MORE THAN 1 IN 5 HOMES SOLD FOR +$1 MILLION
In the year to May, an additional 497 markets joined the million-dollar club.
By
Fri, Jul 1, 2022 2:53pm
2 min
2 min
A record number of Australians spent $1 million or more to purchase a home in the past 12 months according to CoreLogic’s annual Million Dollar Markets report.
Over the year to March 2022, CoreLogic collected 596,733 sales nationally up 19.8% from the 497,923 recorded over the previous year. Of those sold this year, 23.8% sold for $1 million or more.
In the year to May, an additional 497 markets 450 houses and 37 unit markets) joined the million-dollar club bringing the total markets to 1367 or 30.4% of house and unit markets analysed in May to a median value of $1 million or more.
“High consumer sentiment, tight advertised supply, and low-interest rates fuelled strong home value growth throughout 2021, resulting in a new record high annual growth rate of 22.4% over the 12 months to January,” said CoreLogic Research Analyst Kaytlin Ezzy.
“Despite values having risen across all capital cities and rest of state areas annually, we have seen a divergence in growth conditions across markets over the year to date.
“Since January, dwelling values across Sydney and Melbourne have started to decline, while values have continued to rise across South Australia and Queensland. More recently, Canberra, which had previously recorded many months of consecutive growth, recorded its first falls in dwelling values in some years in May.”
Sydney suburbs made up 26.3% of the new million-dollar markets with more than half of all Sydney sales over the 123 months to May transacting at or above $1 million.
In Sydney, 448 house and 104 unit markets have a current median value of $1 million dollars or higher, an increase of 26.6% from the previous year. The new million-dollar markets are largely concentrated in the city’s South West (30) and Outer South West (15) as well as the Central Coast region (20).
In the year to May, 51.9% of transactions in Sydney sold for $1 million or more. Bellevue Hill in Sydney’s Eastern Suburbs is the most expensive house market, both across Sydney and nationally, with a current median value of $8,024,682.
Elsewhere, in Melbourne 212 house and 11 unit markets had a median value at or above $1 million in May majority of which are located in Melbourne’s Inner (39), Inner South (42), Inner East (30) and Outer East (30).
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The actress, who felt a ‘spiritual calling’ to the Harrison, N.Y., property, is asking $4.99 million for the home.
By Katherine Clarke
Thu, Mar 26, 2026 3 min
3 min
Two years ago, fed up with the long drive to the Hamptons, the actress and daytime talk-show host Drew Barrymore started looking for a weekend home in Westchester County.
When she saw a circa-1700s mansion for sale, Barrymore said, she felt a karmic connection to the Harrison, N.Y., property.
“I walked in, and I was, like, ‘I know my family’s been here. I know that I have to work on this house. I know that I’m supposed to be doing this,’” said Barrymore, 51 years old, who lives primarily in Manhattan with her two daughters. “It was like a strange, spiritual calling.”
It turned out she actually did have a connection to the area: Her great-aunt, the late actress Ethel Barrymore, had a home in nearby Mamaroneck, where an enclave known as Barrymore Lane is widely believed to be named for the family.
Barrymore bought the roughly 12-acre estate for $4.4 million, according to property records. She did an extensive renovation; she has a deep interest in interior design and has considered pursuing it professionally. “Between Pinterest, thrifting and a can of paint, there’s nothing you can’t do,” Barrymore said with a laugh.
But roughly two years later, the actress is listing the property for $4.99 million. The renovation took longer than expected, she said, and the family’s lives have changed in the interim.
The estate includes a roughly 5,600-square-foot, five-bedroom main house, a pool and a poolhouse with an additional bedroom, according to Kori Sassower of Compass.
Barrymore said she previously owned a home in Sagaponack, N.Y., but the distance from the city and the weekend traffic to the Hamptons became untenable as her children’s schedules filled up with social and sporting activities.
Harrison, by contrast, offered accessibility and charm. The property, located roughly an hour from Manhattan, is a short drive from picturesque Rye and Bronxville, while nearby Bedford has drawn celebrities. The median sales price for a home in Harrison is around $1.1 million, according to Redfin.
The property’s expansive acreage gave Barrymore a sense of being close to nature. “It’s really like being in your own personal park,” she said. “There are tons of deer. There are pheasants, there are ducks, there are rabbits.”
When she purchased the home, Barrymore said, she thought it would need only a cosmetic renovation. Instead, it turned into a “complete internal gut,” with much of the plumbing, heating and air conditioning replaced, she said.
Barrymore also revamped the ground floor to open up the kitchen, which felt dark and boxed in. “It took a year of engineering to figure out how to accomplish it,” she said.
Barrymore declined to comment on the exact costs of the renovation, but compared herself to actress Shelley Long’s character in the 1986 film “The Money Pit.”
Some of the rooms have maximalist patterned wallpaper, elaborate art walls and heavy, old-fashioned draperies. Others are minimalist. “Every little corner gets scrutinised for what it could be,” she said. “If I see a closet, it’s probably not a closet, it’s going to become some secret hideout for my kid, or I’m going to take the door off and turn it into a sculptural piece.”
In the home’s living room, Barrymore said she cycled through multiple paint colours, including pink and green.
“I painted it all green because I was dying for greenery. And then the summer came, and I was, like, ‘Oh, God, everything is green!’”
She spent time at the property even while it was under construction. When they didn’t have a kitchen, the family cooked dinner on a grill outside and drank boxed water, she said.
When workers were redoing the pipes, Barrymore couldn’t shower. “I lived in the house in the most primitive of scenarios,” she said. “It’s some of my favourite times and memories.”
When Barrymore celebrated her birthday at the property in February, she and two friends decided to grill for old time’s sake, even though the kitchen was fully functional.
“There we were in zero-degree weather with parkas, hoodies, gloves and face masks. But we were, like, ‘We gotta do it. It’s the tradition.”
Barrymore, who grew up in Los Angeles, stars in films like “Never Been Kissed,” “Riding in Cars With Boys” and “Charlie’s Angels.” Her eponymous daytime talk show launched in September 2020.
Sassower is listing the property with her colleague Brian K. Lewis in New York City.
