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QLD’s elite million dollar club at a stand still



Most Expensive Suburbs QLD 2011Whilst other major states of Australia, such as New South Wales and Victoria have seen the number of million dollar suburbs balloon over the past 5 years, the exclusive million dollar club in Queensland has remained a tight nit group.  In 2006 the number of million dollar suburbs in Queensland totalled 7 and despite rising to 13 in 2007, it has since declined to equal that of 5 years ago.

Million Dollar Shuffle

Queensland’s million-dollar suburb list used to comprise predominately of Gold Coast suburbs however more Brisbane suburbs such as Hamilton, Ascot, New Farm and St Lucia now often feature in the million dollar club.

In fact when comparing current million dollar suburbs with 2006, only two of the seven, have remained within the million dollar elite which are Sovereign Island and Surfers Paradise.  So popular is Sovereign Island in particular that it has remained at the top of the million dollar list for the past 5 years.

 

The top seven million dollar suburbs then and now include:

 

St. Lucia

Most Expensive Suburb Mar- 2011 Median Mar- 2006 Median
1 Sovereign Island $2,090,000 $1,762,500
2 Bahrs Scrub $1,652,750 N/A
3 Surfers Paradise $1,510,000 $1,360,000
4  Paradise Point $1,325,000 N/A
5  New Farm $1,320,000 N/A
6     Sunshine Beach $1,055,000 N/A
7 Bulimba $1,030,000 N/A
8 N/A $1,360,000
9  Gumdale N/A $1,200,000
10 Brookfield N/A $1,167,500
11 Mermaid Beach N/A $1,150,000
12 Minyama N/A $1,030,000

 

Aside from those surpassing the million dollar mark, a further three suburbs are knocking on the door with medians in excess of $900,000. Therefore it is anticipated that Queensland’s million dollar club will substantially rise in the coming years.