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The number of suburbs with $3 million-plus median price tags has doubled again in 2021, according to new analysis by realestate.com.au, with Sydney dominating:
The number of suburbs with median house sale prices over $3 million doubled during 2020, with the luxury residential market experiencing particularly strong conditions as people saved more and total household wealth grew.
The $3 million-plus club has doubled again this year amid boom conditions in the overall housing market and the luxury sector.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.