The Perth rental market has changed considerably over the past two years.
For property owners, it can be easy to focus on what a property was renting for when the current tenancy commenced, particularly if that tenancy has been in place for some time. However, rental values can change significantly as market conditions, tenant demand and available supply shift.
Looking at where rents are sitting today – and how they have changed over the past 12 months – provides a useful snapshot of the current Perth rental market.
Perth rents continue to sit at record levels
At the end of the 2025–26 financial year, Perth’s median weekly house rent reached $750, an increase of 9.5 per cent over the previous financial year. The median unit rent also reached a record $700 per week, increasing by 7.7 per cent over the same period.
While rental growth has moderated compared with some of the rapid increases experienced earlier in the current rental cycle, rents remain elevated and demand for well-presented properties continues. The market also remains relatively tight. Perth’s vacancy rate was 1.9 per cent in August 2026, still below REIWA’s 2.5–3.5 per cent range generally associated with a balanced rental market.
For landlords, this continued level of demand makes it important to understand where their individual property sits within the current market.
What has happened across some of Perth’s major suburbs?
Rental growth has not been uniform across Perth. Different suburbs and property types have experienced different levels of growth, but the figures below demonstrate that rental values continue to move.
| Suburb | Median rent 12 months ago | Current median rent | Rental growth |
| Subiaco | $990pw | $1,100pw | 11.1% |
| Mount Lawley | $800pw | $950pw | 18.8% |
| Como | $765pw | $862pw | 12.7% |
| East Victoria Park | $750pw | $850pw | 13.3% |
| Victoria Park | $750pw | $800pw | 6.7% |
| Perth | $700pw | $750pw | 7.1% |
| East Perth | $725pw | $780pw | 7.6% |
Current figures are REIWA median rental prices based on leases reported to 20 September 2026. The 12-month-ago figures have been calculated from REIWA’s current median and published annual rental growth percentage, and are rounded to the nearest $5. Individual properties will vary depending on property type, size, condition, location and presentation.
There is no single Perth rental market
The figures highlight an important point: there is no single Perth rental market.
A property in Subiaco is competing for a very different pool of tenants to a property in Victoria Park, Como or East Perth. Even within the same suburb, rental values can vary considerably depending on the property’s size, condition, presentation, parking, outdoor space and other features.
For example, REIWA’s current Mount Lawley data shows a median house rent of $950 per week, but this ranges from a median of $770 for two-bedroom houses to $1,450 for four-bedroom houses. In Subiaco, the current median house rent is $1,100 per week, with the median varying considerably according to the number of bedrooms.
This is why simply applying a suburb-wide percentage increase to an individual property isn’t always appropriate.
Small weekly changes add up
One of the easiest ways to overlook rental growth is to think about it only in weekly terms.
An increase of $25 per week represents $1,300 over a full year.
An increase of $50 per week represents $2,600 per year.
An increase of $100 per week represents $5,200 per year.
For an investment property, these differences can have a meaningful impact on annual rental income.
This doesn’t mean every property should simply be increased by the maximum amount available. Rental pricing needs to consider the property’s condition, its competition, tenant demand and the owner’s individual circumstances.
It does, however, demonstrate why regularly reviewing rental value is important.
The importance of staying connected to the market
The rental market doesn’t stand still.
A property that was correctly priced at $650 per week two years ago may no longer be appropriately priced at $650 today. Equally, a property that was achieving a premium rental two years ago may now face more competition from newer or better-presented properties.
Regular market reviews allow owners and Property Managers to consider:
- What comparable properties are currently achieving
- Whether tenant demand has changed
- How much competing rental stock is available
- Whether improvements to the property could increase its appeal
- Whether the current rent remains appropriate
- How the property is performing compared with the wider suburb
It is about making sure the property remains appropriately positioned within its current market.
Looking after the rental value
The rental value of an investment property isn’t determined by the suburb alone.
Presentation, maintenance and the overall tenant experience all contribute to how a property performs in the rental market. Keeping a property well maintained, addressing maintenance issues promptly and considering improvements when appropriate can help ensure it remains competitive when compared with other properties available to tenants.
At the same time, not every improvement will produce a corresponding increase in rental value. Understanding what tenants are actually looking for in a particular suburb is important when deciding where to spend money on a property.
Is your property’s rent keeping up?
The past two years have demonstrated just how quickly Perth’s rental market can change. For owners, the key isn’t simply chasing the highest possible rent.
It’s about understanding the market, pricing strategically and ensuring your property remains competitive and well positioned for the tenants currently looking to rent in your area.
If it has been some time since your property’s rental value was reviewed, feel free to reach out to our Property Management Team at Celsius and we would be happy to assist.
