Perth’s property market has continued its strong upward trajectory, with the number of suburbs recording a median house price of $1 million or more rising sharply in 2025.

Record Growth in Million-Dollar Suburbs

By the end of the year, 126 Perth suburbs had entered the million-dollar bracket, following the addition of 32 suburbs over the past 12 months. The majority of these were first-time entrants, while Northbridge and Wattleup returned to the list after previously dropping below the threshold.

Price Growth Across Greater Perth           

The rapid expansion reflects another year of strong price growth. Median house prices rose 13.3 per cent in 2025, following an even stronger 25 per cent increase in 2024, underscoring sustained demand and limited housing supply.

Changing Landscape of Premium Suburbs

Market conditions have significantly altered the traditional makeup of Perth’s premium suburbs. While only a small number of locations typically join the million-dollar group each year, recent growth has accelerated the pace, pushing prices higher across a broader range of areas.

Looking ahead, continued price momentum could see the club expand even further. If current trends persist, the number of million-dollar suburbs may approach 150 by the end of 2026, highlighting the evolving affordability landscape for buyers.

Suburbs Falling Below the Threshold

Not all suburbs retained their position. Karawara, Carmel, and Bickley fell below the $1 million mark after experiencing price softening, while Mariginiup, Hovea, and Millendon dropped off the list due to a lack of qualifying sales during the year.

Standout Performers

Among the standout performers, Samson recorded the strongest growth of all new entrants, with its median house price jumping 40.5 per cent to $1.25 million. Other suburbs showing notable gains included Brentwood, Serpentine, Roleystone, and Maylands, each posting annual growth well above the market average.

Top-End Market Leaders

At the top end of the market, Peppermint Grove maintained its position as Perth’s most expensive suburb, finishing 2025 with a median house price of $5.1 million. Dalkeith, City Beach, and Cottesloe followed closely behind, reinforcing their long-standing premium status.

Conclusion

The expanding million-dollar club reflects a fundamental shift in Perth’s housing market, with more suburbs transitioning into higher price brackets and reshaping buyer expectations across the metropolitan area.

Source: REIWA. Data based on settled house sales under one hectare for the 12 months to December 2025