{"id":826,"date":"2021-10-21T06:39:00","date_gmt":"2021-10-21T06:39:00","guid":{"rendered":"https:\/\/royabhishek.in\/urbanbuyer\/australias-3-million-suburb-club-has-doubled-again\/"},"modified":"2021-10-21T06:39:00","modified_gmt":"2021-10-21T06:39:00","slug":"australias-3-million-suburb-club-has-doubled-again","status":"publish","type":"post","link":"https:\/\/royabhishek.in\/urbanbuyer\/australias-3-million-suburb-club-has-doubled-again\/","title":{"rendered":"Australia\u2019s $3 million suburb club has doubled again"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p class=\"Text__Typography-zot5yv-0 iBYKpG StyledP-cebixd-0 hUfumb\"><strong>Australia\u2019s $3 million suburb club has doubled again in 2021 thanks to the housing market boom, as the luxury property market powers ahead during the pandemic.<\/strong><\/p>\n<p class=\"Text__Typography-zot5yv-0 iBYKpG StyledP-cebixd-0 hUfumb\">The hot pace of property price growth this year has led to more suburbs cracking the $3 million median house price, <a href=\"https:\/\/www.realestate.com.au\/news\/australias-3-million-suburbs-double-again-during-2021-boom-2\/\" target=\"_blank\" rel=\"noopener\">realestate.com.au senior economist Eleanor Creagh<\/a> said. <img fetchpriority=\"high\" decoding=\"async\" class=\"alignright size-medium wp-image-136417 img-responsive\" alt=\"Property 2\" width=\"300\" height=\"203\" sizes=\"(max-width: 300px) 100vw, 300px\" data-loading=\"lazy\" src=\"https:\/\/cdn.statically.io\/img\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2019\/08\/property-2-300x203.jpg?quality=70&amp;f=auto\" srcset=\"https:\/\/cdn.statically.io\/img\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2019\/08\/property-2-300x203.jpg?quality=70&amp;f=auto 300w,&#10;https:\/\/cdn.statically.io\/img\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2019\/08\/property-2-1024x692.jpg?quality=70&amp;f=auto 1024w,&#10;https:\/\/cdn.statically.io\/img\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2019\/08\/property-2-1160x784.jpg?quality=70&amp;f=auto 1160w,&#10;https:\/\/cdn.statically.io\/img\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2019\/08\/property-2.jpg?quality=70&amp;f=auto 2000w,&#10;\"\/>\u201cThe luxury market has continued to power full steam ahead in 2021<\/p>\n<blockquote>\n<p class=\"Text__Typography-zot5yv-0 iBYKpG StyledP-cebixd-0 hUfumb\">\u201cThe luxury market had a very strong year last year in 2020 and managed to shake off the recession, and this year has managed to shake off the Delta variant as well.\u201d Ms Creagh said.<\/p>\n<\/blockquote>\n<p>We know from Corelogic that <a href=\"https:\/\/propertyupdate.com.au\/australian-housing-market-surpasses-9-trillion-valuation\/\" target=\"_blank\" rel=\"noopener\">Australia\u2019s residential housing markets are now with more than $9 trillion<\/a>, up to $1 trillion in the last six months alone.<\/p>\n<p>But the more expensive end of our property markets has outperformed during the pandemic as record low interest-rate drive significant buyer demand and more Aussies are prioritising lifestyle and putting money into their homes rather than traveling overseas.<img decoding=\"async\" class=\"aligncenter size-full wp-image-157776 img-responsive\" alt=\"Chart1\" width=\"1142\" height=\"572\" sizes=\"(max-width: 1142px) 100vw, 1142px\" data-loading=\"lazy\" src=\"https:\/\/cdn.statically.io\/img\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/10\/chart1.jpg?quality=70&amp;f=auto\" srcset=\"https:\/\/cdn.statically.io\/img\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/10\/chart1.jpg?quality=70&amp;f=auto 1142w,&#10;https:\/\/cdn.statically.io\/img\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/10\/chart1-300x150.jpg?quality=70&amp;f=auto 300w,&#10;\"\/><\/p>\n<p class=\"Text__Typography-zot5yv-0 iBYKpG StyledP-cebixd-0 hUfumb\">According to realestate.com.au the number of suburbs with median house sale prices over $3 million doubled during 2020 and has\u00a0<a href=\"https:\/\/www.realestate.com.au\/news\/property-market-set-for-boom-year-number-of-3m-suburbs-to-double-in-2021\/\" target=\"_blank\" rel=\"noopener\">doubled again this year<\/a>\u00a0amid boom conditions in the overall housing market and the luxury sector.<\/p>\n<p class=\"Text__Typography-zot5yv-0 iBYKpG StyledP-cebixd-0 hUfumb\">Sydney suburbs account for all but a few of the 70 suburbs where the median house price is at or above $3 million.