Perth’s rental vacancy rate has reached 2.5%, according to REIWA – the highest since September 2019. While this marks a slight increase from 2.3% in February, it also signals a healthy shift in our local rental market, with more homes becoming available for tenants.
What This Means for Landlords
The increase in vacancy rate reflects a more balanced market. We’re now seeing less competition among tenants, meaning home opens aren’t as busy as they were during the peak demand periods of recent years. This creates an opportunity for landlords to position their properties more strategically to attract quality tenants quickly.
Why Pricing Matters More Than Ever
We are strongly encouraging landlords to price their properties realistically when advertising. By setting an attractive rental price from the outset, you can generate stronger enquiry, increase attendance at home opens, and secure a tenant faster – keeping vacancy periods to a minimum.
While the market is naturally quieter during winter (as many tenants prefer to move around school holidays, work relocations, or in warmer months), the right pricing strategy ensures your property remains competitive.
A Changing Tenant Landscape
Gone are the days when tenants were offering above the advertised rent to secure a property. With more choice now available, tenants are taking the time to compare options and choose the best value. This makes realistic, market-aligned pricing essential to achieving the best outcome in the shortest time.
Our Outlook
This shift towards a more balanced market is not a negative – in fact, it creates stability and opens the door to longer-term tenancies. With the right strategy, landlords can still achieve strong results while avoiding prolonged vacancy.
If you’d like tailored advice on pricing your rental property for today’s market, our team is here to help you secure the best tenant, at the best possible rent, in the shortest time.
By Jessica Brewer, Head of Property Management, Abel Property