Perth’s prestige market is in a different place from the wider city right now. Cotality’s index shows Perth values falling over the past three months, yet REIWA’s suburb profiles show house medians of $2.28 million to $7.25 million across the western suburbs and riverside areas we track, with REIWA’s sales price growth figure positive in all but one. For top-end buyers, that mix means more room to negotiate in some pockets, and steady competition in others.

We will update this report each quarter. Figures below are as published at the time of writing (10 November 2026).

The wider Perth market: values easing

Cotality’s Home Value Index for October 2026, released 2 November 2026, shows Perth dwelling values fell 1.7% in October and 5.7% over the three months to the end of October, but were still up 3.9% over 12 months. Perth’s median dwelling value was $942,018, and the median house value was $982,146. Cotality puts Perth values 8.9% below their April 2026 peak (Cotality Home Value Index, November 2026 release, results to 31 October 2026).

Cotality’s research director Tim Lawless said “virtually every suburb across Brisbane, Perth and Adelaide has recorded a drop in values over the past three months” (same source).

What about the top quartile? Cotality’s November report does not publish Perth top-quartile figures. It notes that in the mid-sized capitals there is now very little difference in growth rates across the broad value tiers, after lower-priced homes led the previous upswing (same source). We will add top-quartile figures in future updates when they are published.

Prestige suburbs at a glance

The table below shows REIWA’s figures for houses in 11 of Perth’s established prestige suburbs. Median prices cover the 12 months ending October 2026, as shown on each REIWA suburb profile (updated between 7 and 10 November 2026). “Sales price growth” is the figure REIWA shows on each profile; REIWA does not state its period on the page. Time on market is REIWA’s figure for houses, based on settled sales.

Source: REIWA suburb profiles, accessed 10 November 2026. Each suburb name links to its profile.

Reading the numbers with care

Prestige suburbs have far fewer sales than the wider city, so a few large sales can move a median a long way. Peppermint Grove’s figure of 85.4% is a good example: in a small suburb, the mix of homes that happened to sell in a year can matter as much as any change in value. Treat suburb medians as a guide to the general price level, not a valuation of any one home.

A few points stand out from the table:

• Price levels. Four suburbs have median house prices above $3.8 million (Peppermint Grove, Dalkeith, Cottesloe and City Beach). The other seven sit between $2.28 million and $2.91 million.
• Speed of sale. Applecross (11 days), Swanbourne (13) and Claremont (15) show the shortest time on market. City Beach (39), Mount Pleasant (32) and Mosman Park (31) show the longest.
• Growth. REIWA’s sales price growth figure is positive in ten of the 11 suburbs and 0.0% in Applecross.

Set against Cotality’s city-wide figures, which show values falling over the past three months, the prestige suburbs are not moving in one direction. That is typical of the top end, where individual homes, land and location drive price more than the broader market does.

Pepermint Grove.. Leader of the pack

What this means for buyers at $3 million and above

• Negotiation room varies by suburb and by home. Where homes are taking longer to sell, sellers may be more open to terms. Where homes are selling quickly, a strong, clean offer still matters.
• Few public comparables. With limited sales, like-for-like comparisons across nearby suburbs, adjusted for land, aspect, frontage and condition, give a better guide than a suburb median.
• Not everything is advertised. Some top-end homes are sold pre-market or off-market. Being known to selling agents with a clear brief and finance ready is how buyers get to see them.
• Due diligence goes deeper. Heritage listings, river and coastal setbacks, flood mapping, strata records for prestige apartments and renovation potential can all affect value at this level.

Rates and lending conditions also matter at the top end. Speak with your broker or financial adviser about your own position; this report is general information only.

What we will watch next quarter

When we update this report, we will look at the same measures so you can compare like with like:

• Cotality’s monthly, quarterly and annual change for Perth, and top-quartile figures if they are published.
• REIWA median house prices for each of the 11 suburbs, for the latest 12-month period.
• REIWA’s sales price growth and time on market for houses in each suburb.

Watching time on market alongside the median is useful. A rising median with longer selling times can point to a few big sales rather than broad demand, while shorter selling times usually mean buyers are competing for what is available. Neither tells you what a particular home is worth, which is why a property-by-property price range matters more when you are ready to buy.

How we help prestige buyers

We are a private buyer’s agent for executives and professionals, and we act only for you in your purchase. That includes confidential searches where your name is not given to selling agents, access to pre-market and off-market homes, private inspections with walkthrough videos, detailed due diligence and negotiation or auction bidding. Our due diligence reports cover like-for-like comparable sales, zoning and R-codes, flood and bushfire maps, the suburb, schools, transport and amenities, pros, cons and maintenance points, and a You&Me price range, using data such as Cotality (RP Data) and REIWA.

Read more about our buyer’s agents in Perth and our prestige buyer’s agent service.

Talk to us about the top end

If you are planning a purchase at $3 million and above, book a free discovery call. We meet online via Teams or in person at our Subiaco office.