Perth’s Million-Dollar Club Grows: 27 New Suburbs Join in 2025

The Perth property market continues its upward trajectory, with 27 new suburbs entering Western Australia’s “million-dollar club” over the 2024–25 financial year. That brings the total number of Perth suburbs with a median house sale price of $1 million or more to 113 — meaning over one-third of our city’s suburbs now sit at or above that milestone.

While it may sound daunting to house hunters, REIWA President Suzanne Brown reminds buyers that the median figure simply marks the halfway point — meaning half of the sales were still under the million-dollar mark. Even in premium suburbs, opportunities exist for buyers willing to be patient or consider smaller dwellings like villas or units.

Why the Growth?

According to REIWA, this growth is no surprise. Perth’s booming population, low housing supply, and continued buyer demand have pushed prices higher across the metro area. Suburbs that once sat comfortably in the mid-range now find themselves with seven-figure medians.

Among the most eye-catching milestones:

• City Beach surpassed the $3 million median mark.

• Trigg, Shenton Park, and Watermans Bay crossed into the $2 million bracket for the first time.

• Peppermint Grove retained its crown as Perth’s most expensive suburb, with a median of $4.225 million.

What It Means for Buyers

If your budget doesn’t quite stretch to these rising prices, don’t be discouraged. Ms Brown suggests expanding your search to nearby “bridesmaid suburbs”, those adjacent to premium areas that offer similar amenities at slightly more accessible price points.

These areas often offer excellent value and future growth potential as demand ripples outward from top-tier locations.

What's Next?

Given the continued imbalance between supply and demand, REIWA expects the million-dollar list to keep growing through the remainder of 2025. Suburbs close to the threshold, such as Guildford, Kingsley and Darch, could be next in line.

Let Adaptive Settlements Guide You

Whether you're buying into a million-dollar postcode or securing your first home in a growth suburb, Adaptive Settlements is here to guide you every step of the way. Our expert team provides stress-free, personalised settlement services across Perth and Western Australia.

Get in touch today and let us help you navigate your next property transaction with confidence.

Source: REIWA