RESIDENTIAL PROPERTY
THE number of Australian suburbs with a median house or unit value at or above the million-dollar mark has hit an all-time high, at 29.3%...
Over the year, the number of million-dollar suburbs increased by 18.5% or 218 markets, with 1,057 suburbs recording a median house value and 112-unit markets at a seven-figure median value...
At the onset of COVID, just 14.3% of house and unit markets had a median value at or above the $1 million mark,” said Kaytlin Ezzy, economist at CoreLogic...
At the same time, CoreLogic also found that almost 30% of all suburbs across Australia’s capitals and regional areas saw a loss in housing values over the past three months....
24 suburbs, including 20 house and four unit markets, with a median value above $990,000 currently recording positive quarterly value growth, since August this year...
Australia’s most expensive capital, Sydney with a median of $1,180,463, maintained the highest share of suburbs in the million-dollar club, with 46 new suburbs entering the club...
The positive flow of interstate migration, coupled with a continued undersupply of advertised listings as well as newly built housing stock, has seen Brisbane values rise 65.1% since the...
Such a significant increase in home values has eroded much of the city’s previous affordability advantage, with Brisbane now having the second highest median dwelling value...
Perth saw a 35 suburb increase over the year, with one suburb re-entering the list. With value increases across Perth ranged from a 1.8% rise in Marmion in ...
Despite recording the highest annual rise in dwelling values among the capitals and rest of state regions, Perth’s relatively low starting point resulted in fewer new seven- figure markets...
At the same time Melbourne and regional Victoria recorded a decline in dwelling values of 1.0% over the last year...
A household would now need an annual income close to $200,000 to keep repayments on a $1 million home under 30% of their income, with a $800,000 loan balance and...
Despite the increase in the number of million-dollar markets, borrowers are dedicating more of their income towards servicing their mortgage...