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.