{"id":25244,"date":"2015-09-25T11:27:26","date_gmt":"2015-09-25T01:27:26","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=5887"},"modified":"2015-09-25T11:27:26","modified_gmt":"2015-09-25T01:27:26","slug":"australias-top-20-suburbs-john-mcgrath-2","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/australias-top-20-suburbs-john-mcgrath-2\/","title":{"rendered":"Australia’s top 20 suburbs – John McGrath"},"content":{"rendered":"

A million dollars used to sound like a\u00a0fantastical\u00a0amount of money.<\/strong><\/p>\n

\n
\n
To some it still is, but to those that live in Sydney it will barely get you a small house.In his recent column in\u00a0Switzer<\/a>, John McGrath explains what\u2019s behind the upwards bolt in property prices.<\/p>\n

HERE\u2019S WHAT HE HAD TO SAY:<\/h4>\n

How times have changed.\"John<\/p>\n

In June 1995, only 1% of house sales in Sydney over the previous five years were above $1 million.<\/p>\n

By June 2015, that percentage was 36.8%.<\/p>\n

In 1995, only 0.6% of apartments sold above $1 million.<\/p>\n

Today it\u2019s 11.6%.<\/p>\n

I love to think of all the people who bought property back in the 1990s and are still holding those properties today.<\/p>\n

Real estate investment should always be a long-term play and these buyers have done incredibly well.<\/p>\n

The prevalence of million dollar sales has obviously grown exponentially over the years.<\/p>\n

What was once the price tag of only the most exclusive homes in Sydney\u2019s best suburbs twenty years ago is now the median price of hundreds of suburbs across Australia.<\/p>\n

According to CoreLogic RP Data, there are 437 suburbs across the country in the $1 million club.<\/strong><\/p>\n

Just three years ago, around the commencement of Sydney\u2019s current growth cycle, it was half that number at 220 suburbs (June 2012).<\/p>\n

THESE STATISTICS TELL US A COUPLE OF THINGS<\/h4>\n

Most importantly, they demonstrate the tremendous wealth that can be generated through property as long as you buy sensibly (location, location, location) with a long-term view.<\/p>\n

Secondly, they remind us that the prices we cannot imagine today will be the reality of tomorrow.<\/p>\n

Twenty years ago, who would have thought $1 million would be considered a basic budget for a family home?<\/p>\n

Who would have thought a one-bedroom apartment could sell for that?<\/p>\n

In Sydney today, this is a reality.<\/p>\n

A million dollars isn\u2019t what it used to be.<\/p>\n

In fact, one data supplier is already reporting the median house price for the entire city at $1 million.<\/p>\n

Here\u2019s Australia\u2019s top 20 suburbs for median value (houses)<\/strong><\/p>\n

    \n
  1. Point Piper, NSW $5.596 million<\/li>\n
  2. Centennial Park, NSW $5.199 million<\/li>\n
  3. Vaucluse, NSW $4.125 million<\/li>\n
  4. Bellevue Hill, NSW $3.810 million<\/li>\n
  5. Tamarama, NSW $3.534 million<\/li>\n
  6. Peppermint Grove, WA $3.505 million\"house<\/li>\n
  7. Whale Beach, NSW $3.322 million<\/li>\n
  8. Dover Heights, NSW $3.250 million<\/li>\n
  9. Toorak, VIC $3.229 million<\/li>\n
  10. Watsons Bay, NSW $3.209 million<\/li>\n
  11. Longueville, NSW $2.996 million<\/li>\n
  12. Double Bay, NSW $2.950 million<\/li>\n
  13. Palm Beach, NSW $2.760 million<\/li>\n
  14. Dawes Point, NSW $2.752 million (apartments)<\/li>\n
  15. Mosman, NSW $2.701 million<\/li>\n
  16. Clontarf, NSW $2.683 million<\/li>\n
  17. Rose Bay, NSW $2.680 million<\/li>\n
  18. Northwood, NSW $2.575 million<\/li>\n
  19. Bronte, NSW $2.525 million<\/li>\n
  20. Dalkeith, WA $2.471 million<\/li>\n<\/ol>\n

    Source: CoreLogic RP Data<\/em><\/p>\n

    THE NO. 1 SUBURBS IN OTHER STATES<\/h4>\n
      \n
    • Forrest, ACT $2.119 million<\/li>\n
    • Unley Park, SA $1.716 million<\/li>\n
    • Teneriffe, QLD $1.512 million<\/li>\n
    • Fannie Bay, NT $1.084 million<\/li>\n<\/ul>\n

      Source:\u00a0<\/em>CoreLogic RP Data<\/p>\n

      Suburbs in the $1 million club<\/strong>\u00a0across Australia and within the top three states<\/p>\n

        \n
      • 2010 \u2013 262 suburbs (151 in NSW, 42 in VIC, 31 in WA)<\/li>\n
      • 2011 \u2013 254 suburbs (153 in NSW, 44 in VIC, 29 in WA)<\/li>\n
      • 2012 \u2013 220 suburbs (136 in NSW, 37 in VIC, 28 in WA)<\/li>\n
      • 2013 \u2013 246 suburbs (153 in NSW, 39 in VIC, 35 in WA)<\/li>\n
      • 2014 \u2013 355 suburbs (232 in NSW, 51 in VIC, 46 in WA)<\/li>\n
      • 2015 \u2013 437 suburbs (302 in NSW, 61 in VIC, 39 in WA)<\/li>\n<\/ul>\n

        Source:\u00a0<\/em>CoreLogic RP Data<\/p>\n

        You might also be interested to know that the number of suburbs with a median value of $2 million has also grown significantly from 32 suburbs in June 2014 to 48 suburbs in June 2015<\/strong>.<\/p>\n

        Forty are in Sydney, five in Melbourne, two in Perth and one in Canberra.<\/p>\n

        As our $1 million club grows, the greatest advantage is for those who already own real estate.<\/p>\n

        The downside is younger Australians are finding it tougher to get into markets like Sydney.<\/p>\n

        As always, markets evolve and young buyers\u00a0will<\/strong>\u00a0find a way.<\/p>\n

        The Gen Ys are \u2018rentvesting\u2019 and I think we\u2019ll see more families leaving Sydney for Melbourne and Brisbane soon enough, given the big disparity in median house prices between the three East Coast cities.<\/p>\n<\/article>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

        A million dollars used to sound like a\u00a0fantastical\u00a0amount of money. To some it still is, but to those that live in Sydney it will barely get you a small house.In his recent column in\u00a0Switzer, John McGrath explains what\u2019s behind the upwards bolt in property prices….<\/p>\n","protected":false},"author":176692473,"featured_media":5098,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13],"tags":[],"class_list":["post-25244","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-story"],"yoast_head":"\nAustralia's top 20 suburbs - John McGrath - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/australias-top-20-suburbs-john-mcgrath-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Australia's top 20 suburbs - John McGrath - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"A million dollars used to sound like a\u00a0fantastical\u00a0amount of money. 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