There’s been a seismic shift in Brisbane’s million-dollar club with a few surprise suburbs joining the elite list in the latest figures — just as several seasoned ones drop out.
A whopping 27 suburbs in the Brisbane region were in the millionaire club when it came to median sales price in the latest CoreLogic Market Trends report for February, released this week.
Seven of those were not there in recorded figures for 2017 — a period when there were more million dollar suburbs nationally than there are at present (651 versus 649 now).
Brisbane’s surprise entrant was Camp Mountain in Moreton Bay where the median house price climbed 16.4 per cent in one year to hit $1.1m in latest data.
The suburbs that jumped the most to get into the millionaire club were South Brisbane which rose a massive 27.5 per cent to $1.07m, closely followed by neighbouring Dutton Park which was up 26.5 per cent to $1.028m.
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In among suburbs that were not among the elites in 2017 were Upper Brookfield (now on a median house price of $1.4075m), Hendra (up 13.1 per cent to $1.1m), Balmoral ($1.0185m up 7.8 per cent) and Bardon ($1.0025m up 9.3 per cent).
Some big movers and shakers dropped off the millionaire list though, including blue chip suburb Chelmer whose median house price fell to $985,000 (down -1.5 per cent). Samford Valley was $70,000 below the million mark at $930,000 (down -7 per cent).
The biggest falls of the losers came out of Wilston whose median dropped (-22.1 per cent) to $880,000, andFortitude Valley which was down (-19.5 per cent) to $825,000.
CoreLogic research analyst Cameron Kusher said although the millionaire suburb figure had jumped substantially in Australia “from 123 suburbs a decade earlier, it has actually fallen from 741 suburbs in January 2018. In fact, more suburbs had a median of at least $1 million in 2017 (651) than do currently”.
“This increase in million dollar suburbs has occurred despite ongoing weak overall housing conditions across the state,” he said.
Teneriffe $1.67m Down -31.6%
Ascot $1.6m Up 3.2%
Chandler $1.58m Up 7.6%
New Farm $1.52m Up 11.2%
Bulimba $1.335m Up 5.1%
Hamilton $1.305m Up 0.6%
St Lucia $1.2035m Up 2%
Tennyson $1.1875m Down -2.7%
Pullenvale $1.18m Up 8.8%
Hawthorne $1.15m Down -1.2%
Paddington $1.15m Up 11.1%
Burbank $1.15m Up 15%
Auchenflower $1.135m Up 0.9%
Clayfield $1.13m Up 0.4%
Brookfield $1.105m Up 8.3%
Robertson $1.075m Up 23%
Fig Tree Pocket $1.05m Down -13.2%
Carbrook $1.0485m Down -3.1%
Kalinga $1.016m Down -13.9%
West End $1.01m Up 0.7%
Upper Brookfield $1.4075m
Hendra $1.1m Up 13.1%
Camp Mountain $1.1m Up 16.4%
South Brisbane $1.07m Up 27.5%
Dutton Park $1.028m Up 26.5%
Balmoral $1.0185m Up 7.8%
Bardon $1.0025m Up 9.3%
Chelmer $985,000 Down -1.5%
Samford Valley $930,000 Down -7.0%
Wilston $880,000 Down -22.1%
Fortitude Valley $825,000 Down -19.5%
(Source: CoreLogic data)