Samson jumps $500k in one year to join Perth’s exclusive million-dollar club

Perth’s housing market continues to demonstrate significant growth, with a growing number of suburbs now exceeding the $1 million median house price. Samson, located east of Fremantle, is among the latest to join this exclusive “million-dollar club,” experiencing a substantial $500,000 increase in property values over the past year.

Expanding Million-Dollar Suburbs

The addition of Samson is part of a larger trend. A total of 32 suburbs reached a median house sale price exceeding $1 million for the first time last year, bringing the total number of such suburbs in Western Australia to 126. Samson itself saw a remarkable 40.5 percent growth, with the median price now standing at $1,250,000.

Strong Growth, Even Among High-Value Areas

This growth isn’t limited to previously affordable areas. Even established high-value suburbs like Peppermint Grove, which remains at the top of the list with a $5.1 million median, experienced a 9 percent increase, or $459,000. Brentwood followed closely as the second-best performing newcomer, with a 37.1 percent annual growth to $1,275,000, representing a $473,025 increase.

Did You Know? In 2024, a record 37 suburbs joined Perth’s million-dollar club, with 34 of those being new entrants.

Other suburbs experiencing significant growth include Serpentine in the Hills (up 36.8 percent to $1,170,000), Roleystone (up 26.3 percent to $1,047,500), and Maylands (up 23.1 percent to $1,050,000). The trend extends to areas like Darch, Madeley, Glen Forrest, North Lake, and Canning Vale, demonstrating broad market strength.

Future Outlook

According to Real Estate Institute of WA (REIWA) President Suzanne Brown, the market’s trajectory suggests further expansion of the million-dollar club. If Perth’s growth continues at an anticipated rate of at least 10 percent annually, the number of suburbs in this category could reach 150 by the end of 2026.

Expert Insight: The rapid expansion of Perth’s million-dollar club indicates a sustained period of strong property value appreciation, driven by market forces and potentially influenced by broader economic conditions.

However, the data also reveals some fluctuation. Three suburbs – Karawara, Carmel, and Bickley – have fallen below the million-dollar threshold since the end of 2024. Mariginiup, Hovea, and Millendon were removed from the list due to not meeting the minimum sales requirement of 28 for inclusion in the REIWA-compiled data.

Frequently Asked Questions

Which suburb experienced the largest percentage growth?

Samson experienced the largest percentage growth, with a 40.5 percent increase in median house price over the last year.

How many suburbs are currently in Perth’s “million-dollar club”?

There are currently 126 suburbs in Western Australia where the median house sale price exceeds $1 million.

What is the median house price in Peppermint Grove?

The median house price in Peppermint Grove is currently $5.1 million.

As Perth’s property market continues to evolve, what factors do you believe will most influence future price trends?