P E R T H
The story in Perth is very different when we zoom into just 2023 . Among major cities , Perth saw the largest luxury house price growth with 15.12 per cent in 2023 , five percentage points higher than the runner-up city . Median prices of houses in Perth grew the greatest of all major cities and all property types at 16.38 per cent . Even if it may not look like it in comparison , luxury unit price growth in 2023 was also very impressive at 8.93 per cent . This was the first time in the last decade that median prices grew greater than prices in the 95th percentile .
PER CENT PRICE GROWTH FROM 2022 TO 203 - HOUSE VS UNIT
House
Unit
16.38 % 15.12 %
9.84 %
Median
8.93 %
Luxury
Source : Neoval
In terms of transaction volume , the luxury house market in Perth was the only one to decline two years in a row , whereas the luxury unit market was its antithesis with its stable and almost perfectly linear growth . Perth sold 67 luxury houses and 23 luxury units in 2023
COUNT OF LUXURY TRANSACTIONS - HOUSE VS UNIT
$ 1.6M
$ 1.4M
$ 1.2M
HOUSE
$ 1M
$ 800K
$ 600K
$ 400K
UNIT
$ 200K
0
2014
2015 2016 2017 2018 2019 2020 2021 2022 2023
Source : Ray White
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