Seven Perth suburbs fall off rich list

The high end of Perth's property market has taken a battering from the global slowdown with seven metropolitan suburbs dropping out of the $1 million club, a new survey has found.


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Sorry - there's no way Cottesloe median price (or representative price) is $785,000. The last REIWA data had their media price at $2mn, and a figure of $785k is simply not representative of the value of a typical Cottesloe home. Which is what RP Data and you imply by stating the "Suburb" has "fallen out of the $1mn club". This is stats used in a very bad a misleading way - (to get a headline?). As the mrket has slowed to a trickle in the high end areas, so some units may have sold in Cottesloe, the middle price of which (median) may be $785,000. But that's a long way from saying "the suburb"'s representative price (and by that meaning the whole dang suburb) is less than an mill. Rubbish!

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