Over third of all Aussie home markets now in million-dollar club

Penrith (Sydney)

Taylors Lakes (Melbourne)

Oxley (Brisbane’s Ipswich region)

Upper Coomera (Northern Gold Coast)

This signals a shift where price growth is no longer tied to prestige, but rather to broader demand and undersupply, especially in commutable, family-friendly locations.

Read more: First-home buyers get creative

Ezzy said: “While the sheer prevalence of seven-figure property values suggests that many can still access financing, the average age of first-home buyers has continued to creep higher, while home ownership rates have steadily declined, particularly among younger and lower-income households whose earnings struggle to keep pace with rising housing prices.”

“With tight supply levels and additional demand from the expanded First Home Guarantee scheme, values are expected to continue an upward trajectory through 2025, which will likely see more suburbs cross the seven-figure threshold.

Over 80 more markets expected to join the million-dollar club by year-end, Ezzy added.