Million-dollar club gets a shake-out
Twenty-eight suburbs have lost their membership of the million-dollar club over the past 12 months, according to RP Data research. On the other hand, nine suburbs have made the leap over the million-dollar barrier.
In New South Wales, the casualties include long-established residential suburbs such as Lane Cove, Willoughby, Crows Nest, Malabar and Naremburn.
In Victoria, the inner-city suburbs of South Yarra and Hawthorn East have lost their million-dollar price tags, as have bayside locations such as Elwood and eastern suburbs areas such as Surrey Hills.
The only Queensland location to fall out of the $1 million plus club was inner-city New Farm, while Western Australia suffered six casualties, including Cottesloe, Rossmoyne and South Fremantle.
The suburbs which have joined the million-dollar club are:
- Tennyson Point in NSW;
- Ascot in Queensland
- Malvern in South Australia;
- Eaglemont in Victoria;
- Pullenvale in Queensland;
- Cheltenham in NSW;
- Toorak Gardens in SA;
- Bondi Junction in NSW; and
- Menora in WA.
