The Perth rental market continues to show signs of movement as we head into the new year, with shifting levels of supply, leasing activity and ongoing affordability pressures for tenants. Below is a snapshot of the latest data and what it means for you as a landlord.
Current Rental Supply
According to REIWA members, there were 2,178 properties available for rent in Perth at the end of last week. This represents:
- A 24.1% increase compared to the previous week
- 1% lower than four weeks ago
- 4.9% lower than the same time last year
While we have seen a short-term lift in listings week-on-week, overall rental supply remains tight when compared to longer-term trends. This continues to support strong rental conditions across most suburbs.
Top Performing Suburbs – Rentals
The suburbs with the highest number of rental listings last week were:
- Baldivis – 15 properties
- Eglinton – 10 properties
- East Perth – 9 properties
- Como – 8 properties
- Rivervale – 8 properties
These areas continue to attract solid tenant demand, driven by lifestyle appeal, proximity to amenities and value for money compared to inner-city alternatives.
Leasing Activity
REIWA members reported 503 properties leased last week, which is:
- 98.8% higher than the previous week
- 25.8% lower than four weeks ago
- 14.3% lower than this time last year
This spike from the prior week indicates strong enquiry and tenant engagement, even as leasing volumes fluctuate month to month. Well-presented properties that are priced correctly are still leasing quickly.
Rental Prices & Affordability
Nationally, the median rental asking price for units remained flat in the December quarter, despite most capital cities sitting at or near record highs. On an annual basis, unit rents still increased by 3.2%.
Property analysts at Domain have noted that this mixed trend reflects how unaffordable Australia’s rental market has become in recent years. In many cases, households now require an income of over $100,000 per year simply to cover weekly living and housing costs due to elevated rent levels.
What This Means for Landlords
For landlords, these conditions highlight several key points:
- Rental demand remains strong, particularly for well-maintained homes
- Pricing strategy is critical to minimise vacancy while maximising return
- Affordability pressures mean tenants are more discerning than ever
- Professional management plays a key role in securing and retaining quality tenants
At Abel Property, we continue to monitor market conditions closely and provide tailored advice to ensure your investment performs at its best.
If you would like a personalised rental appraisal or would like to discuss how these trends relate specifically to your property, please feel free to contact our team.
By Jessica Brewer – Head of Property Management, Abel Property