Perth ended 2023 with luxury house prices sitting at $ 1.7 million , a 49.3 per cent increase from 2014 . Median prices , on the other hand , increased by only 25.1 per cent to end 2023 at $ 676K . Considering that prices only really began to increase in 2018 , the growth of prices in Perth is astounding .
P E R T H
PERTH HOUSE PRICES OVER THE PAST 10 YEARS
$ 1.6M
LUXURY
$ 1.4M
$ 1.2M
$ 1M
$ 800K
$ 600K
MEDIAN
$ 400K
$ 200K
0
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Source : Neoval
The shape of trends in luxury units was similar with prices only beginning to increase in 2018 , however , the growth rate for luxury unit prices was not as explosive . Between 2014 and 2023 , luxury unit prices grew by only 15.3 per cent to just pass the $ 1 million mark . Median prices stayed flat with a growth rate of just 0.7 per cent to end 2023 at $ 453,000 .
PERTH UNIT PRICES OVER THE PAST 10 YEARS
$ 1M
LUXURY
$ 900K
$ 800K
$ 700K
$ 600K
$ 500K
$ 400K
MEDIAN
|
$
300K
|
|
|
|
|
|
|
|
|
|
|
$
200K
|
|
|
|
|
|
|
|
|
|
|
$
100K
|
|
|
|
|
|
|
|
|
|
0 |
|
|
|
|
|
|
|
|
|
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
Source : Neoval
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