Million Dollar Perth Suburbs

Despite a severe property market slowdown Perth now boasts a whopping 39 suburbs with a median value of $1 million or more.

According to Corelogic the latest figure for the Perth property market (at the end of July) were:

Median house price: $530,000;  0.1% increase in last 12 months.
Median unit price: $420,000; -5.7 % fall in last 12 months.
Vacancy Rate: 3.8%

Not really very impressive results when you compare them to Sydney (+18.4%) or the Melbourne property market (+11.5%).

After a long period of strong capital growth the Perth housing market has recorded a significant slowdown and these conditions are likely to continue with transaction numbers falling and decreasing confidence.

And figures from CoreLogic show that while eight areas dropped off the million-dollar median value list, there were plenty to take their place.

Earlier this year, Perth had 35 suburbs with a median price of $1m or more, now there are 39.

PERTH SUBURBS WITH $1 MILLION MEDIAN VALUE

  • Peppermint Grove (Local Government: Peppermint Grove) $3,504,996
  • Dalkeith (Nedlands) $2,470,530
  • Cottesloe (Cottesloe) $1,827,426
  • City Beach (Cambridge) $1,739,380
  • Swanbourne (Nedlands) $1,611,589
  •  Nedlands (Nedlands) $1,611,479
  • Applecross (Melville) $1,466,551
  • Floreat (Cambridge) $1,390,566
  • Mount Claremont (Nedlands) $1,390,013
  •  East Perth (Perth) $1,358,852
  • Churchlands (Stirling) $1,356,627
  • Mosman Park (Mosman Park) $1,343,313
  • Watermans Bay Stirling) $1,244,469
  • Salter Point (South Perth) $1,240,042
  • Attadale (Melville) $1,235,020
  •  Subiaco (Subiaco) $1,205,868Property Update
  • North Coogee (Cockburn) $1,198,809
  • Rossmoyne (Canning) $1,185,556
  • Claremont (Claremont) $1,184,388
  •  East Fremantle (East Fremantle) $1,183,224
  • Trigg (Stirling) $1,172,756
  • 303 Coolbinia (Stirling) $1,161,980
  • 316 Menora (Stirling) $1,140,442
  • 328 Shenton Park (Subiaco) $1,125,820
  • 331 Gnangara (Wanneroo) $1,114,542
  • 334 Wembley Downs (Stirling) $1,108,668
  • 337 Wembley (Cambridge) $1,104,603
  • 348 West Leederville (Cambridge) $1,097,028
  • 352 Daglish (Subiaco) $1,087,625
  • 354 South Fremantle (Fremantle) $1,085,193
  • 359 North Fremantle (Fremantle) $1,083,336
  • 368 Mount Pleasant (Melville) $1,067,481
  • 376 Waterford (South Perth) $1,056,960
  • 379 Woodlands (Stirling) $1,055,736
  • 380 Shelley (Canning) $1,052,115
  • 383 South Perth (South Perth) $1,048,743
  • 399 Bicton (Melville) $1,029,210
  • 416 Ardross (Melville) $1,015,014
  • 430 Mount Lawley (Stirling) $1,005,186


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About

Michael is a director of Metropole Property Strategists who create wealth for their clients through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


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