The Rise Of $4 Million Suburbs
Kanebridge News
Share Button

The Rise Of $4 Million Suburbs

Nearly double the price of 12 months ago.

By Kanebridge News
Fri, Nov 5, 2021 12:01pmGrey Clock 2 min

Houses in 465 suburbs – the equivalent of 5% of all housing markets in Australia – now command a $4 million media price, nearly double the price of 12 months ago.

The result is the combination of low-interest rates, high savings, and strong performance in sectors of the economy accelerates the growth according to research by Ray White.

Analysis of 9315 suburbs by Ray White found that one in 10 housing markets had a median price of more than $3 million. Triple what it was a decade ago.

More than half (52%) of all suburbs analysed posted a median price of more than $1 million and one in five is worth more than $2 million.

Over the next few months, 12 more suburbs are set to cross the $4 million threshold including Cammeray, Castle Cove and Castlecrag in Sydney’s lower north shore, Killara in the upper north shore and Balgowlah Heights in the northern beaches and Peppermint Grove in Perth.

Across the country, luxury house has boomed by 70% while premium apartment sales have climbed 40%.

Sydney sits at the top of the market with 2438 houses and 3113 apartments sold since the onset of COVID-19 while Melbourne transacted 744 houses and 396 apartments.

Perth is back on its way up with a 150% rise in the number of $10 million home sales to 181.

Within the country’s hottest luxury market, Sydney, Mosman recorded the highest number of luxury house sales, with 356 worth more than 3.56 billion while Vaucluse came in second with Vaucluse came second with 209 luxury houses changing hands, followed by Bellevue Hill with 184 sales, Bronte with 96 and Killara with 90.

Sydney’s Point Piper is the country’s most expensive suburb with a median house price in the country where the median house price is $15 million.

In Melbourne, Toorak remained the most expensive suburb in the state with median house price at $5.47 million, while Deepdene took the top spot for apartments with a $1.32 million median price.

Ray White defines luxury homes as those priced at more than $10 million and apartments over $3 million



MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

Related Stories
Property
A 600-Year-Old Medieval Villa Overlooking Florence Lists for €12 Million
By LIZ LUCKING 29/05/2024
Property
The suburbs where we’re building the most new homes
By Bronwyn Allen 28/05/2024
Property
Judge Blocks Effort to Auction Graceland
By TALI ARBEL 26/05/2024
A 600-Year-Old Medieval Villa Overlooking Florence Lists for €12 Million

The four-storey, lemon-hued villa boasts more than 16,000 square feet of living space and historic character and charm by the bucket load

By LIZ LUCKING
Wed, May 29, 2024 2 min

A 14th-century villa in the hills overlooking Florence, Italy, has hit the market for €12 million (US$13 million).

Surrounded by cypress trees, vineyards and olive groves, the quintessential Tuscan home was built for the Davanzati family—who were powerful bankers, merchants and patrons during the Italian Renaissance who have a museum named after them in the heart of the city. The villa was one of the family’s multiple country retreats, according to Lionard Luxury Real Estate, which brought the home to the market earlier this month.

Courtesy of Lionard

The four-storey, lemon-hued villa boasts more than 16,000 square feet of living space and historic character and charm by the bucket load.

The ballroom has a giant skylight.
Courtesy of Lionard

On the ground floor there are ​​a number of reception rooms and open-air living areas, with many of them boasting antique paintings, tapestries and stately fireplaces made of marble or carved stone.

The most “magnificent” room, according to Lionard, is the winter garden hall, a ballroom with stuccos, loggias and towering vaulted ceilings, illuminated by an Art Nouveau skylight.

Courtesy of Lionard

On the first floor are multiple double bedrooms and an antique library, and the second floor, while in need of renovation, offers the possibility of creating up to 12 en-suite bedrooms. The villa’s tower has a “delightful sitting room and a rooftop terrace offering a breathtaking view of the city of Florence,” the listing said.

The villa has ivy-covered loggias.
Courtesy of Lionard

The basement, meanwhile, has a cellar with brick vaults that are perfect for wine lovers. An elevator runs between the levels.

Outside, the grounds have well-kept gardens, rolling lawns, a fountain, ancient wells and ivy-covered loggias.

Mansion Global couldn’t determine who is selling the villa, or when they acquired it.

The property is “an oasis of peace,” the listing said, and “one of the most exclusive historical estates on the hills that surround the city of Florence.”

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

Related Stories
Property
The suburbs where we’re building the most new homes
By Bronwyn Allen 28/05/2024
Money
Boost for World Economy as U.S., Eurozone Accelerate in Tandem
By JOSHUA KIRBY 25/05/2024
Lifestyle
How an Ex-Teacher Turned a Tiny Pension Into a Giant-Killer
By MATT WIRZ 27/05/2024
0
    Your Cart
    Your cart is emptyReturn to Shop