{"id":1346,"date":"2021-12-28T08:14:43","date_gmt":"2021-12-28T08:14:43","guid":{"rendered":"https:\/\/royabhishek.in\/urbanbuyer\/property-updatethese-suburbs-joined-the-million-dollar-club-in-melbourne\/"},"modified":"2021-12-28T08:14:43","modified_gmt":"2021-12-28T08:14:43","slug":"property-updatethese-suburbs-joined-the-million-dollar-club-in-melbourne","status":"publish","type":"post","link":"https:\/\/royabhishek.in\/urbanbuyer\/property-updatethese-suburbs-joined-the-million-dollar-club-in-melbourne\/","title":{"rendered":"Property UpdateThese suburbs joined the million dollar club in Melbourne"},"content":{"rendered":"

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In 2021 we experienced a once-in-a-generation property boom that resulted in almost 400 suburbs joining the million-dollar club.<\/strong><\/p>\n

In other words, their median price was over $1 million<\/p>\n

Based on CoreLogic data published in The Australian<\/a> there were 67 Victorian suburbs where median dwelling values have risen above $1 million this year.<\/p>\n

While Melbourne\u2019s median property value increased by 16.3% over the last year, as you\u2019ll see in the table below, property values in some top-performing suburbs increased by more than 30, 40, and even 50%.<\/p>\n

A number of these were around Geelong and the Surf Coast region.<\/p>\n

Across the sub-regions of Melbourne, the Mornington Peninsula stands out as the strongest market by some margin with housing values up 30.2% over the past year, the second-highest annual growth rate is recorded across the Outer East where values were up 19.2%.<\/p>\n

\"Melb02\"\"Melb01\"<\/p>\n

Here are the Greater Melbourne suburbs that joined the million dollar club.<\/h2>\n

