by Sanjeev Sah | Nov 19, 2024 | Market Updates

Property prices continue to climb, offering good future growth potential. Domain’s September 2024 quarter House Price Report showed that another 32 suburbs nationwide crossed the threshold of median values over $1 million. 

They were: 

* New South Wales houses: Bateau Bay, Casula, Cobbitty, Elderslie, Fairfield, Marayong, South Wentworthville and St Clair 

* New South Wales units: Centennial Park, Forest Lodge, Kensington, Manly Vale, Newport and North Sydney 

* Queensland houses: Aspley, Bellbowrie, Carina, Chermside West, Eatons Hill, Ferny Grove, Lota, Nundah and Upper Mount Gravatt 

* Western Australia houses: Beaconsfield, Booragoon, Doubleview, Mindarie, North Coogee and West Leederville 

* Victoria houses: Maribyrnong 

* Victoria units: Ivanhoe East 

* South Australia houses: Magill 

According to experts in each location, the upward pressure on prices was caused by increased demand, generally coupled with low supply.  

Some of the key reasons cited for the increase in demand were: 

* Good schools in and around these suburbs 

* Proximity to CBD 

* Proximity to the airport 

* Well-established transport links