The coast of Sydney could be offering the next big thing in terms of prestige property, according to the findings of a study.
The Domain Group House Report for June revealed that the eastern beachside suburb of Bronte has emerged as one of the strongest-performing areas.
It made its way onto Sydney's small and exclusive $3 million club by attaining a median house value of $3.49 million in the 12 months ending in June.
The next strata of ten suburbs all had an average house price of between $2.5 and $3 million - and four of them were also beachside locations.
This would appear to suggest that those suburbs nudging just under the highest category could be the ones to watch in the future for those who wish to identify the next big prestige property areas.
Clovelly was among these strong performers with a median house price of $2.97 million, followed by North Bondi with $2.85 million, Coogee with $2.78 million and Manly with $2.76 million.
Dr Andrew Wilson, chief economist for the Domain Group, said it was not surprising to see Bronte included in the top ten suburbs in Sydney.
"Today everyone equates Bronte as the home of movie stars so it is not an unlikely candidate," he remarked.
Indeed, Mentalist star Simon Baker is one of the suburb's newest residents, as he bought a property last year for $6.5 million.
Another area that made a mark was Millers Point, with a median house price of just under $2.59 million. The suburb is bordered by the city centre and harbour - and is undergoing a major transformation.Public housing is being sold off - and terraces in the suburb have been changing hands for $1 million at auction. A Lower Fort Street property sold for $6.1 million.