PHOTO: Teneriffe is set to become the first Brisbane suburb to hit the $2m median house price

It’s no longer enough to be a millionaire to own property in suburbia.

As we continue our pursuit of the great Australian dream of home ownership, and increasingly view property as the ideal way to grow wealth, some unlikely, lesser known suburbs are set to crack the $2 million median house price.

It is another indication of a resurgent property market.

“A suburb with a $1 million median used to be considered a premium suburb, but this is no longer the case in Sydney,” REA Group chief economist Nerida Conisbee said.

“In Sydney, even $2 million is unlikely to get you into a premium suburb. with Rosebery, a previously industrial suburb close to Sydney airport likely to hit that level over the next couple of years, perhaps earlier.