Million-dollar suburbs are on the rise
The number of suburbs with million-dollar price tags has skyrocketed over the past year and what was once the domain of affluent, inner city suburbs, lesser known areas are going up in price. REA Group economist Anne Flaherty says the rise is mainly due to the COVID-19 pandemic and focused on the areas which are suburban but still within commuting distance of CBDs. “New South Wales has really been that star performer, followed by Victoria,” she told Sky News.
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The number of suburbs with million-dollar price tags has skyrocketed over the past year and what was once the domain of affluent, inner city suburbs, lesser known areas are going up in price. REA Group economist Anne Flaherty says the rise is mainly due to the COVID-19 pandemic and focused on the areas which are suburban but still within commuting distance of CBDs. “New South Wales has really been that star performer, followed by Victoria,” she told Sky News.
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