Eight suburbs join Perth’s coveted million dollar club in 2023
31 January 2024"REIWA CEO Cath Hart said all eight suburbs have been edging closer to the million dollar mark over the past decade."
Iluka, Shelley, Alfred Cove, Coogee, Melville, Bedfordale, Ocean Reef and White Gum Valley are the latest additions to Perth’s million dollar club, joining returning chart-toppers Peppermint Grove, Cottesloe, Dalkeith and City Beach.
REIWA CEO Cath Hart said all eight suburbs have been edging closer to the million dollar mark over the past decade.
“Many of these suburbs have seen expansion and development in recent years, driving up prices in these areas,” she said.
“Shelley saw the highest sales price growth of the newcomers, with its median house sale price rising 30.9 per cent from $897,000 in December 2022 to $1,175,000 in December 2023.”
According to www.reiwa.com data, Shelley’s most expensive sale for 2023 was 225 Riverton Drive North, selling in March for $3,150,000.
Iluka was the next best performing newcomer, with 19.1 per cent annual growth, followed by Coogee (14.1 per cent), Bedfordale (11.4 per cent) and Ocean Reef (8.9 per cent).
Peppermint Grove claimed first place in this year's million-dollar club, with an annual median house sale price of $4,000,000. The suburb saw sales price growth of 23.5 per cent over the year.
Ms Hart said the suburb has been a perennial chart topper, claiming the number one spot every year in the past decade, with the exception of 2022 where it placed second to Dalkeith.
Peppermint Grove’s most expensive sale in the 12 months to the end of December 2023 was 41 Keane Street, which sold for $11,350,000 in January.
Two suburbs saw their median sale price drop below $1,000,000 in 2023, with Burswood and Highgate departing the million dollar club.
Ms Hart said Burswood departs the million dollar club after having appeared twice prior and Highgate once prior in the past 10 years.
“Prices fluctuate from year to year, depending on what is selling in that time period, and we regularly see suburbs around the million dollar mark come and go from the list,” she said.
“With Perth expecting strong price growth around 10 per cent this year, it will be interesting to see which suburbs make the list next year.”
Perth’s most expensive sale* in 2023 was 18 Richardson Avenue, Claremont, which sold in August for $13,300,000.
| SUBURB | 2023 MEDIAN HOUSE PRICE |
| Peppermint Grove | $4,000,000 |
| Cottesloe | $3,300,000 |
| Dalkeith | $3,300,000 |
| City Beach | $2,580,000 |
| Swanbourne | $2,315,000 |
| Nedlands | $2,000,000 |
| Applecross | $1,925,000 |
| Mosman Park | $1,910,000 |
| Claremont | $1,825,000 |
| South Perth | $1,800,000 |
| Trigg | $1,773,000 |
| Mount Claremont | $1,765,000 |
| Churchlands | $1,722,500 |
| Floreat | $1,703,000 |
| Shenton Park | $1,685,000 |
| North Fremantle | $1,665,000 |
| Subiaco | $1,643,000 |
| East Fremantle | $1,635,000 |
| Daglish | $1,570,000 |
| North Beach | $1,520,000 |
| Attadale | $1,500,000 |
| Wembley Downs | $1,492,500 |
| Rossmoyne | $1,480,000 |
| Jolimont | $1,465,000 |
| Wembley | $1,464,000 |
| Mount Pleasant | $1,450,000 |
| Salter Point | $1,425,000 |
| North Coogee | $1,420,000 |
| Menora | $1,407,500 |
| Coolbinia | $1,400,000 |
| Marmion | $1,395,000 |
| Sorrento | $1,375,000 |
| East Perth | $1,370,000 |
| West Leederville | $1,350,000 |
| South Fremantle | $1,337,500 |
| Bicton | $1,310,000 |
| Crawley | $1,300,000 |
| Mount Lawley | $1,300,000 |
| Winthrop | $1,282,500 |
| Watermans Bay | $1,275,000 |
| Gwelup | $1,225,500 |
| Mount Hawthorn | $1,210,000 |
| Woodlands | $1,210,000 |
| Iluka | $1,190,000 |
| Kensington | $1,180,000 |
| Shelley | $1,175,000 |
| North Perth | $1,170,000 |
| Hillarys | $1,151,000 |
| Booragoon | $1,150,000 |
| Karrinyup | $1,150,000 |
| Carine | $1,140,000 |
| Waterford | $1,137,500 |
| Leederville | $1,125,000 |
| Fremantle | $1,102,500 |
| Como | $1,075,000 |
| Alfred Cove | $1,057,500 |
| Ardross | $1,050,000 |
| Burns Beach | $1,050,000 |
| Coogee | $1,050,000 |
| Melville | $1,032,500 |
| Bedfordale | $1,025,000 |
| Ocean Reef | $1,005,000 |
| White Gum Valley | $1,005,000 |
Filtered for suburbs with median house prices greater than $1,000,000 for the 12 months to December 2023.
For more information on these, or any other suburb, visit the Insights page on www.reiwa.com, where the median prices and other data is updated daily, or contact a local REIWA agent.
* Houses sold in 2023 to 18 December 2023. Pending sales not included. Source: REIWA.
