{"id":92330,"date":"2025-10-21T15:08:12","date_gmt":"2025-10-21T15:08:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/92330\/"},"modified":"2025-10-21T15:08:12","modified_gmt":"2025-10-21T15:08:12","slug":"one-in-three-australian-property-markets-now-at-1-million-median","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/92330\/","title":{"rendered":"One in three Australian property markets now at $1 million median"},"content":{"rendered":"

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\u201cSome newly minted million-dollar markets include more mortgage belt suburbs like Sydney\u2019s Penrith and Melbourne\u2019s Taylors Lakes, along with Oxley in Brisbane\u2019s Ipswich region and Upper Coomera in the Northern Gold Coast,\u201d Ezzy said. \u201cSeven-figure markets are no longer confined to prestigious suburbs, with their reach expanding more broadly.\u201d<\/p>\n

Regional Victoria was the only area to record a net decline in million-dollar markets, with just 11 of 278 analysed suburbs maintaining a median value at or above $1 million, one fewer than last year.<\/p>\n

Ezzy also pointed to growing affordability concerns as more suburbs cross the million-dollar line. \u201cA household on the average income of $106,000 with a 20% deposit, would need to dedicate more than 50% of their pre-tax earnings to service a loan on a million-dollar property,\u201d she said. \u201cThis increases to more than 60% if they\u2019re using the First Home Guarantee scheme\u2019s\u00a05% deposit, a repayment-to-income ratio few brokers will approve.\u201d<\/p>\n

Despite the increasing prevalence of million-dollar sales, Ezzy pointed out that home ownership is becoming less attainable for many. \u201cThe 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,\u201d she said.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cSome newly minted million-dollar markets include more mortgage belt suburbs like Sydney\u2019s Penrith and Melbourne\u2019s Taylors Lakes, along…\n","protected":false},"author":2,"featured_media":92331,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[69125,138,220,111,139,69,814,21047],"class_list":{"0":"post-92330","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-1-million","9":"tag-business","10":"tag-markets","11":"tag-new-zealand","12":"tag-newzealand","13":"tag-nz","14":"tag-property","15":"tag-suburbs"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/92330","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=92330"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/92330\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/92331"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=92330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=92330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=92330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}