Perth and Adelaide lead Australia’s next million-dollar suburb boom

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A new property market analysis predicts that Perth and Adelaide will be home to most of Australia’s next $1 million suburbs, reflecting strong growth outside the traditional markets of Sydney and Melbourne.

According to Ray White Group, nine Perth suburbs, three Adelaide suburbs, and Howard Springs in Darwin are expected to reach an average house price of $1 million within the next year.

The report points to changing buyer preferences since the pandemic, with more Australians choosing affordable cities that offer greater lifestyle flexibility and support for remote work.

Experts say Perth has experienced particularly strong momentum as rising prices in inner suburbs continue to push demand into surrounding areas. Adelaide is also seeing steady growth as buyers look for better value compared with larger capital cities.

Sydney and Melbourne were largely absent from the list because many of their suburbs have already passed the $1 million mark, while more affordable areas tend to have higher levels of investor activity.

Suburbs tipped to reach the $1 million milestone include:

• High Wycombe (Perth)

• Forrestfield Wattle Grove (Perth)

• Marangaroo (Perth)

• Yangebup (Perth)

• Wanneroo Sinagra (Perth)

• Huntingdale Southern River (Perth)

• Ballajura (Perth)

• Casuarina Wandi (Perth)

• Hocking Pearsall (Perth)

• Howard Springs (Darwin)

• Sheidow Park Trott Park (Adelaide)

• McLaren Vale (Adelaide)

• Golden Grove (Adelaide)

Property experts believe continued demand, affordability and lifestyle appeal will keep supporting growth in these markets over the coming year.

Source ; News.com

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