Perth’s rental market continues to perform strongly, with rents remaining at historically high levels. However, after several years of rapid growth, we’re seeing a shift in market conditions that landlords should be aware of.
According to the latest Housing Affordability Report from the Real Estate Institute of Australia (REIA), rental affordability in Western Australia has reached its lowest level on record. Tenants are now spending 24.6% of their family income on rent, while Perth’s median weekly house rent sits at $730 and units at $700.
While these figures highlight the strength of the market, they don’t tell the whole story.
The Market Is Evolving
At Abel Property, we’re seeing conditions begin to normalise.
The exceptional tenant demand experienced over recent years has eased, particularly through the winter months when enquiry levels traditionally soften. Affordability is also becoming a greater consideration for tenants, meaning properties that are priced above market expectations are taking longer to lease and often require price adjustments.
This doesn’t mean the market has weakened. It simply means pricing strategy has become more important than ever.
Today’s market rewards landlords who take a realistic, evidence-based approach to rent reviews rather than assuming rents will continue to rise at the same pace as they have previously.
Why Professional Market Advice Matters
With market conditions changing, regular rent reviews are still essential, but so is understanding where your property sits within the current market.
Achieving the highest possible return isn’t just about asking the highest rent. It’s about finding the balance between maximising income and minimising vacancy.
Every week a property sits vacant can quickly outweigh a small increase in weekly rent, making accurate pricing one of the most important decisions a landlord can make.
Alongside pricing, quality marketing, professional presentation, responsive leasing and careful tenant selection all contribute to achieving the best outcome for your investment.
Local Knowledge Makes the Difference
At Abel Property, our experienced property management team works with landlords across Perth every day. Because we’re actively leasing properties in the current market, we’re able to provide advice based not only on market data, but also on what we’re seeing firsthand at inspections and through tenant enquiry.
Our focus is helping landlords achieve strong returns while keeping vacancy periods to a minimum through proactive management and informed decision-making.
If you haven’t reviewed your property’s rental position recently, or you’re wondering whether your current strategy is still the right one, we’d be happy to provide an obligation-free rental assessment.
Whether your property is currently managed by Abel Property or another agency, our team can provide up-to-date advice on where your investment sits in today’s market.
Data sourced from the Real Estate Institute of Australia (REIA) Housing Affordability Report, March 2026 quarter.