WA – $1,005 million, December 2024
North Yunderup, WA – $1,035, August 2025
Padbury, Wa – $1.01 million, October
Parkerville, WA – $1.1 million, January 2025
Roleystone, WA – $1 million, October 2025
Samson, WA – $1.02 million, July 2025
Serpentine, WA – $1.2 million, April 2025
The Vines, WA – $1,065 million, December 2024
Woodbridge, WA – $1.06 million, July 2025
Woodvale, WA – $1,152,500, January 2025
Yokine, WA – $1.02 million, March 2025
Source: PropTrack (data is up to October 2025)
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