Rental Market Overview 2026

Welcome to Our First Rental Market Overview of 2026

We've certainly hit the ground running, and just like that, we're already nearing the end of January.

With a new year ahead, market conditions will once again be closely watched by all. In this post, we share an overview of the current Perth rental market and provide insight into what we are seeing on the ground from our team's perspective.

Perth Rental Market Overview

Perth's rental market remained relatively stable throughout 2025. While rental prices are at record highs, the pace of growth continued to slow over the year, with periods of price stability becoming more evident.

The median weekly house rent reached a record $700 in August 2025. After a slight dip in September, it returned to $700 for the remainder of the year, finishing 4.5% higher year-on-year, compared to 8.1% growth in 2024.

• The median weekly unit rent rose 4.6% over 2025 to a record $680, a significant slowdown compared to the 14.0% growth recorded in 2024.
• Looking ahead to 2026, we expect to see further periods of rental price stability and a similar, more moderate rate of growth over the year.

Demand Varies Across Perth

Market conditions are not uniform across the Perth metropolitan area. Properties located closer to the CBD, lifestyle precincts, and key transport infrastructure are continuing to experience strong demand.

Conversely, areas on the outskirts of Perth, particularly where there is a high level of new housing supply and high level of investment properties, are beginning to see a softening in rental price growth.

How the Numbers Stack Up

On average:

• Approximately 2,200 properties are listed for lease across Perth each week
• Around 700-800 properties are leased weekly

This means roughly one-third of available properties are leased each week, giving quality tenants greater choice, often up to three suitable properties to consider at any given time.

Insights From Our Team

From a practical, on-the-ground perspective, our team is experiencing:

• A high volume of break lease requests, largely driven by tenants taking advantage of government incentives and exiting the rental market to purchase their own homes.
• Fewer applications overall, and among those received, many are difficult to verify due to limited information and affordability concerns.
• While we work closely with prospective tenants to guide them through application requirements, it is evident that tenants with the financial capacity to buy are increasingly leaving the rental pool.

Positioning Your Property for Success

In some suburbs, we are seeing an increase in available rental supply. If your property is located in one of these areas, our team will work closely with you to ensure it is well positioned to secure a tenant as quickly as possible.

In many cases, small adjustments can make a significant difference, such as:

• A modest price adjustment
• Investing in professional photography or enhanced marketing

A vacant property losing weekly rent can quickly outweigh the benefit of holding out for a higher price. In many situations, a strategic adjustment can be far more cost-effective over a 12-month period.

We're Here to Help

As always, our team is here to support you in achieving your property investment goals. We're also available for one-on-one appointments to complete a personalised property review, please feel free to reach out at any time.