31 Perth suburbs now have a median house sale price over $2 million

REIWA has launched a $2 million club for suburbs with a median house sale price* of $2 million or more. REIWA’s million-dollar club will now include suburbs with a median house sale price of $1 million and less than $2 million.

REIWA President Suzanne Brown said with Perth’s million-dollar club continuing to grow, it made sense to create a separate list for the increasing number of suburbs with median house sale prices of $2 million or more.

“A record 31 Perth suburbs had a median house sale price of $2 million or more in the year to June 2026,” she said.

“This compares with 22 suburbs when the previous million dollar club list was published earlier this year, and just three suburbs five years ago.

“Ten suburbs saw their median house sale price exceed $2 million for the first time since the end of 2025. They were Attadale, Bicton, Daglish, Jolimont, Marmion, North Beach, Rossmoyne, Salter Point, Wembley Downs, and West Leederville.

“Oakford exited the club, with its median house sale price falling below $2 million.

“As Perth’s market eases, there may be fewer new entrants when we review the list in early 2027. There may also be several suburbs that see their median house sale prices fall back below $2 million. However, we believe Perth’s strong price growth over the past few years warrants an ongoing separate list for suburbs with median house sale prices of $2 million or more.”

Peppermint Grove retained its position as Perth’s most expensive suburb, with a median house sale price of $6,575,000 at the end of 2025-26. The suburb recorded median house sale price growth of 68.2 per cent over the year.

Peppermint Grove is the first Perth suburb in REIWA’s records to record a median house sale price over $6 million.

Ms Brown noted while the area had recorded incredible growth, the increase in median house sale price was a reflection of both an overall increase in property values along with the mix of properties that had sold during the financial year.

“Median house sale prices can fluctuate from year to year, depending on the types of property that sold in that time period. This means you will sometimes see large increases or decreases in median house sale prices, particularly in suburbs with low numbers of sales in a reporting period,” she said.

“REIWA members say, while values have increased in Peppermint Grove, recent sales have been of large landholdings, which has contributed to the suburb recording a median house sale price over $6 million.

“This demonstrates why, if you are thinking of selling, you should speak to a local REIWA agent about the conditions in your suburb and how your home compares to recent sales.

“For example, a 25 per cent jump in the median house sale price for your suburb doesn’t guarantee your home will experience a similar increase. Likewise, a 10 per cent fall doesn’t mean you cannot achieve a good price result for your home.”