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Strong capital gains drive a surge in the million dollar suburbs during 2016

 

From 2011 to December 2016, the total number of suburbs with median house prices exceeding $1 million dollars has increased 176%, and the total number of suburbs with a median house value of $2m plus increased by 249% over the same period.

The vast majority of these suburbs nationally (87%) were located unsurprisingly in New South Wales and Victoria as these two states saw incredible growth defying many trends.

Source: CoreLogic

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