Peppermint Grove is where most Perth residents aspire to live; it’s the crème de la crème of Perth and touted to have the highest concentration of wealth in Perth – well at least the highest weekly income – akin to Melbourne’s Toorak and Sydney’s Vaucluse.

While its name evokes thoughts of something deliciously minty, Peppermint Grove’s housing prices are not so palatable, remaining a little out of reach for most. Its most recent median price was positioned at the $3.4 mill mark.

The Swan River is the illustrious and scenic eastern border of Peppermint Grove. The streets, which amble down to the sparkling river, are typically lined with well-established peppermint trees and detached houses ranging from large Federation-era cottages to modern mansions. It’s not uncommon to find French Riviera-inspired houses or limestone and slate towers here. Block sizes are generous at an average of 900 square metres.

A very small suburb with only around 580 or so dwellings, properties are very scarce and highly prized, which usually means strong upward price pressure.

Typically very wealthy owner-occupiers buy in Peppermint Grove. With most house prices just starting at $2 million, this is usually far out of the investor equation. While the area can offer very strong capital growth in a buoyant job and housing market, most investors won’t usually go shopping for a property in Peppermint Grove unless they’re very cashed up; it’s not the type of rental property you could affordably maintain or pay land tax on, and rental income doesn’t appear to compensate enough.

Property Wizards Logo and tagline If you have an interest in building your wealth through property, then call us on (08) 9381-7450, or request a FREE Starter Pack.

Image courtesy of Victor Habbick/