{"id":7103,"date":"2016-02-18T12:30:59","date_gmt":"2016-02-18T01:30:59","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=7103"},"modified":"2016-02-18T12:30:59","modified_gmt":"2016-02-18T01:30:59","slug":"million-dollar-suburbs-john-mcgrath","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/million-dollar-suburbs-john-mcgrath\/","title":{"rendered":"Million dollar suburbs &#124; John McGrath"},"content":{"rendered":"<p><strong>In his regular column in\u00a0<a href=\"http:\/\/www.switzer.com.au\/the-experts\/john-mcgrath-property-expert\/million-dollar-suburbs\/\" target=\"_blank\" rel=\"noopener noreferrer\">Switzer<\/a>, John McGrath discusses how Australia&#8217;s\u00a0Million dollar suburbs are the new median. \u00a0\u00a0<\/strong><\/p>\n<h4>Here is what he had to say:<\/h4>\n<p>These days, the purchasing budget that a typical family needs in a major city like Sydney is around a million dollars or more, particularly if you want a reasonably large home that is fairly close to work (usually the CBD).<br \/>\nA million dollars is a lot of money. \u00a0<a href=\"https:\/\/i0.wp.com\/realestatetalk.com.au\/wp-content\/uploads\/2014\/08\/mcgrath.jpg\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-1807\" alt=\"mcgrath\" src=\"https:\/\/i0.wp.com\/realestatetalk.com.au\/wp-content\/uploads\/2014\/08\/mcgrath.jpg?resize=150%2C143\" width=\"150\" height=\"143\" \/><\/a><br \/>\nI\u2019m not about to argue with anyone who says real estate in cities like Sydney and Melbourne is expensive and I agree it\u2019s difficult for many young people to get into the market from a standing start.<br \/>\nThe flip side is that as our markets grow in value, so does the wealth of about 7 out of 10 Australians because that\u2019s how many of us own a home either outright or with a mortgage.<\/p>\n<h4>But back to the million dollar budget.<\/h4>\n<p>New research published by independent data analysts, CoreLogic RPData shows the number of suburbs across Australia with a median property price above $1 million has risen by 31% in the past year alone.<br \/>\nThere were 406 suburbs nationwide with a median value above $1 million at the end of 2014.<br \/>\nNow there\u2019s 530.<br \/>\nIt\u2019s interesting to note that the number of million dollar suburbs rose by about the same amount nationally (31%) as it did in the capital cities combined (31%) and in our regional areas (33%).<br \/>\nNo prizes for guessing which cities had the lion\u2019s share of new million dollar suburbs.<\/p>\n<h4>Yes, Sydney and Melbourne by a country mile.<\/h4>\n<p>Breaking down the numbers into state figures, New South Wales experienced a 32.7% bump in the number of $1 million suburbs but it was Victoria leading the way with 46.7%.\u00a0<a href=\"https:\/\/i0.wp.com\/realestatetalk.com.au\/wp-content\/uploads\/2013\/12\/GettyImages_93222791-Monopoly-13.jpg\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-934\" alt=\"House keys, plan and model houses.\" src=\"https:\/\/i0.wp.com\/realestatetalk.com.au\/wp-content\/uploads\/2013\/12\/GettyImages_93222791-Monopoly-13-300x201.jpg?resize=300%2C201\" width=\"300\" height=\"201\" \/><\/a><br \/>\nAmong the rest: 15.4% in Queensland; , -7.7% in South Australia; -9.5% in Western Australia; and no change in Tasmania, the Northern Territory and the Australian Capital Territory.<br \/>\nPutting New South Wales and Victoria together, these two states now account for 85% of all $1 million suburbs nationwide.<br \/>\nCoreLogic RPData also put together a list of the Top 10 most expensive suburbs nationally for houses and apartments as of the end of 2015.<br \/>\nThe\u00a0<strong>median prices for the Top 10 House Suburbs<\/strong>\u00a0ranged from around $3.3M in Whale Beach on Sydney\u2019s Northern Beaches up to $6.3M in Centennial Park in Sydney\u2019s Eastern Suburbs.<br \/>\nThe\u00a0<strong>median prices for the Top 10 Apartment Suburbs<\/strong>\u00a0ranged from around $1.2M in North Ryde in Sydney\u2019s Northern Districts to $2.2M in Point Piper in Sydney\u2019s Eastern Suburbs.<\/p>\n<h4>Top 10 Most Expensive Suburbs \u2013 Houses<\/h4>\n<p>1.\u00a0Centennial Park, Sydney<br \/>\n2.\u00a0Point Piper, Sydney<br \/>\n3.\u00a0Darling Point, Sydney<br \/>\n4.\u00a0Vaucluse, Sydney<br \/>\n5.\u00a0Bellevue Hill, Sydney<br \/>\n6.\u00a0Tamarama, Sydney<br \/>\n7.\u00a0Dover Heights, Sydney<br \/>\n8.\u00a0Peppermint Grove, Perth<br \/>\n9.\u00a0Double Bay, Sydney<br \/>\n10.\u00a0Whale Beach, Sydney<\/p>\n<h4>Top 10 Most Expensive Suburbs \u2013 Apartments<\/h4>\n<p>1.\u00a0Point Piper, Sydney<br \/>\n2.\u00a0Darling Point, Sydney<br \/>\n3.\u00a0The Rocks, Sydney<br \/>\n4.\u00a0Cabarita, Sydney<br \/>\n5.