A total of 32 suburbs punched through the million dollar ceiling for the first time and 14 suburbs re-entered, having fallen from grace in previous market dips, reports CoreLogic.
In total 149 of the 324 Brissie suburbs anaylsed – that’s 46 per cent – now have a median house price of $1 million or more.
Unit markets have yet to crack this milestone, despite strong growth. But New Farm is not far off with a current median value of $999,075.
For those in the market, or looking to cash in, this is great news, though new entrants need to know where to look for the lower price points – which can still be found, particularly in unit markets.
“The continued strong value growth seen across the South East Queensland corridor since COVID has arguably eroded much of the region’s previous affordability advantage,” writes CoreLogic.
“With a median dwelling value of $875,040, Brisbane is now the second most expensive capital city. Similarly, the Gold and Sunshine Coasts are now the most expensive regional areas, both with a median dwelling value over the $1 million mark.”
On Brisbane’s norths side, newcomers to the million dollar median list include:
- Banyo
- Brighton
- Carseldine
- Chermside
- Chermside West
- Everton Park
- Geebung
- Nudgee
- Ferny Grove
- Burpengary – East
- Eatons Hill
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