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Australia’s most expensive suburb is Peppermint Grove in WA.
According to RP Data research, the suburb carries a median house price tag of just $4.6 million – a cool million more than the Sydney suburb of Vaucluse, which placed second.
The research also revealed that Australia's million dollar suburbs grew by 35% to total 212 at the end of 2010, according to a report on Australian Brokernews.
Senior research analyst Cameron Kusher said the jump came despite an overall capital city home value increase of 4.7%.
“Over the past five years, the premium sector has typically fared quite well (outside of 2008) and has recorded strong growth in property values,” he said.
Of the 212 high-end suburbs, 56% were in Sydney, 20% in Victoria, 12% in WA, 6% in Queensland, 3% in SA, 2% in the ACT and 0.5% in the NT.
And according to The Adviser, other suburbs on the list are:
• Vaucluse, NSW with a median house price of $3.6 million
• Bellevue Hill, NSW with a median house price of $3.4 million
• Dalkeith, WA with a median house price of $2.8 million
• Dover Heights, NSW with a median house price of $2.7 million
Affordability, not interest rates will cripple Great Aussie Dream - Home ownership will be out of reach to more Australians unless government takes immediate action.
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