A record 30 suburbs joined Perth’s million-dollar club in 2023-24, bringing the total to 87 suburbs with a median house sale price over $1 million.
According to REIWA president Joe White (pictured above), this surge reflects Perth’s robust price growth, with an 18.8% increase in the median house price over the past year.
Among Perth’s 87 million-dollar suburbs, Karawara experienced the strongest price growth, with a 43.5% increase.
White attributed this to the suburb’s proximity to the Canning River, Curtin University, and recent upgrades to Waterford Plaza, which have increased its appeal.
“Properties have also undergone renovation and revitalisation in recent years, helping boost prices in the area,” he said.
Peppermint Grove retained its position as Perth’s most expensive suburb, with a median house price of $3.7 million. Cottesloe and Dalkeith followed closely, both with median prices of $3.5 million.
Perth’s most expensive sale in 2023-24 was a home at 3 Owston Street, Mosman Park, which sold for an impressive $22 million, cementing the city’s growing luxury property market, REIWA reported.
To read the REIWA report in full and to see the complete list of the 30 suburbs joining Perth’s million-dollar club, visit the organisation’s LinkedIn post or website.
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