Once upon a time forking out a million dollars on a house in Perth would guarantee you waterfront views and a pool.
For buyers now, that’s merely a fairytale.
In fact, the property market is so strong right now that you would need to cough up that much money to secure a home in a whopping 87 Perth suburbs.
That’s after a record-breaking 30 suburbs were added to the city’s million-dollar club — including inland suburbs such as Murdoch, Bull Creek, West Swan and Oakford.
Data from the Real Estate Institute of WA shows that about a quarter of all Perth suburbs now have a median house price tag of $1 million or more, thanks to the unprecedented number of new entrants in the last financial year.
To put the 30 new entrants in context, only two suburbs joined the list in 2022-23.
REIWA President Joe White said the latest list of million-dollar suburbs reflected Perth’s extremely strong price growth over the past 12 months.
“Under normal market conditions, you can expect to see a few new suburbs join the million club each year as their prices rise due to improved amenity or infrastructure, growing popularity for certain lifestyle features, or as a flow-on effect from price growth in neighbouring suburbs,” he said.
“However, this financial year, house price growth in Perth has accelerated, and the median house price has increased 18.8 per cent,” he added.
Perth’s Million Dollar Club
Peppermint Grove $3,700,000
Cottesloe $3,500,000
Dalkeith $3,500,000
City Beach $2,775,000
Swanbourne $2,405,000
Claremont $2,300,000
Nedlands $2,300,000
Jolimont $2,000,000
Applecross $2,000,000
Mosman Park $1,955,000
Floreat $1,910,000
Shenton Park $1,882,500
Subiaco $1,850,000
Mount Claremont $1,820,000
Churchlands $1,802,500
Marmion $1,790,000
Trigg $1,790,000
South Perth $1,784,500
Attadale $1,750,000
North Fremantle $1,700,000
Daglish $1,677,500
North Beach $1,677,500
East Fremantle $1,650,000
North Coogee $1,650,000
Coolbinia $1,630,000
Mount Pleasant $1,607,500
Rossmoyne $1,580,000
Wembley $1,560,000
Watermans Bay $1,545,000
Menora $1,517,500
Sorrento $1,507,500
East Perth $1,500,000
Oakford $1,490,000
Wembley Downs $1,475,000
Mount Lawley $1,470,000
South Fremantle $1,440,000
Salter Point $1,430,000
West Leederville $1,410,000
Gwelup $1,400,000
Bicton $1,380,000
Winthrop $1,376,500
Woodlands $1,360,000
Crawley $1,300,000
Booragoon $1,277,500
Leederville $1,270,000
Shelley $1,260,000
Highgate $1,252,500
Ardross $1,250,000
Mount Hawthorn $1,250,000
Karrinyup $1,235,000
Iluka $1,225,000
North Perth $1,225,000
Kallaroo $1,221,000
Alfred Cove $1,215,000
Burns Beach $1,215,000
Carine $1,214,000
Waterford $1,210,000
Kensington $1,201,000
Como $1,200,000
Fremantle $1,200,000
Hillarys $1,200,000
White Gum Valley $1,182,500
Karawara $1,155,000
Melville $1,150,000
Coogee $1,135,000
Perth $1,130,000
Stirling $1,125,000
Mullaloo $1,120,000
Inglewood $1,117,500
Manning $1,115,000
Myaree $1,105,000
Carmel $1,100,000
Murdoch $1,100,000
West Swan $1,100,000
Bull Creek $1,095,000
Burswood $1,095,000
Ocean Reef $1,090,000
Cardup $1,067,500
Scarborough $1,067,500
Duncraig $1,060,000
Darlington $1,050,000
Bedfordale $1,025,000
Gooseberry Hill $1,020,000
Leeming $1,020,000
Willetton $1,020,000
West Perth $1,015,000
Ascot $1,000,000
Source: REIWA