New research from Propertybuyer and Hotspotting has identified the top emerging million-dollar suburbs in Australia with strong potential for long-term capital growth.
The study, led by Propertybuyer CEO Rich Harvey and Hotspotting Director Terry Ryder, showcases ten suburbs across Australia with favourable economic and market fundamentals, making them prime choices for homebuyers and investors.
Mr Harvey explained that the selected suburbs are backed by classic growth drivers like population expansion, lifestyle appeal, employment opportunities, and infrastructure investment.
While million-dollar suburbs are more common than ever, certain pockets are primed for superior capital growth.
“These top million-dollar markets are not just randomly selected. Rather, they have the classic drivers of population growth, lifestyle appeal, employment opportunities and infrastructure.
“They generally are also established suburbs rather than greenfield ones – where you’re going to become oversupplied with new unit stock – plus, they are in desirable locations and are strategically positioned suburbs close to a variety of attributes.”
The top ten list includes nine suburbs with houses and one with units, with locations spread across Queensland, New South Wales, Victoria, and South Australia.
Notably, these suburbs are on the cusp of reaching million-dollar median property prices, allowing early buyers to potentially benefit from long-term appreciation.
Mr Harvey said the trick is to get in before they hit the million-dollar median mark and secure a property early to reap ongoing price growth benefits.
“These types of million-dollar median suburbs are generally undergoing gentrification, which means ongoing price growth and will allow owners to build their wealth for the future,” he said.
The Top 10 Million-Dollar Hotspots
- Avalon Beach, NSW (Units): With a median unit price of $1.1 million, Avalon Beach is a coveted suburb on Sydney’s Northern Beaches.
- Birtinya, QLD (Houses): Near the Sunshine Coast, Birtinya has a median price of $960,000 and recorded 12% growth in the past year.
- Brighton, QLD (Houses): Close to Brisbane, Brighton houses have a median price of $945,000 with a growth rate of 14%.
- Chelsea Heights, VIC (Houses): This Melbourne suburb boasts a median price of $950,000, with a 6% growth over the past year.
- Chittaway Bay, NSW (Houses): Located on the NSW Central Coast, Chittaway Bay has a median price of $973,000, driven by its proximity to job hubs.
- Ferntree Gully, VIC (Houses): A family-friendly Melbourne suburb with a median price of $898,000 and a recent 3% growth.
- Flinders Park, SA (Houses): This Adelaide suburb has a median price of $935,000 and a growth rate of 13%, benefiting from nearby natural spaces and city access.
- Kotara, NSW (Houses): Kotara has a median price of $913,000, with solid infrastructure supporting a 1% growth rate.
- Southport, QLD (Houses): Southport, a prime area on the Gold Coast, shows a median price of $976,000, with a 13% rise.
- Wynnum West, QLD (Houses): This bayside Brisbane suburb has a median price of $920,000, with consistent demand pushing 11% growth.
Spotlight:
Chittaway Bay, on the NSW Central Coast, stands out with its appeal as a “20-minute suburb,” where work, shopping, and leisure are all close by, said Mr Harvey.
“Chittaway Bay offers a desirable lifestyle, job nodes, transport access, and plenty of community amenities,” he said, highlighting its proximity to the Tuggerah Business Park and Westfield Tuggerah, which attract residents and investors alike.
Meanwhile, Wynnum West in Brisbane has gained attention as a hidden gem now attracting strong investor interest.
According to Mr Ryder, Wynnum West has long been undervalued but is now on a growth trajectory.
“The suburb is within commuting distance of the CBD by bus or train, allowing city workers to live a bayside lifestyle not far from the office. Importantly, Wynnum West is close to significant job nodes, including the Brisbane Airport precinct and the Port of Brisbane.”
Adelaide’s Flinders Park is another top performer with a median price of $935,000. Located close to the city center and Adelaide’s beaches, Flinders Park boasts natural beauty with the River Torrens nearby, and amenities such as the Flinders Park Village Shopping Centre.
