CoreLogic research analyst Caytlin Ezzy released the Million Dollar Markets report that details which suburbs across the country have median house and unit prices that exceed $1 million.

The data shows which suburbs are "newcomers" from May this year, compared to May, 2021.

Jerrabomberra and Bungendore made the list this year, with an increase in more than $270,000 in house prices in both suburbs.

Related: 'Knife-edge': Here's how the price of housing and rent has changed in Queanbeyan over the past decade

Ms Ezzy said there were different factors that influenced the price jump, such as affordability compared to Sydney and Canberra and lifestyle options.

"Anecdotally there's no denying how important community, space and lifestyle have become during the past two years," she said.

"Areas such as...Bungendore's thriving arts and cultural scene, wineries and fresh local produce have likely help drive demand across the region."

Jerrabomberra had the highest median value of $1,256,386, which grew from $968,878 in May, 2021.

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Bungendore's median house price rose from $863,865 to $1,137,961 this year.

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