<\/p>\n<p><a href=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/10\/Screen-Shot-2021-10-18-at-12.59.34-pm.png\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-158128 img-responsive\" alt=\"3 million dollar club\" width=\"1160\" height=\"2017\" sizes=\"(max-width: 1160px) 100vw, 1160px\" data-loading=\"lazy\" src=\"https:\/\/cdn.statically.io\/img\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/10\/Screen-Shot-2021-10-18-at-12.59.34-pm-1160x2017.png?quality=70&amp;f=auto\" srcset=\"https:\/\/cdn.statically.io\/img\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/10\/Screen-Shot-2021-10-18-at-12.59.34-pm-1160x2017.png?quality=70&amp;f=auto 1160w,&#10;https:\/\/cdn.statically.io\/img\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/10\/Screen-Shot-2021-10-18-at-12.59.34-pm-173x300.png?quality=70&amp;f=auto 173w,&#10;https:\/\/cdn.statically.io\/img\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/10\/Screen-Shot-2021-10-18-at-12.59.34-pm-398x692.png?quality=70&amp;f=auto 398w,&#10;https:\/\/cdn.statically.io\/img\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/10\/Screen-Shot-2021-10-18-at-12.59.34-pm-883x1536.png?quality=70&amp;f=auto 883w,&#10;https:\/\/cdn.statically.io\/img\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/10\/Screen-Shot-2021-10-18-at-12.59.34-pm-1178x2048.png?quality=70&amp;f=auto 1178w,&#10;https:\/\/cdn.statically.io\/img\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/10\/Screen-Shot-2021-10-18-at-12.59.34-pm.png?quality=70&amp;f=auto 1372w,&#10;\"\/><\/a><\/p>\n<p style=\"text-align: center;\">Source: <a href=\"https:\/\/www.realestate.com.au\/news\/australias-3-million-suburbs-double-again-during-2021-boom-2\/\" target=\"_blank\" rel=\"noopener\">realestate.com.au<\/a><\/p>\n<h2 class=\"Text__Typography-zot5yv-0 jrJpnl Text__H2-zot5yv-2 StyledH2__CustomizedH2-sc-12hcrzy-0 ktqXPy jQUIib\" data-testid=\"customizedH2\">More coastal and lifestyle suburbs join the $3million club<\/h2>\n<p class=\"Text__Typography-zot5yv-0 iBYKpG StyledP-cebixd-0 hUfumb\">Ms. Creagh explains: <\/p>\n<blockquote>\n<p class=\"Text__Typography-zot5yv-0 iBYKpG StyledP-cebixd-0 hUfumb\">\u201cWhile the rapid increase in prices this year is the main reason so many suburbs have joined the $3 million club, buyers have also been looking for larger homes and a sea change during the pandemic and the latest lockdowns.<\/p>\n<p class=\"Text__Typography-zot5yv-0 iBYKpG StyledP-cebixd-0 hUfumb\">Coastal suburbs\u00a0like\u00a0Bondi Beach\u00a0($3.55 million median house sale price),\u00a0Curl Curl\u00a0($3.3 million) and\u00a0Coogee\u00a0($3.18 million) joined the club.<\/p>\n<p class=\"Text__Typography-zot5yv-0 iBYKpG StyledP-cebixd-0 hUfumb\">Many of the new entrants were also in Sydney\u2019s north.<\/p>\n<p class=\"Text__Typography-zot5yv-0 iBYKpG StyledP-cebixd-0 hUfumb\">Sydney\u2019s eastern suburbs historically had higher median prices, but the exceptional price growth recently had pushed more northern suburbs into the $3 million-plus category.\u201d<\/p>\n<\/blockquote>\n<p>Ms. Creagh said the COVID-driven desire for coastal living and holiday homes plus the continued growth in property prices were likely to see more suburbs cracking the $3 million medians.<\/p>\n<p><span style=\"color: #ff9900;\"><strong>ALSO READ:<\/strong><\/span> <a href=\"https:\/\/propertyupdate.com.au\/more-aussies-join-the-millionaire-club-as-australian-household-wealth-reaches-record-levels\/\" target=\"_blank\" rel=\"noopener\">More Aussies join the millionaire club as Australian household wealth reaches record levels<\/a><\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/propertyupdate.com.au\/australias-3-million-suburb-club-has-doubled-again\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Australia\u2019s $3 million suburb club has doubled again in 2021 thanks to the housing market boom, as the luxury property market powers ahead during the pandemic. The hot pace of property price growth this year has led to more suburbs cracking the $3 million median house price, realestate.com.au senior economist Eleanor Creagh said. \u201cThe [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":827,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,38],"tags":[],"class_list":["post-826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-property-investment"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Australia\u2019s $3 million suburb club has doubled again | Urban Buyer: Buyers Agent &amp; Advocates | Best Property Buyers For You<\/title>\n<meta name=\"description\" content=\"Australia\u2019s $3 million suburb club has doubled again in 2021 thanks to the housing market boom, as the luxury property market powers ahead during the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/royabhishek.in\/urbanbuyer\/australias-3-million-suburb-club-has-doubled-again\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Australia\u2019s $3 million suburb club has doubled again\" \/>\n<meta property=\"og:description\" content=\"Australia\u2019s $3 million suburb club has doubled again in 2021 thanks to the housing market boom, as the luxury property market powers ahead during the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/royabhishek.in\/urbanbuyer\/australias-3-million-suburb-club-has-doubled-again\/\" \/>\n<meta property=\"og:site_name\" content=\"Urban Buyer: Buyers Agent &amp; 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