\u00a0<\/p>\n\n\n\n<\/tr>\n<\/thead>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Mornington Peninsula <\/span><\/td>\nSt Andrews Beach<\/span><\/td>\n$1,470,912<\/span><\/td>\n$928,601<\/span><\/td>\n58.4%<\/span><\/td>\nFeb-21<\/span><\/td>\n<\/tr>\n
Mornington Peninsula <\/span><\/td>\nRye<\/span><\/td>\n$1,194,989<\/span><\/td>\n$838,057<\/span><\/td>\n42.6%<\/span><\/td>\nMay-21<\/span><\/td>\n<\/tr>\n
Mornington Peninsula <\/span><\/td>\nTootgarook<\/span><\/td>\n$1,057,968<\/span><\/td>\n$758,898<\/span><\/td>\n39.4%<\/span><\/td>\nSep-21<\/span><\/td>\n<\/tr>\n
Mornington Peninsula <\/span><\/td>\nDromana<\/span><\/td>\n$1,022,329<\/span><\/td>\n$752,452<\/span><\/td>\n35.9%<\/span><\/td>\nNov-21<\/span><\/td>\n<\/tr>\n
Mornington Peninsula <\/span><\/td>\nMccrae<\/span><\/td>\n$1,046,228<\/span><\/td>\n$791,590<\/span><\/td>\n32.2%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
Mornington Peninsula <\/span><\/td>\nFrankston South<\/span><\/td>\n$1,110,739<\/span><\/td>\n$873,608<\/span><\/td>\n27.1%<\/span><\/td>\nJun-21<\/span><\/td>\n<\/tr>\n
Mornington Peninsula <\/span><\/td>\nSafety Beach<\/span><\/td>\n$1,161,840<\/span><\/td>\n$914,694<\/span><\/td>\n27.0%<\/span><\/td>\nMay-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Inner South <\/span><\/td>\nPatterson Lakes<\/span><\/td>\n$1,084,602<\/span><\/td>\n$862,953<\/span><\/td>\n25.7%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 North East <\/span><\/td>\nViewbank<\/span><\/td>\n$1,240,095<\/span><\/td>\n$991,029<\/span><\/td>\n25.1%<\/span><\/td>\nFeb-21<\/span><\/td>\n<\/tr>\n
Mornington Peninsula <\/span><\/td>\nMornington<\/span><\/td>\n$1,078,528<\/span><\/td>\n$865,077<\/span><\/td>\n24.7%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Outer East <\/span><\/td>\nCroydon Hills<\/span><\/td>\n$1,175,382<\/span><\/td>\n$942,993<\/span><\/td>\n24.6%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Inner South <\/span><\/td>\nCheltenham<\/span><\/td>\n$1,108,529<\/span><\/td>\n$892,151<\/span><\/td>\n24.3%<\/span><\/td>\nMay-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 North East <\/span><\/td>\nYallambie<\/span><\/td>\n$1,105,210<\/span><\/td>\n$890,161<\/span><\/td>\n24.2%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Inner South <\/span><\/td>\nHeatherton<\/span><\/td>\n$1,106,631<\/span><\/td>\n$893,342<\/span><\/td>\n23.9%<\/span><\/td>\nMay-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Outer East <\/span><\/td>\nDonvale<\/span><\/td>\n$1,223,912<\/span><\/td>\n$990,882<\/span><\/td>\n23.5%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Inner South <\/span><\/td>\nParkdale<\/span><\/td>\n$1,229,573<\/span><\/td>\n$995,498<\/span><\/td>\n23.5%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Inner South <\/span><\/td>\nHighett<\/span><\/td>\n$1,059,461<\/span><\/td>\n$861,022<\/span><\/td>\n23.0%<\/span><\/td>\nAug-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 South East <\/span><\/td>\nMulgrave<\/span><\/td>\n$1,065,323<\/span><\/td>\n$866,386<\/span><\/td>\n23.0%<\/span><\/td>\nJul-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 North East <\/span><\/td>\nWattle Glen<\/span><\/td>\n$1,152,981<\/span><\/td>\n$938,294<\/span><\/td>\n22.9%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Inner South <\/span><\/td>\nChelsea Heights<\/span><\/td>\n$1,019,763<\/span><\/td>\n$830,018<\/span><\/td>\n22.9%<\/span><\/td>\nSep-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Outer East <\/span><\/td>\nWantirna<\/span><\/td>\n$1,124,184<\/span><\/td>\n$915,363<\/span><\/td>\n22.8%<\/span><\/td>\nMay-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Outer East <\/span><\/td>\nRowville<\/span><\/td>\n$1,067,646<\/span><\/td>\n$869,589<\/span><\/td>\n22.8%<\/span><\/td>\nJul-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Outer East <\/span><\/td>\nScoresby<\/span><\/td>\n$1,031,251<\/span><\/td>\n$846,868<\/span><\/td>\n21.8%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Outer East <\/span><\/td>\nWantirna South<\/span><\/td>\n$1,188,105<\/span><\/td>\n$981,158<\/span><\/td>\n21.1%<\/span><\/td>\nMar-21<\/span><\/td>\n<\/tr>\n
Mornington Peninsula <\/span><\/td>\nSandhurst<\/span><\/td>\n$1,003,746<\/span><\/td>\n$829,060<\/span><\/td>\n21.1%<\/span><\/td>\nNov-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 South East <\/span><\/td>\nEmerald<\/span><\/td>\n$1,035,456<\/span><\/td>\n$855,456<\/span><\/td>\n21.0%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 North East <\/span><\/td>\nSt Helena<\/span><\/td>\n$1,188,327<\/span><\/td>\n$985,750<\/span><\/td>\n20.6%<\/span><\/td>\nMar-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Inner South <\/span><\/td>\nEdithvale<\/span><\/td>\n$1,062,865<\/span><\/td>\n$884,742<\/span><\/td>\n20.1%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Outer East <\/span><\/td>\nFerny Creek<\/span><\/td>\n$1,143,415<\/span><\/td>\n$955,440<\/span><\/td>\n19.7%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Outer