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.

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.

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