Cott named nation's priciest suburb

Cottesloe has been named Australia's priciest municipality with a median price tag of $2 million for detached houses while Wanneroo claimed the number one spot of most sales in WA for the 2009 financial year.

A report by RP Data showed that Cottesloe trumped the inner Sydney municipality of Mosman which recorded a median price of $1.92 million.

Cottesloe recorded 77 sales in fiscal 2009 while Mosman reached 250 sales.

Peppermint Grove, which has continually topped the state's list of most expensive homes, was not mentioned in the report.

Three other WA municipalities also made RP Data's top 10 with Nedlands at number three with a median price of $1.7 million, Mosman Park at five with $1.52 million and Claremont at seven with $1.35 million.

"The size of the council has no real bearing on the size of the property market," RP Data national research director Tim Lawless said.

"East Pilbara, for example, despite being the largest administrative region in Australia, recorded just five house sales over the last 12 months."

Meantime, Wanneroo was the number one WA municipality with the most sales in 2008/09 with 2,693 units sold. Homes in Wanneroo had a median price of $420,000.

Joondalup, with a median price tag of $490,000, came second with 2,200 units sold, followed by Rockingham ($368,000) with 1,894, Stirling ($627,500) with 1,617 and Canning ($450,000) with 1,507.