Australia’s millionaire hotspots are not necessarily where you think they may be. The latest surprise is that Military Road in New South Wales is at the top of the list for million dollar homes and buyers. This road has taken over Raglan Street placing it in 2nd place which had the top spot last year.
The top 10 list is now dominated by 9 streets from New South Wales which also includes 5 brand new entries. The richest suburb is awarded to Cremorne which was in ninth last year. The only other state to make this list was WA as Peppermint Grove held on to eighth place The biggest increase was a whopping 7.14% of million dollar properties in Neutral Bay.
It’s interesting for us to see these new streets in Australia’s million dollar property check especially as some are not even in the expected million dollar suburbs. It is a fact I have just checked that none of them are. The interest rates are low so it’s no surprise many houses have made it to the million dollar list. Many of the suburbs and streets listed are a surprise to us.
There’s also the possibility that some of the residents in these streets and suburbs do not even know their new millionaire status in the property market. So in this current climate of low interest rates it’s worth checking out the value of your home, and the status of the suburb you live in. Or it might be you may prefer to invest in these streets and suburbs to gain a certain millionaire status or simply want to live there.
At Pierre Finance we can assist you in all your property financial needs from the initial meeting we will take personal care of the process, allowing you to relax while we do all the work.