Shona Stephenson 30/9/24 Shona Stephenson 30/9/24

CoreLogic - Australian Million Dollar Markets. Is your suburb there?

Thank you, CoreLogic Australia Economist Kaytlin Ezzy and CoreLogic Australia Team, for sharing the comprehensive data and insights from the CoreLogic Million-Dollar Markets report as of June 2024 with the entire THE EXPATRIATE Community. We’ve put together some key points from the report. We hope you like them.

In August, 29.3% of Australian suburbs had a median house or unit value of $1 million, including 3,426 homes and 1,346 units from 4,772 suburbs. This is an increase from 21.7% in January 2023. The current percentage exceeds the 26.9% recorded in April 2022 at the last market peak. Despite high interest rates, low consumer confidence, and declining affordability, Australia's housing market has remained resilient over the past 18 months, with home values steadily rising since November 2023.