Latest NewsAustralia home to more $1 million-plus houses than ever before: CoreLogicMonday, 02 April 2018

 

 

The share of properties worth more than $1 million was at a record high in Australia in 2017.

In the year to December 2017, 16.1 per cent of all houses in Australia, and 9.5 per cent of all units, sold for more than $1 million, according to new research from CoreLogic.

By comparison, in the year to 2016, 14.8 per cent of houses and 8.1 per cent of units sold for more than $1 million.

In 2017, more houses and units sold for more than $1 million than sold for less than $200,000, says CoreLogic.

In Australia's capital cities, 23.8 per cent (21.7 per cent in 2016) of all houses and 11.6 per cent (9.8 per cent) of all units sold for more than $1 million.  Five years ago, only 9.8 per cent of all houses and 3.9 per cent of all apartment had price tag of more than $1 million.

In regional areas, the percentage of homes selling for more than $1 million remains relatively low. Only 4.6 per cent of houses and 3.8 per cent of units in regional markets sold for more than $1 million in 2017.

 

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