Million-dollar house prices are becoming the new normal among the nation’s fastest growing suburbs, as rising property values leave buyers with fewer affordable options.

About half of the top 30 capital city suburbs for house price growth in the past year had median prices of $1 million or more, the latest PropTrack data shows.

It's a shift in the trend seen over recent years, when suburbs with the strongest price growth in percentage terms fell toward the more affordable end of the market. For several years, most of the suburbs with the fastest house price growth were priced around the $500,000 mark .

With prices having risen strongly in more affordable suburbs, growth has slowed a little and some hot suburbs come off the boil , with pricier areas taking their place on the leaderbo

See Full Page