Million-dollar homes are increasingly commonplace in Australia, with new research showing roughly one in every three suburbs pack a median seven-figure price tag.
According to a new paper by Cotality, 195 suburbs have jumped into the exclusive club after strong housing market gains over the last 12 months.
In news likely to make first home-buyers weep over their cornflakes, 30 per cent of all sales in the last year were for $1 million or more.
Brisbane has had the most suburbs crash through the benchmark figure, with 38 joining the million-dollar pricetag club.
There are also 141 across regional Queensland with a median above $1 million.
The majority are on the Gold and Sunshine Coasts, but now include four Toowomba suburbs, Castle Hill in Townsville, and Cannon Valley, inland to Airlie Beach.
Australia’s new seven-figure suburbs:
Queensland: Capalaba, Boondall, Keperra, Oxley, Springwood, Murrumba Downs, Nerang, Pelican Waters, East Toowoomba.
NSW: Rooty Hill, Plumpton, Kingswood, Kembla Grange, Diamond Beach.
Victoria: Clayton South, Keilor Lodge, Taylors Lakes.
WA: Bouvard, Bayswater, Maylands, Jindalee, Margaret River, Chittering.
SA: Northgate, Morphettville, Plympton Park, Richmond, Warradale.
ACT: Fraser, Strathnairn, Kaleen, Casey, Monash.
AAP