Melbourne property: millionaire suburbs
05 August 2016 by News DeskMelbourne property: in 2015 there were 67 suburbs with million dollar homes and 53 in 2014.
Melbourne property has since risen in value to the point where this year another 36 suburbs have seen average house prices reach more than $1 million.
There are now 102 suburbs across Melbourne where average house prices are $1 million or more.
Strathmore, Heidelberg and Parkdale are among Melbourne’s latest
Toorak is the only Victorian suburb among Australia’s top 25 most expensive with average house prices around $3,756,000.
There were no Victorian suburbs with a median unit value above $1 million, compared to 39 in NSW.
Melbourne property: millionaire suburbs
There were 613 suburbs nationally that posted median values above $1 million, more than half of them from NSW.
House prices in Melbourne may now be rising at a slower rate but industry observers say the city’s ‘millionaire club’ will continue to grow.
By 2017 even more suburbs are expected to have reached an average house price of at least $1 million.
Across the country the number of suburbs with million-dollar median values rose 125 per cent over the past three years.
Melbourne property: millionaire suburbs
ABBOTSFORD: $1,156,756
BLACKBURN: $1,152,499
BOX HILL: $1,266,453
DONCASTER: $1,199,207
FLINDERS: $1,003,974
GLEN WAVERLEY: $1,148,236
NORTHCOTE: $1,125,515
PARKDALE: $1,040,892
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