One in every four homes across Australia is now worth $1 million or more, with property owners adding hundreds of thousands of dollars to their net wealth during the pandemic.
The valuation of the nation’s housing stock provided to The Sydney Morning Herald and The Age by research house CoreLogic has revealed property owners in greater Sydney are now more likely than not to have a million dollar home, with 52 per cent of homes worth seven figures. In greater Melbourne, more than a third of homeowners can make the claim their property is worth over this amount.