What are the next suburbs where house prices will exceed $1 million in 2025?
As of May, there were 857 suburbs in Australia with a geometric mean house price of at least $1m, four times the number in 2014 and 17.5% higher than last year, Ray White reported.
Most of these suburbs are in New South Wales, which has 358 million-dollar suburbs, twice the number of any other state. Victoria follows with 176 suburbs, closely trailed by Queensland with 174.
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“Queensland is the fastest growing with its count of $1 million suburbs growing by 25 times over the last decade from just seven to 174,” said Atom Go Tian (pictured above), senior data analyst at Ray White.
The Australian Capital Territory (ACT) also saw significant growth, with an 11-fold increase in million-dollar suburbs, from six in 2014 to 70 in 2024.
Assuming the growth rate of the last decade continues, around 99 new suburbs are expected to surpass the $1m mark in the next 12 months.
“Thirty of these will come from New South Wales, 24 from Queensland, and 18 from Victoria,” Go Tian said.
This suggests that Queensland may soon overtake Victoria as the state with the second-highest number of million-dollar suburbs. 
By tracking these trends, potential homeowners and investors can stay ahead of market shifts and make informed decisions about future property investments.
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