WEST Swan was one of the 37 suburbs to make Perth’s million dollar club in 2024, according to the Real Estate Institute of Western Australia.

The City of Swan suburb with a 2024 median house price of $1.16 million made a return to the list after exiting in previous years.

The other eastern and hills suburbs to join or return to the list included Darlington with a 2024 median house price of $1.13m, Hovea ($1.1m), Carmel ($1.1m), Gooseberry Hill ($1.05m), Bickley ($1.02m), Guildford ($1.02m), Millendon ($1.01m) and The Vines ($1.01m).

Perth now has 100 suburbs with a median house sale price of $1m.

REIWA chief executive officer Cath Hart said strong price growth last year was behind the significant increase.

“In a typical year, only a handful of suburbs would see their median house sale price rise above $1m,” she said.

“But in 2024 the Perth property market recorded some of the highest growth since the 2006-07 boom, with annual median house sale price growth peaking at 24.8 per cent in October.

“As a result, 37 suburbs reached the million dollar mark last year – this compares with just eight suburbs in 2023.

“The previous record for suburbs added to the million dollar club during a calendar year was 14, which was set in 2006.”

No suburbs on the 2023 list saw their median house sale price fall below $1m in 2024.

Of the 37 suburbs that joined the million dollar club West Swan was one of three to return to the list – the other two were Highgate and Burswood.

“Prices fluctuate from year to year, depending on what is selling in that time period and we regularly see suburbs around the million dollar mark come and go from the list,” Ms Hart said.

West Perth was the top performer among the new entrants, with its median house sale price increasing 48.9 per cent to $1,340,000.

Riverton was the next best performing newcomer, with 39.7 per cent annual growth, followed by Burswood (up 39.6 per cent), Guildford (up 39.3 per cent) and Highgate (up 39.0 per cent).

Perth’s most expensive sale in 2024 was 177 Wellington Street, Mosman Park, which sold in May for $25m.