The South Coast has featured heavily in Corelogic’s top newcomers of regional NSW suburbs with a median house price of over a million dollars.
Bawley Point headlines the list with a median value of $1,185,000 which is $100,000 better than the next best, Broulee in the Eurobodalla and Mirador in the Bega Valley.
Tomakin values increased by more than $300,000 over the 12 months to May.
Malua Bay, Lilli Pilli and Bermagui all went up by just shy of $300,000.
Rounding out the million dolllar market on the South Coast was Tura Beach, where values have increased by an average of $256,000.
In the 12 months to May 2022, national dwelling values rose 14.1%, with growth favouring regional areas (22.1%) over capital cities (11.7%) and houses (15.6%) over units (8.7%).
This saw the total value of the national real-estate market rise to $9.97 trillion in May, with residential real estate accounting for 57.6% of household’s wealth though the March 2022 quarter.
Amidst heightened inflation, rising interest rates and plummeting consumer confidence, the market has shifted into the downward phase of the cycle in recent months, with national values falling -0.1% over the month of May.
LIST OF SOUTH COAST SUBURBS NOW ON THE MILLION DOLLAR PLUS LIST
Property Type for all below: Houses
Suburb: Bawley Point
Median Value May 2022: $1,185,532
Median Value May 2021: $767,885
Median Value May 2022: $1,061,951
Median Value May 2021: $746,798
Median Value May 2022: $1,054,247
Median Value May 2021: $811,652
Median Value May 2022: $1,030,887
Median Value May 2021: $723,944
Suburb: Malua Bay
Median Value May 2022: $1,022,640
Median Value May 2021: $724,899
Suburb: Tura Beach
Median Value May 2022: $1,016,341
Median Value May 2021: $759,883
Median Value May 2022: $1,011,772
Median Value May 2021: $720,674
Suburb: Lilli Pilli
Median Value May 2022: $1,011,220
Median Value May 2021: $719,961
Suburbs with less than 20 sales observations, and low confidence in the median valuation have been excluded.
List is a comparison on median values as at May 2021 and May 2022.
Suburbs may have previously made the million-dollar list at another point in time. Suburbs only included where minimum observations met for both May 2021 and 2022.
There may be cases where the million-dollar suburb only makes one list or the other, these were included in overall count of million-dollar suburbs graph but not reflected in the suburb breakdown list.
*New South Wales Data contains property sales information provided under licence from the Land and Property Information (“LPI”). CoreLogic is authorised as a Property Sales Information provider by the LPI.