A joint report from Propertybuyer and Hotspotting has revealed the top 10 locations across four states that are on the verge of reaching million-dollar median prices, with Queensland’s strong showing highlighting the state’s continued market strength.
New South Wales follows with three suburbs on the list, while Victoria contributes two locations and South Australia rounds out the top 10 with one suburb expected to soon join the million-dollar club.
Queensland’s Woombye on the Sunshine Coast leads the pack with a current median house price of $970,000, followed by Coombabah on the Gold Coast at $950,000.
The state’s other two entries are Upper Coomera on the Gold Coast ($910,000) and Capalaba in Brisbane ($876,000).
In New South Wales, Waratah in Newcastle ($905,000), Teralba in Lake Macquarie ($900,000), and Wyoming ($900,000) all make the list with strong growth potential.
Victoria’s entries include Hampton, the only unit market to make the list, with a median price of $920,000 and an attractive rental yield of 4.4 percent, along with Langwarrin in Frankston at $855,000.
Edwardstown in Adelaide rounds out the top 10 with a median house price of $900,000 and the lowest vacancy rate of all markets at just 0.4 percent.
The research found that all 10 suburbs have extremely low vacancy rates, ranging from 0.4 per cent in Edwardstown to 1.2 per cent in Langwarrin.
Hotspotting Director Terry Ryder pointed to Coombabah as a standout performer, with expected annual growth of 6.8 percent over the next four years.
“It is approximately 15 kilometres from the Gold Coast CBD and has excellent transport links and access to commercial hubs,” Mr Ryder said.
“It is a picturesque riverside location with plenty of open space, parks, and recreational facilities, making it a family-friendly and peaceful area.”
Upper Coomera in Queensland offers the highest rental yield at 4.6 percent, making it particularly attractive to investors looking for cash flow alongside capital growth potential.
The report also highlights significant infrastructure developments supporting growth in several markets, including a $250 million town centre development in Capalaba starting in early 2025 and the $3.02 billion Coomera Connector project.
Propertybuyer CEO & Founder Rich Harvey said that while price growth may have slowed in some areas over the past six months, the number of million-dollar markets continues to increase throughout Australia.
“Making a smart property purchase requires a blend of historical and forward-looking data, local expertise, and the agility to act swiftly when the ideal opportunity arises,” Mr Harvey said.
“And there are still plenty of opportunities for investors to find markets that are set to tip over into million-dollar markets in 2025.”
