Peppermint Grove has been ranked the most expensive suburb in the country to buy a house.
Figures compiled by RP Data showed the median price for a house in the tiny riverside suburb reached $3.9 million over the past 12 months.
It was almost $700,000 higher than the second most expensive suburb - Bellevue Hill in Sydney's east.
Another Perth suburb, Dalkeith, was ranked in the nation's top 10 with a median price of $2.6 million.
The 10 most expensive suburbs in Perth all have median prices above the $1 million mark. The figures confirm Perth is among the most expensive capital cities.
Just 1.1 per cent of all Perth suburbs have a median house value under $300,000. Only Canberra, where there are no suburbs with a median house price beneath that level, has a lower proportion.
According to RP Data, there are just three suburbs in the metropolitan area with a median house price below $300,000 - Medina ($262,400), Brookdale ($295,400) and Calista ($299,600). Company research director Tim Lawless said conditions across the nation's housing market were continuing to warm up.
The Property Council/ANZ industry confidence survey for the December quarter showed a further improvement about conditions for the coming year.Although capital growth expectations for WA were mixed, there was confidence about the construction sector.