The Rise Of $4 Million Suburbs

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

Former Aussie Rules player Jeff Chapman’s dream beach house, which has had its praises sung by The Independent in the UK, is back on the market with a revised – and more competitive – price guide.

The contemporary pavilion-style residence Alinghi, created by celebrated architect James Grose, was voted one of the top five beach houses in the world by the British newspaper and has been operating as a luxury holiday rental earning up to $7000 a week.

The one-time Melbourne forward and founder of Bennelong Funds Management, and his wife Carena Shankar, listed the five-bedroom getaway back in mid 2024 with hopes of about $8 million. The prestige property is now back with new agent Pauline Karatau of Ray White New Farm and the amended guide now sits at $6.5 million.

As part of the private 5ha Rocky Point estate, at the southern end of the Great Barrier Reef overlooking Honeymoon Bay, the glamorous holiday home shares not only a private beach with just four other neighbours, but also a 30m saltwater pool, a full-size tennis court, a beach cabana with barbecue facilities and a full-time live-in caretaker on site.

Alinghi seemingly floats against the cliffs of North Queensland’s Capricorn Coast consisting of two pavilions and shallow reflections pools for ultimate serenity. Residence number 5 is home to a two-storey main pavilion with large living spaces spilling onto semi-enclosed areas framing enviable ocean views. Upstairs there are four bedrooms, including two with ensuites. The second pavilion is a private retreat housing the main bedroom suite with an additional study or wellness space.

Crafted by Grose to leave minimal impact on its natural environment, the house features external materials sourced locally including rich cedar, plus glass and Travertine stone specifically chosen to blend and weather with the landscape over time.

The low maintenance property is also relatively self sufficient thanks to water tanks collecting the region’s abundant rainfall. Despite it’s northern Queensland address air-conditioning is an after-thought due to the clever cross-ventilation design principles and deliberate orientation capturing ocean breezes that flow through the large footprint.

Alinghi’s external lightning has also been carefully designed to be low voltage with minimum impact upon the local wildlife including wallabies, echidnas, goannas, turtles and even a diverse range of native birds. From the private terraces throughout winter, homeowners can also track the migratory whales.

Alinghi is a 90-minute drive away from Agnes Waters and its sister town of 1770 (also known as Seventeen Seventy). It is approximately 120kms from Bundaberg, which is home to a well-serviced domestic airport.

Alinghi is listed for sale with a price guide of $6.5 million via Ray White New Farm agent Pauline Karatau on 0418 733 773.

The Rise Of $4 Million Suburbs

Nearly double the price of 12 months ago.