Top growth suburbs identified as property prices near million-dollar mark

Property experts have identified Australia’s top 10 suburbs poised to join the million-dollar club, with Queensland dominating the list of growth hotspots.

The research, conducted by Propertybuyer and Hotspotting, revealed four Queensland locations among the high-performing suburbs, followed by three in New South Wales.

Propertybuyer CEO Rich Harvey said specific market fundamentals drove the selections.

“While million-dollar suburbs are more common than ever before, there are certain pockets, and certain suburbs, that are primed for superior capital growth,” he said.

The list featured nine house markets and one unit market, with median prices ranging from $898,000 to $1.1 million.

Chittaway Bay on the NSW Central Coast was highlighted as a standout performer, with its median house price reaching $973,000.

“Chittaway Bay has the magic of being a ’20-minute suburb’ where work, shopping and playing can be all close by,” Harvey said.

Hotspotting Director Terry Ryder identified Brisbane’s Wynnum West as an emerging performer.

“Wynnum West has long been undervalued, but it is now on a strong trajectory of further growth offering some of the most consistent median price growth on the bayside of Brisbane in the past two years,” he said.

Adelaide’s Flinders Park also made the list, with its median house price reaching $935,000 after 13 per cent annual growth.

The research focused on established suburbs rather than new developments to avoid potential oversupply issues.