{"id":34571,"date":"2021-09-15T09:38:04","date_gmt":"2021-09-14T21:38:04","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=34571"},"modified":"2021-09-15T09:38:04","modified_gmt":"2021-09-14T21:38:04","slug":"10-suburbs-where-house-prices-are-surging-over-50000-a-month","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/10-suburbs-where-house-prices-are-surging-over-50000-a-month\/","title":{"rendered":"10 suburbs where house prices are surging over $50,000 a MONTH"},"content":{"rendered":"

PHOTO: Property prices have exploded in these suburbs. Mosman, Sydney.\u00a0(Source: Getty)<\/em><\/strong><\/p>\n

Australia\u2019s property market\u00a0has boomed over the past 12 months and the coronavirus pandemic and subsequent lockdowns have done little to curb the skyrocketing trajectory of property prices.<\/p>\n

Since the\u00a0Reserve Bank slashed rates to a record low 0.10 per cent\u00a0in November last year, house prices have risen by 1 per cent to 2 per cent each month meaning property prices rose by $10,000 per month in many parts of the country.<\/p>\n

Australia\u2019s national median house price has climbed exceptionally close to the million-dollar mark at $955,927 \u2013 which is a huge 18.8 per cent increase over the year, or 5.8 per cent over the June quarter, according to\u00a0Domain\u2019s latest House Price Report<\/a>.<\/p>\n

In fact, six Aussie states have hit record highs for their third consecutive quarter, while the other two are again at their highest point in several years.<\/p>\n

But the median house prices only tell half the story \u2013 when you look more granularly, some areas have seen substantially stronger growth.<\/p>\n

According to recent\u00a0realestate.com.au\u00a0data, more than 250 suburbs across Australia have seen house prices increase by $200,000 or more over the past 12 months.<\/p>\n

A lucky 24 suburbs saw their prices soar to $50,000 and beyond each month \u2013 most of those in NSW.<\/p>\n

The highest of all rose by $1.2 million in a year \u2014 which is more than $100,000 a month.<\/p>\n

Australia\u2019s most expensive state, New South Wales, accounted for 88 per cent of these $50,000-plus monthly growth suburbs.<\/p>\n

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