Perth houses more expensive than ever TOP END: Perth house prices have hit a record median price of $510,000, but mansions in Peppermint Grove are selling for many millions. Picture: Marie Nirme Source: PerthNow PROPERTY prices in Perth have reached record highs, with the average house in the West Australian capital now selling for $510,000. David Airey, president of the Real Estate Institute of WA (REIWA), said there had been a two per cent increase on the median price from the December quarter, beating the previous record of $505,000 set in March 2010. Data for the March quarter indicated while the proportion of house sales in Perth under $500,000 had fallen there was a marked increase in sales between $500,000 and $1 million. The state's Office of State Revenue revealed in February the median purchase price for first home buyers was $425,000. Last week, Australian Bureau of Statistics figures showed Perth had four of Australia's five most advantaged suburbs, with people flocking to the booming state in record numbers.