The following article on RealEstate lists out Australian suburbs where home prices have risen more in the last 12 months than the owners' annual salaries - https://www.realestate.com.au/news/the-suburbs-where-homes-are-earning-more-than-their-owners.
See 2 suburbs below where prices rose significantly between 2022 and 2023 -
Bellevue Hill, NSW prices increased by $635,000 in 12 months
Glenelg South, SA prices increased by $480,000 in 12 months
This demonstrates significant growth in Australia's premium suburbs.