East <\/span><\/td>\nForest Hill<\/span><\/td>\n$1,160,732<\/span><\/td>\n$970,318<\/span><\/td>\n19.6%<\/span><\/td>\nMar-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Outer East <\/span><\/td>\nKnoxfield<\/span><\/td>\n$1,007,014<\/span><\/td>\n$842,700<\/span><\/td>\n19.5%<\/span><\/td>\nNov-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 North East <\/span><\/td>\nDiamond Creek<\/span><\/td>\n$1,047,589<\/span><\/td>\n$876,720<\/span><\/td>\n19.5%<\/span><\/td>\nSep-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Outer East <\/span><\/td>\nNunawading<\/span><\/td>\n$1,150,014<\/span><\/td>\n$963,461<\/span><\/td>\n19.4%<\/span><\/td>\nMar-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Outer East <\/span><\/td>\nMount Dandenong<\/span><\/td>\n$1,058,470<\/span><\/td>\n$887,759<\/span><\/td>\n19.2%<\/span><\/td>\nJul-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Outer East <\/span><\/td>\nCroydon North<\/span><\/td>\n$1,061,523<\/span><\/td>\n$892,260<\/span><\/td>\n19.0%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Outer East <\/span><\/td>\nKalorama<\/span><\/td>\n$1,031,013<\/span><\/td>\n$867,759<\/span><\/td>\n18.8%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 West <\/span><\/td>\nSeddon<\/span><\/td>\n$1,143,052<\/span><\/td>\n$963,315<\/span><\/td>\n18.7%<\/span><\/td>\nFeb-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Outer East <\/span><\/td>\nMitcham<\/span><\/td>\n$1,074,269<\/span><\/td>\n$906,002<\/span><\/td>\n18.6%<\/span><\/td>\nMay-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 North West <\/span><\/td>\nMacedon<\/span><\/td>\n$1,107,650<\/span><\/td>\n$935,628<\/span><\/td>\n18.4%<\/span><\/td>\nFeb-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Outer East <\/span><\/td>\nHeathmont<\/span><\/td>\n$1,074,836<\/span><\/td>\n$910,383<\/span><\/td>\n18.1%<\/span><\/td>\nMay-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Outer East <\/span><\/td>\nOlinda<\/span><\/td>\n$1,103,920<\/span><\/td>\n$938,050<\/span><\/td>\n17.7%<\/span><\/td>\nMay-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 South East <\/span><\/td>\nHuntingdale<\/span><\/td>\n$1,124,355<\/span><\/td>\n$959,002<\/span><\/td>\n17.2%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 West <\/span><\/td>\nNewport<\/span><\/td>\n$1,077,239<\/span><\/td>\n$922,271<\/span><\/td>\n16.8%<\/span><\/td>\nFeb-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 South East <\/span><\/td>\nDingley Village<\/span><\/td>\n$1,067,675<\/span><\/td>\n$914,576<\/span><\/td>\n16.7%<\/span><\/td>\nJun-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Inner East <\/span><\/td>\nMont Albert<\/span><\/td>\n$1,153,608<\/span><\/td>\n$988,733<\/span><\/td>\n16.7%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Inner East <\/span><\/td>\nDoncaster<\/span><\/td>\n$1,036,008<\/span><\/td>\n$889,000<\/span><\/td>\n16.5%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 North West <\/span><\/td>\nCoburg North<\/span><\/td>\n$1,008,962<\/span><\/td>\n$867,786<\/span><\/td>\n16.3%<\/span><\/td>\nNov-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Inner <\/span><\/td>\nCoburg<\/span><\/td>\n$1,153,458<\/span><\/td>\n$994,782<\/span><\/td>\n16.0%<\/span><\/td>\nFeb-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 South East <\/span><\/td>\nOakleigh South<\/span><\/td>\n$1,075,345<\/span><\/td>\n$931,778<\/span><\/td>\n15.4%<\/span><\/td>\nApr-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 West <\/span><\/td>\nYarraville<\/span><\/td>\n$1,072,174<\/span><\/td>\n$929,372<\/span><\/td>\n15.4%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 South East <\/span><\/td>\nChadstone<\/span><\/td>\n$1,024,557<\/span><\/td>\n$889,847<\/span><\/td>\n15.1%<\/span><\/td>\nJun-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 North West <\/span><\/td>\nAvondale Heights<\/span><\/td>\n$1,007,647<\/span><\/td>\n$877,987<\/span><\/td>\n14.8%<\/span><\/td>\nNov-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 North West <\/span><\/td>\nNiddrie<\/span><\/td>\n$1,118,035<\/span><\/td>\n$976,389<\/span><\/td>\n14.5%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Outer East <\/span><\/td>\nBelgrave South<\/span><\/td>\n$1,072,086<\/span><\/td>\n$940,614<\/span><\/td>\n14.0%<\/span><\/td>\nMay-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 Inner <\/span><\/td>\nPort Melbourne<\/span><\/td>\n$1,092,838<\/span><\/td>\n$967,476<\/span><\/td>\n13.0%<\/span><\/td>\nDec-20<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 North West <\/span><\/td>\nKeilor<\/span><\/td>\n$1,006,920<\/span><\/td>\n$896,558<\/span><\/td>\n12.3%<\/span><\/td>\nNov-21<\/span><\/td>\n<\/tr>\n
Melbourne \u2013 West <\/span><\/td>\nSpotswood<\/span><\/td>\n$1,074,168<\/span><\/td>\n$974,424<\/span><\/td>\n10.2%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Source: CoreLogic<\/a><\/em><\/p>\n

