NSW is the jewel in the Australian crown when it comes to million dollar suburbs. More than half of Australia’s million dollar suburbs are located within the state and despite softening of the market in recent times, there is no doubt over the past 5 years that the “exclusive few” have ballooned to the “exclusive many”.
A swag of million dollar suburbs
Based on median house price data from Q1 2011, there are a total of 81 million dollar suburbs, with a further 40 knocking on the door of this now not so exclusive club.
In 2006 however only 34 suburbs recorded a median house price of one million dollars plus which shows a sharp 138% increase in the number of suburbs within the elite million dollar club.
Not only has the number of million dollar suburbs increased, so too have the number of properties attracting million plus price tags. In Q1 2006, a total of 1,525, million dollar sales were recorded, whilst in 2011 this has grown by 52% to 2,322.
Top 10 most expensive suburbs
At $4,350,000, Vaucluse’s median house price made the suburb most expensive in the country in March 2011. As one of Sydney’s exclusive bay-side suburbs, this has come as no surprise.
Rounding out the top 10 of million dollar suburbs in NSW, are those in and around the coast of Sydney. These include:
|Most Expensive||Suburb||Mar- 2011 Median|