Entry level: 29 new suburbs joining $2m club ‘hardly luxury’

Dozens of suburbs across the country have entered the $2 million property club this year, but that doesn’t necessarily mean residents are living a life of luxury.Despite the multimillion-dollar price tag, buyers in many of these locations can expect to secure a modest or entry level house for around $2 million, and in some cases, a complete knockdown project.Analysis of realestate.com.au data shows the median house price reached $2 million in 29 suburbs across the country between January and the end of June.In total, there are now more than 400 suburbs where a buyer needs a budget of at least $2 million to purchase a typical freestanding home.New South Wales accounted for the highest proportion of new entries with 11 suburbs entering the $2m club in the past six months, followed by Queensland with nine, and six in WA.Suburbs that have entered the million dollar club this yearSource: Source: realestate.com.au | Only includes suburbs with at least 10 sales and suburbs that hit $2m from Jan 2026 - Jun 2026. Current median sale price is calculated in the 12 months ending June 2026.SuburbStateCapital city or regional areaRegion (SA4)Median house priceAlfords PointNSWGreater SydneySydney...