Perth Property Market Rental Trends February 2026
Managing a rental property in Perth requires a detailed understanding of a market that is increasingly favoring diversification.
As we move deeper into 2026, the data confirms that the market is recalibrating toward higher-density living. In Perth, units have stepped into the spotlight, delivering record growth and historical leasing speeds.
Our February 2026 market review combines the latest performance data to help you navigate this market with confidence.
Number of Perth Property Market Listings and Rentals
According to REIWA, for the week ending 8 March 2026, the Perth rental market saw 576 properties leased, consisting of 384 houses and 192 units. While this weekly figure is 13.3% lower than the prior week, it represents a 5.9% increase compared to the same week last year, signaling sustained demand.
Supply continues to be the primary challenge for the Perth market. At the end of February, there were 1,936 properties available for rent, which is 7.2% lower than levels seen a year ago.
REIWA President Suzanne Brown noted that the established market is under immense pressure as the building industry continues to face constraints in labor and materials, limiting the flow of new supply.
Median Prices in the Perth Rental Market
Monitoring median price movements reveals a fascinating divergence between property types. While house rents eased slightly from their January peaks, units reached a historic milestone.
For house rentals, the median weekly rent settled at $720pw.
- 2-Bedroom: $620pw
- 3-Bedroom: $700pw
- 4-Bedroom: $770pw
In contrast, unit rentals rose to $690pw.
- 1-Bedroom: $600pw
- 2-Bedroom: $695pw
- 3-Bedroom: $750pw
Regarding rental activity by location, the top-performing suburbs North of the river were Perth (15), Claremont (10), and Scarborough (9).
South of the river, activity was led by Baldivis (9), Wellard (9), and Rivervale (7).
Investor Insight: Units Selling in Record Time
The most striking data from February is the sheer speed of the market. Units sold in a record median of just seven days, while houses followed closely at eight days.
Ms. Brown attributed this to “price-conscious buyers looking for more affordable options” and the Federal Government’s 5% deposit scheme, which often directs demand toward the unit market due to its $850,000 threshold.
For investors, this rapid turnover in the sales market is a leading indicator of the high demand seen in the rental sector:
- Villas: Median 6 days to sell.
- Home Units: Median 7 days to sell.
- Apartments: Median 8 days to sell.
This uniform demand across all unit types suggests that tenants and buyers alike are prioritising availability and price-point over traditional land-based assets.
Perth Rental Prices and Median Days
The rental market remains exceptionally fast-paced, with properties leasing in a median of 16 days. This is one day faster than in January, despite being one day slower than the pace of early 2025.
Some suburbs are moving even faster; Subiaco and Joondalup recorded median leasing times of just nine days this month, followed by Southern River (10 days) and Canning Vale (11 days).
While the overall dwelling rent declined 1.4% to $710pw (a result of the slight easing in house prices), the long-term trend remains upward, with prices 5.2% higher than this time last year.
As Ms. Brown noted, the market has settled into a period of “relative stability,” where we can expect minor monthly fluctuations while the overarching vacancy rate remains tight.
Conclusion
In summary, February 2026 has solidified the unit market’s status as a powerhouse in Perth. With unit rents hitting record highs and properties selling in record time, the “affordability shift” is in full effect.
For property owners, this reinforces the need for accurate, up-to-date pricing to ensure you are capturing the maximum return in a market that moves in days, not weeks.
Is your property positioned to take advantage of Perth’s record-low vacancy rates? Request a free, customised rental appraisal from HERE Property’s local experts to understand exactly where your asset stands in this fast-moving market.
Get your free online rental appraisal today!
