According to the Real Estate Institute of Western Australia (REIWA), Perth’s rental market has been steadily stabilising after several challenging years.
While rental prices softened in previous years, the pace of decline has slowed significantly. Median rents have remained relatively steady, and rental supply has improved compared to earlier peaks, giving tenants more choice while still supporting healthy leasing activity.
Despite conditions being more balanced than in the past, property investment in Perth continues to make sense. Low interest rates have helped offset softer rental returns, and leasing activity remains strong — with tenant demand still very much present when properties are priced and presented correctly.
Pricing Matters
REIWA emphasises that the first two weeks of a rental listing are critical. Properties that are competitively priced from day one attract more enquiry and secure tenants faster. Overpricing can lead to longer vacancy periods and, ultimately, accepting a lower rent than if the property had been positioned correctly from the start.
Taking advice from an experienced property manager is key. When landlords meet the market, rather than chase it, they are far more likely to achieve consistent rental income and minimise vacancy losses.
Balanced Market for Landlords
Recent data shows Perth’s vacancy rate has continued to trend downward, signalling a gradual return to market balance between supply and demand. While rapid rent growth isn’t expected in the short term, conditions are improving, particularly for well-maintained, well-located properties.
REIWA advises landlords to remain flexible, especially when it comes to lease conditions. For example, being open to pet applications (assessed on a case-by-case basis) can significantly widen the tenant pool. With bonds, pet bonds and landlord insurance in place, this flexibility often works in a landlord’s favour.
To summarise
The Perth rental market is no longer at extremes, and that’s a good thing. With realistic pricing, professional advice and a flexible approach, landlords are well positioned to secure reliable tenants and long-term stability.
For suburb-specific insights or tailored advice, REIWA recommends speaking with a local property professional who understands your area and the current market conditions.
Source: REIWA (reiwa.com.au)
