166 suburbs tipped to join the million-dollar club
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A million-dollar median property price is a major milestone for any suburb in Australia, and plenty are right on the brink.
With national home values at an all-time high, there are currently more than 1,400 suburbs boasting a price tag of over $1 million. Which locations are going to be next?
Recent analysis from PropTrack runs through the 166 suburbs around the country that are projected to break through the threshold within the next 12 months.
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Sydney and New South Wales
NSW is currently the state with the highest number of million-dollar markets as 672 suburbs have a seven-figure median property price.
Based on growth trends over the past decade, PropTrack projects another 70 NSW suburbs making the leap up to the million-dollar club within the next year.
Of that batch, 57 per cent are located within Greater Sydney.
Top 5 NSW suburbs projected to join the million-dollar club in the next 12 months
| Suburb | Avg 10-year growth | Current median price | Projected price in 2025 |
|---|---|---|---|
| Lansvale, 2166 | 6% | $950,000 | $1,006,169 |
| Jordan Springs, 2747 | 6% | $945,000 | $1,001,956 |
| Elderslie, 2570 | 6% | $950,000 | $1,007,670 |
| Gregory Hills, 2557 | 6% | $947,500 | $1,005,647 |
| Fern Bay, 2295 | 6% | $943,000 | $1,001,594 |
Among the most likely to hit their target are Lansvale in Sydney's southwest, Jordan Springs in the city's far west, and the beachfront Fern Bay in Port Stephens.
You can find PropTrack's full list of suburbs here.
Melbourne and Victoria
The median property price for Melbourne as a whole currently sits at just over $800,000 according to PropTrack, but there are 246 suburbs across the city and state where that figure is above seven figures.
PropTrack's projections have another 23 Victorian suburbs set to join the illustrious club over the next 12 months, with two-thirds of those located within Melbourne.
Top 5 VIC suburbs projected to join the million-dollar club in the next 12 months
| Suburb | Avg 10-year growth | Current median price | Projected price in 2025 |
|---|---|---|---|
| Ringwood, 3134 | 5% | $999,500 | $1,053,099 |
| Yallambie, 3085 | 6% | $963,500 | $1,021,852 |
| Wandana Heights, 3216 | 6% | $998,000 | $1,058,659 |
| Avondale Heights, 3034 | 6% | $960,000 | $1,018,431 |
| Airport West, 3042 | 6% | $960,000 | $1,021,081 |
PropTrack's top five includes Ringwood in Melbourne's east, which is tantalisingly close to the $1 million mark, as well as Yallambie, Avondale Heights, and the Geelong suburb of Wandana Heights.
You can find PropTrack's full list of suburbs here.
Brisbane and Queensland
It's been a stellar few years for Queensland's property markets as strong growth has lifted Brisbane up to become Australia's second-most expensive city.
Mid-way through 2024 there are now 268 suburbs across the state with a median price above $1 million, and two-thirds of those can be found in Brisbane.
PropTrack's projections based on the past ten years of data show that we could expect another 37 suburbs to join the million-dollar club over the next 12 months.
Top 5 QLD suburbs projected to join the million-dollar club in the next 12 months
| Suburb | Avg 10-year growth | Current median price | Projected price in 2025 |
|---|---|---|---|
| Birtinya, 4575 | 5% | $972,500 | $1,023,333 |
| Eatons Hill, 4035 | 6% | $995,000 | $1,057,537 |
| Moggill, 4070 | 7% | $955,000 | $1,018,494 |
| Middle Park, 4074 | 7% | $960,000 | $1,024,021 |
| Carseldine, 4034 | 7% | $997,500 | $1,066,355 |
Among the top five expected are Eatons Hill and Carseldine in Brisbane's north, Moggill and Middle Park in the west, and the Sunshine Coast's Birtinya.
You can find PropTrack's full list of suburbs here.
Adelaide and South Australia
Strong and consistent growth has been the post-pandemic trend for Adelaide as prices have shot up more than +60 per cent over the past four years.
That's brought the state's total for suburbs above a $1 million median price up to 108, and PropTrack sees that figure increasing by another 13 over the next 12 months.
Top 5 SA suburbs projected to join the million-dollar club in the next 12 months
| Suburb | Avg 10-year growth | Current median price | Projected price in 2025 |
|---|---|---|---|
| Clapham, 5062 | 5% | $961,000 | $1,012,668 |
| Magill, 5072 | 6% | $972,500 | $1,034,189 |
| Torrensville, 5031 | 7% | $941,500 | $1,008,308 |
| Daw Park, 5041 | 7% | $972,000 | $1,043,226 |
| Kidman Park, 5025 | 7% | $985,000 | $1,057,612 |
All five of PropTrack's top picks for the state sit within 10km of Adelaide's CBD, with Clapham needing just a +5 per cent bump over the next year to reach the seven-figure milestone.
You can find PropTrack's full list of suburbs here.
Perth and Western Australia
The booming conditions seen in Perth over recent years have already seen plenty of new entrants to the million-dollar club.
At present, there are 90 suburbs in the state with a median price of over $1 million, and PropTrack forecasts another six could join that group within the next 12 months.
Top 5 WA suburbs projected to join the million-dollar club in the next 12 months
| Suburb | Avg 10-year growth | Current median price | Projected price in 2025 |
|---|---|---|---|
| Doubleview, 6018 | 3% | $985,000 | $1,011,593 |
| Mindarie, 6030 | 4% | $975,000 | $1,013,934 |
| Lathlain, 6100 | 5% | $999,750 | $1,040,143 |
| Dunsborough, 6281 | 5% | $972,500 | $1,021,058 |
| Serpentine, 6125 | 6% | $975,000 | $1,036,968 |
Of the suburbs within striking distance of seven figures, inner Perth's Lathlain is right on the cusp, with Doubleview, Mindarie, and regional spots Dunsborough and Serpentine also close to breaking through to the million-dollar club.
You can find PropTrack's full list of suburbs here.
Thinking of selling in 2024?
If you're still looking to get in on the action this year, it's important to be as prepared as possible in order to cut through the competition and achieve a standout result.
Step 1: Understanding how your market is performing
Every market is different, and understanding your local market is fundamental to making the right selling decisions. Our guide to tracking market trends and data will help you to get a clear picture of how your market is performing and how that impacts you as a seller.
Step 2: Know what your property might be worth
Getting a free home value estimate is a great way to set a foundation for your selling expectations and begin planning the path forward.
Step 3: Get a no-obligation market appraisal from a top real estate agent
Understand what your property could sell for in the current market by speaking to the top-performing agents in your suburb. Comparing top agents in your area will help you find the perfect partner for your selling journey and move towards a successful result.
Step 4: Finally, get your property listing-ready
Taking a thorough approach to preparing your home for sale is another critical step. From cleaning, decluttering, painting and performing other cosmetic renovations to home staging, photography and marketing, getting your property to sale-ready condition is a must.
