5 suburbs with $1m-plus prices

A unique sale with plenty of investor appeal saw one Australian suburb record an auction sale price in excess of $5 million last weekend. 

APM PriceFinder revealed the most expensive auctions from last weekend, with two adjoining properties, sold together, in Melbourne's exclusive eastern suburbs fetching a massive $5.52 million on Saturday. 

The property consisted of a federation family home and a two-storey brick house, with the latter touted as an income-generating opportunity for any future owner. 

"Multiple options to immediately rent out, new home site/develop – subject to council approval – or make use of one of the rare double blocks available in Canterbury and utilise an enormous garden area," the listing advertisement stated. 

Sold by Marshall White, the property includes a pool and outdoor entertaining area on the huge 1,479-square-metre block. 

The sale price compares with a current median house price of $2,341,500 for the suburb, according to CoreLogic RP Data. 

The best results for Australia's five leading capital city auction markets are below (listed in descending order). 

1. Melbourne 

2-4 Mangarra Road, Canterbury, VIC

2. Sydney

51-53 Edgecliffe Boulevard, Collaroy Plateau, NSW

3. Brisbane

56 Bank Road, Graceville, Qld

4. Canberra 

9A Ducane Street, Forrest, ACT

5. Adelaide

6 Joslin Street, Wayville, SA

Read more: 

'Living off $200 got me my first property' 

3 properties discounted by more than 30%

Once-in-a-century sale

5 suburbs with $1m-plus prices
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