Here are the regional Victorian suburbs that joined the million dollar club.<\/h2>\n\n\n\n<\/tr>\n<\/thead>\n\n\n\n\n\n\n\n\n\n\n\n
Ballarat<\/span><\/td>\nTrentham<\/span><\/td>\n$1,015,465<\/span><\/td>\n$814,601<\/span><\/td>\n24.7%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
Ballarat<\/span><\/td>\nSmythes Creek<\/span><\/td>\n$1,017,593<\/span><\/td>\n$884,733<\/span><\/td>\n15.0%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
Geelong<\/span><\/td>\nOcean Grove<\/span><\/td>\n$1,122,099<\/span><\/td>\n$831,094<\/span><\/td>\n35.0%<\/span><\/td>\nJun-21<\/span><\/td>\n<\/tr>\n
Geelong<\/span><\/td>\nTorquay<\/span><\/td>\n$1,285,404<\/span><\/td>\n$962,946<\/span><\/td>\n33.5%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
Geelong<\/span><\/td>\nQueenscliff<\/span><\/td>\n$1,194,021<\/span><\/td>\n$941,318<\/span><\/td>\n26.8%<\/span><\/td>\nJun-21<\/span><\/td>\n<\/tr>\n
Geelong<\/span><\/td>\nNewtown<\/span><\/td>\n$1,140,413<\/span><\/td>\n$919,716<\/span><\/td>\n24.0%<\/span><\/td>\nMay-21<\/span><\/td>\n<\/tr>\n
Geelong<\/span><\/td>\nWandana Heights<\/span><\/td>\n$1,005,624<\/span><\/td>\n$813,222<\/span><\/td>\n23.7%<\/span><\/td>\nNov-21<\/span><\/td>\n<\/tr>\n
Geelong<\/span><\/td>\nFyansford<\/span><\/td>\n$1,062,229<\/span><\/td>\n$889,150<\/span><\/td>\n19.5%<\/span><\/td>\nAug-21<\/span><\/td>\n<\/tr>\n
Latrobe \u2013 Gippsland<\/span><\/td>\nNyora<\/span><\/td>\n$1,123,242<\/span><\/td>\n$874,478<\/span><\/td>\n28.4%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n
Warrnambool and South West<\/span><\/td>\nMarengo<\/span><\/td>\n$1,089,208<\/span><\/td>\n$812,883<\/span><\/td>\n34.0%<\/span><\/td>\n\u00a0<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Source: CoreLogic<\/a><\/em><\/p>\n

ALSO READ: <\/strong><\/span>The best suburbs to invest in Melbourne in 2022<\/a><\/p>\n<\/p><\/div>\n\n

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About Kate Forbes<\/a><\/p>\n

Kate Forbes is a National Director Property Strategy at Metropole. She has 15 years of investment experience in financial markets in two continents, is qualified in multiple disciplines and is also a chartered financial analyst (CFA).
Visit Metropole Melbourne<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n\n<\/div>\n

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[ad_1] In 2021 we experienced a once-in-a-generation property boom that resulted in almost 400 suburbs joining the million-dollar club. In other words, their median price was over $1 million Based on CoreLogic data published in The Australian there were 67 Victorian suburbs where median dwelling values have risen above $1 million this year. While Melbourne\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":1347,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,127],"tags":[],"class_list":["post-1346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-property-investment-negotiation"],"yoast_head":"\nProperty UpdateThese suburbs joined the million dollar club in Melbourne | Urban Buyer: Buyers Agent & Advocates | Best Property Buyers For You<\/title>\n<meta name=\"description\" content=\"In 2021 we experienced a once-in-a-generation property boom that resulted in almost 400 suburbs joining the million-dollar club. 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