\u00a0Millers Point, Sydney<br \/>\n6.\u00a0Cremorne Point, Sydney<br \/>\n7.\u00a0Huntleys Cove, Sydney<br \/>\n8.\u00a0Balmain East, Sydney<br \/>\n9.\u00a0Tamarama, Sydney<br \/>\n10.\u00a0North Ryde, Sydney<br \/>\nOf course, it\u2019s worth remembering that a million dollar median doesn\u2019t mean that\u2019s the average price \u2013 it\u2019s the middle price, so there\u2019s an equal number of homes valued below $1 million as there are above $1 million.<br \/>\nBut obviously, a suburb with a $1 million median is going to have more expensive housing all round.<br \/>\nGenerally speaking, I recommend buying above a suburb\u2019s median because it means you\u2019ll be getting a superior product to what is considered \u2018the typical home\u2019 for the area.<br \/>\nA property that is 10-20% above the median price is going to have better features, providing a better lifestyle and more than likely better capital growth over the long term.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In his regular column in\u00a0Switzer, John McGrath discusses how Australia&#8217;s\u00a0Million dollar suburbs are the new median. \u00a0\u00a0 Here is what he had to say: These days, the purchasing budget that a typical family needs in a major city like Sydney is around a million dollars&#8230;<\/p>\n","protected":false},"author":176692471,"featured_media":6514,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13,17,22,28],"tags":[],"class_list":["post-7103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-story","category-property-investment","category-research-topic","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Million dollar suburbs &#124; 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\/million-dollar-suburbs-john-mcgrath\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Million dollar suburbs &#124; John McGrath - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"In his regular column in\u00a0Switzer, John McGrath discusses how Australia&#8217;s\u00a0Million dollar suburbs are the new median. \u00a0\u00a0 Here is what he had to say: These days, the purchasing budget that a typical family needs in a major city like Sydney is around a million dollars...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/channels.realty.com.au\/realtytalk\/million-dollar-suburbs-john-mcgrath\/\" \/>\n<meta property=\"og:site_name\" content=\"Realty Talk\" \/>\n<meta property=\"article:published_time\" content=\"2016-02-18T01:30:59+00:00\" \/>\n<meta name=\"author\" content=\"rolanrush\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rolanrush\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/million-dollar-suburbs-john-mcgrath\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/million-dollar-suburbs-john-mcgrath\\\/\"},\"author\":{\"name\":\"rolanrush\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\"},\"headline\":\"Million dollar suburbs &#124; John McGrath\",\"datePublished\":\"2016-02-18T01:30:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/million-dollar-suburbs-john-mcgrath\\\/\"},\"wordCount\":603,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/million-dollar-suburbs-john-mcgrath\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"articleSection\":[\"Latest Stories\",\"Property Investment Topics\",\"Research\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/million-dollar-suburbs-john-mcgrath\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/million-dollar-suburbs-john-mcgrath\\\/\",\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/million-dollar-suburbs-john-mcgrath\\\/\",\"name\":\"Million dollar suburbs &#124; John McGrath - Realty Talk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/million-dollar-suburbs-john-mcgrath\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/million-dollar-suburbs-john-mcgrath\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2016-02-18T01:30:59+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/million-dollar-suburbs-john-mcgrath\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/million-dollar-suburbs-john-mcgrath\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/million-dollar-suburbs-john-mcgrath\\\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/million-dollar-suburbs-john-mcgrath\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Million dollar suburbs &#124; John McGrath\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#website\",\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/\",\"name\":\"Realty Talk\",\"description\":\"Your Trusted Voice For Property Investing. Anywhere, Anytime.