The Perth property market continues to defy expectations, with a growing number of suburbs joining the ranks of those with median house prices exceeding $1 million. Samson, a suburb east of Fremantle, is the latest to reach this milestone, experiencing a remarkable $500,000 surge in property values over the past year, according to data released on .
Samson’s ascent into the “million-dollar club” is part of a broader trend that saw 32 suburbs in Western Australia achieve this status for the first time last year. This brings the total number of Perth suburbs with a median house price above $1 million to 126, a significant increase from the 113 recorded just months prior in July 2025. The median house price in Samson now stands at $1.25 million, representing a substantial 40.5% increase year-over-year.
While Samson’s growth is impressive, it wasn’t the most dramatic. Peppermint Grove retained its position as Perth’s most expensive suburb, with a median price of $5.1 million – a $459,000, or 9%, increase over the previous year. Brentwood followed closely as the second-best performing newcomer, experiencing a 37.1% annual growth to a median of $1.275 million, an increase of $473,025. Other suburbs experiencing significant growth include Serpentine in the Hills (up 36.8% to $1.17 million), Roleystone (up 26.3% to $1.0475 million), and Maylands (up 23.1% to $1.05 million).
The expansion of the million-dollar club isn’t limited to traditionally affluent areas. Surprising additions include Darch and Madeley in the city of Wanneroo, Glen Forrest in the shire of Mundaring, North Lake, and Canning Vale, indicating a widespread increase in property values across the Perth metropolitan area. This broadening of the market reflects a sustained period of strong price growth, with Greater Perth’s median house sale price rising 13.3% in 2025, following an even more substantial 25% increase in 2024.
The Real Estate Institute of WA (REIWA) anticipates this trend will continue. President Suzanne Brown stated that if Perth property prices maintain an anticipated growth rate of at least 10% this year, the million-dollar club could swell to include 150 suburbs by the end of . “Typically we only see a handful of new entrants to the million-dollar club each year,” Ms. Brown said. “However, the Perth property market recorded another 12 months of very strong price growth.”
However, the boom hasn’t been universal. A small number of suburbs have seen their median house prices fall below the $1 million mark since late 2024. Karawara, Carmel, and Bickley are among those that have dropped out of the exclusive club. Mariginiup, Hovea, and Millendon no longer meet the REIWA’s requirement of a minimum of 28 sales to be included in the official list, highlighting the importance of sales volume in maintaining a suburb’s position within the market.
The underlying drivers of this rapid price appreciation are multifaceted. Strong population growth, coupled with a persistent shortage of new housing completions, is creating significant upward pressure on prices. The recent rate cuts by the Reserve Bank have also contributed to the re-acceleration of property prices, providing buyers with increased borrowing capacity. However, experts caution that supply remains a critical factor. Without a substantial increase in new housing construction, price pressures are likely to persist, regardless of future interest rate movements.
The rapid expansion of the million-dollar club raises questions about affordability and accessibility for prospective homebuyers. While there are still affordable options available within these suburbs, such as villas and units, finding them may require patience and diligence. The continued growth of the Perth property market presents both opportunities and challenges for investors, homeowners, and those seeking to enter the market. The coming year will be crucial in determining whether the current trajectory can be sustained, or if the market will experience a period of stabilization or correction.
The data suggests a robust and dynamic property market in Perth, one that is rapidly evolving and redefining the landscape of homeownership in Western Australia. The continued influx of new entrants into the million-dollar club underscores the significant wealth creation occurring within the region, but also highlights the growing need for strategic planning and policy interventions to ensure sustainable and equitable access to housing for all.
