Where to find the cheapest streets in Perth’s most expensive suburbs

How much does it cost to live in Cottesloe? On some streets, the median house value is just shy of an eye-watering $4 million, but there are other pockets where a unit will set you back just $687,985, far less than the median price of a house in Perth.

The most expensive and most affordable pockets of Perth’s priciest suburbs have been revealed in granular new data from CoreLogic that shows how far price points can vary within a postcode.

Aerial view of Peppermint Grove and Freshwater Bay. Credit: iStock

Peppermint Grove and the prestige suburbs of Dalkeith, City Beach, Cottesloe, and Swanbourne all offer a premium lifestyle close to the water whether it be the beach or the river. And they share one common factor: the closer to the water, the higher the price tag.

CoreLogic research director Tim Lawless said estimating the individual value of high-end homes was difficult as they are so unique however buyers could pick up homes for less if they were close to main roads or railway lines.

“There are many things that can impact housing values, both positively and negatively, however the broad rule of thumb is that scarcity in the face of demand tends to underpin values,” he said.

“Higher value submarkets will typically show this scarcity, such as proximity to water, elevation, large lot sizes or often a combination of these factors.

“On the flip side, submarkets with a discount on the broader suburb level median will probably show the opposite characteristics, they might be low-lying, have smaller lot sizes, higher densities, or little in the way of aspect.”

Lawless said not everyone could afford to buy in the most expensive niches of the market, especially in suburbs where housing prices are already very high.

“Buying at the lower end of the pricing spectrum probably means you don’t have the best view or the quality of the home may not be as high as others in the suburb,” he said.

“Entry-level homes may not share the same scarcity values as properties as the top of the pricing spectrum either.”

Homes in the exclusive enclave of Peppermint Grove that hug Freshwater Bay on the Swan River command a median house value of $3.79 million on CoreLogic data, while an entry-level on the southern border of the suburb is a cheaper $3.1 million.

Units are more affordable at $866, 371, about the median price of a house in Perth.

Dalkeith, renowned for its sprawling riverside estates and the prestigious Jutland Parade—a perennial contender for Australia’s priciest streets—presents a diverse market.

While a home near Cormorant Lane and the tranquil Birdwood Parade Reserve might command around $3.7 million, CoreLogic data reveals entry-level units boast a median value of $1,690,144.

According to REIWA Perth’s median house sale price recorded preliminary growth of 2.7 per cent in the March 2025 quarter, with the median house sale price rising from $750,000 at the end of 2024 to $770,000.

The median unit price increased 4.0 per cent to $520,000 over the same period, up from $500,000.

Perth’s house and unit median sale price are both at record highs.

REIWA president Suzanne Brown said while moderate price growth was forecast for Greater Perth, conditions would vary from suburb to suburb.

She said sellers should not expect their home to sell at the first home open or to achieve the sensational price outcomes seen last year.

“The frenzied buyer behaviour that characterised most of 2024 has eased,” she said.

“Our members report buyers are more discerning and taking more time in their purchasing decisions. They are also being more prudent with their spending, and this is likely to continue while the economic climate remains uncertain.”

With Kristy Johnson