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\",\"name\":\"rolanrush\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g\",\"caption\":\"rolanrush\"},\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/author\\\/rolanrush\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Million dollar suburbs &#124; John McGrath - Realty Talk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/channels.realty.com.au\/realtytalk\/million-dollar-suburbs-john-mcgrath\/","og_locale":"en_US","og_type":"article","og_title":"Million dollar suburbs &#124; John McGrath - Realty Talk","og_description":"In his regular column in\u00a0Switzer, John McGrath discusses how Australia&#8217;s\u00a0Million dollar suburbs are the new median. \u00a0\u00a0 Here is what he had to say: These days, the purchasing budget that a typical family needs in a major city like Sydney is around a million dollars...","og_url":"https:\/\/channels.realty.com.au\/realtytalk\/million-dollar-suburbs-john-mcgrath\/","og_site_name":"Realty Talk","article_published_time":"2016-02-18T01:30:59+00:00","author":"rolanrush","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rolanrush","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/channels.realty.com.au\/realtytalk\/million-dollar-suburbs-john-mcgrath\/#article","isPartOf":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/million-dollar-suburbs-john-mcgrath\/"},"author":{"name":"rolanrush","@id":"https:\/\/channels.realty.com.au\/realtytalk\/#\/schema\/person\/384a57ac9e52cb9bf19896cb15eaa52d"},"headline":"Million dollar suburbs &#124; John McGrath","datePublished":"2016-02-18T01:30:59+00:00","mainEntityOfPage":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/million-dollar-suburbs-john-mcgrath\/"},"wordCount":603,"commentCount":0,"image":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/million-dollar-suburbs-john-mcgrath\/#primaryimage"},"thumbnailUrl":"","articleSection":["Latest Stories","Property Investment Topics","Research"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/channels.realty.com.au\/realtytalk\/million-dollar-suburbs-john-mcgrath\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/channels.realty.com.au\/realtytalk\/million-dollar-suburbs-john-mcgrath\/","url":"https:\/\/channels.realty.com.au\/realtytalk\/million-dollar-suburbs-john-mcgrath\/","name":"Million dollar suburbs &#124; John McGrath - Realty Talk","isPartOf":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/#website"},"primaryImageOfPage":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/million-dollar-suburbs-john-mcgrath\/#primaryimage"},"image":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/million-dollar-suburbs-john-mcgrath\/#primaryimage"},"thumbnailUrl":"","datePublished":"2016-02-18T01:30:59+00:00","author":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/#\/schema\/person\/384a57ac9e52cb9bf19896cb15eaa52d"},"breadcrumb":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/million-dollar-suburbs-john-mcgrath\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/channels.realty.com.au\/realtytalk\/million-dollar-suburbs-john-mcgrath\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/channels.realty.com.au\/realtytalk\/million-dollar-suburbs-john-mcgrath\/#primaryimage","url":"","contentUrl":""},{"@type":"BreadcrumbList","@id":"https:\/\/channels.realty.com.au\/realtytalk\/million-dollar-suburbs-john-mcgrath\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/channels.realty.com.au\/realtytalk\/"},{"@type":"ListItem","position":2,"name":"Million dollar suburbs &#124; John McGrath"}]},{"@type":"WebSite","@id":"https:\/\/channels.realty.com.au\/realtytalk\/#website","url":"https:\/\/channels.realty.com.au\/realtytalk\/","name":"Realty Talk","description":"Your Trusted Voice For Property Investing. Anywhere, Anytime.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/channels.realty.com.au\/realtytalk\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/channels.realty.com.au\/realtytalk\/#\/schema\/person\/384a57ac9e52cb9bf19896cb15eaa52d","name":"rolanrush","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g","caption":"rolanrush"},"url":"https:\/\/channels.realty.com.au\/realtytalk\/author\/rolanrush\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/posts\/7103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/users\/176692471"}],"replies":[{"embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/comments?post=7103"}],"version-history":[{"count":0,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/posts\/7103\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/media?parent=7103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/categories?post=7103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/tags?post=7103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}