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AAP

Ben McKay

EXPLAINED: Million buck benchmark loses sparkle in house value run | Rare Historical Photos

Australia Queensland Cotality

One in three suburbs boast a median million-dollar price tag, according to new data. (Dan Himbrechts/AAP PHOTOS)

Million-dollar homes are increasingly commonplace in Australia, with new research showing roughly one in every three suburbs pack a median seven-figure price tag.

According to a new paper by Cotality, 195 suburbs have jumped into the exclusive club after strong housing market gains over the last 12 months.

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