“ The data indicates a spike for $ 1 million suburbs in 2021 , following substantial price increases across many areas .
“ Between 2019 and 2024 , the $ 1 million suburbs doubled . However , from 2021 to 2024 , there was an 18 per cent decrease for $ 1 million suburbs , with only four out of five retaining the status .”
Go Tian says that if this trend persists , the likelihood of an increase of $ 1 million in suburbs over the next 12 months appears slim . “ Many suburbs risk losing their million-dollar status , contrasting sharply with those aspiring to achieve it .”
“ Nevertheless , having raised the question , we ’ ve identified 10 suburbs with the greatest potential to exceed the $ 1 million mark within the next 12 months .”
The rural community of Ohakuri in Taupō currently has a median house price of $ 998,000 , and has seen an average growth rate of 15.70 per cent over the last three years . If this trend continues , we can anticipate homes in the area will hit just over $ 1 million within the following year .
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