Record Number of Australian Homes Now Cost More Than $1 Million: CoreLogic

Sydney and Brisbane added the largest number of million-dollar suburbs, while Melbourne stagnated.

A couple walks past a real estate agents display in Melbourne, Australia on Aug. 6, 2024 William West/AFP via Getty Images

A record number of Australian homes now cost more than $1 million (US$684,060), according to the latest CoreLogic report.

The latest Million-Dollar Markets report revealed 29.3 percent of a surveyed 4,772 suburbs had median values of $1 million or more, as of August.