Cotality’s data reveals that more than one in four Perth homes (26.3%) are now valued at $1 million or more. This marks a staggering rise from just 6.0% in March 2020 - highlighting how quickly the market has shifted. This pattern has also been a key driver of housing price growth, with national values up 67.3% over the last ten years.
But what does this really mean for sellers?
Unlocking New Opportunities
For many homeowners, crossing into the $1m+ category may be a first. This surge in equity provides a chance to:
- Upgrade into a larger or better-located home
- Downsize while unlocking financial freedom
- Reinvest in other opportunities
Prestige Buyers Are Active
Despite affordability pressures, aspirational buyers remain highly motivated. Lifestyle-driven moves - seeking location, quality, and experience, are still commanding premium prices.
Stronger Marketing Positioning
Being able to market a property as part of the million-dollar-plus segment brings cachet. Campaigns can be positioned to attract prestige buyers who look beyond bricks and mortar to the lifestyle a property affords.
Timing Is Critical
Perhaps the most important factor: today’s market conditions are highly favourable, but cycles always turn. As founder John Percudani explains:
"The residential property market is in a unique cycle with a protracted period of high demand. Many owners now hold significant built-up value in their homes that can often be realised without capital gains tax. However, all hyper-cycles are followed by correction. Sentiment alone can trigger it. We are already seeing affordability challenges in some suburbs and early signs of rental recalibration. Sellers who act now may secure generational wealth shifts, lifestyle change, or debt reduction - but hesitation may mean missing the peak."
The Bottom Line
With more Perth properties than ever joining the million-dollar club, sellers hold a rare advantage. The opportunity is clear: don’t be undersold in this market. Timing and strategy will define outcomes.
Request a market appraisal today and take informed steps toward your next property move.
Source: Cotality Media Release, May 2025