Perth Property Market Rental Trends April 2026

The Perth rental market in April 2026 continues to demonstrate remarkable resilience in the face of broader economic uncertainty. While national home value growth has begun to ease, led by declines in Sydney and Melbourne, Perth remains a standout performer.

Our April review analyzes the latest data to highlight how shifting supply levels and ongoing affordability challenges are impacting the local rental landscape.

Number of Perth Property Market Listings and Rentals

According to REIWA, for the week ending 3 May 2026, there were 2,233 properties available for rent in Perth. This is a notable 14.6% increase compared to four weeks ago, though it remains 2.8% lower than the same period last year.

REIWA President Suzanne Brown noted that while the uptick in listings is a positive sign for the market, it is likely a seasonal result of the recent school holiday period rather than a definitive peak. 

Despite more properties being available, leasing activity remains competitive; 554 properties were leased in the final week of April, a 13.5% increase compared to the beginning of the month.

Median Prices in the Perth Rental Market

The monthly data for April shows continued upward pressure on prices, particularly for detached homes.

The median weekly rent for houses increased to $750, a 10.3% rise compared to April 2025.

April 2026 Median Rent Breakdown

• Houses: $750pw (up 1.4% over the month)
• Units: $700pw (stable over the month, but up 7.7% annually)

For specific dwelling types, the 12-month medians ending April 2026 are:

• Houses: 2BR ($630), 3BR ($700), 4BR ($780)
• Units: 1BR ($600), 2BR ($700), 3BR ($780)

Regarding activity by location, the top-performing suburbs North of the river were Perth (12), Scarborough (12), and East Perth (10). 

South of the river, activity was led by Baldivis (12), Como (9), and South Perth (9).

Investor Insight: Perth’s National Standing

The Cotality Quarterly Rental Review (Q1 2026) confirms that Perth remains one of the tightest and most profitable markets in Australia. Along with Adelaide, Perth recorded one of the lowest vacancy rates in the country at just 1.2%.

Key findings from the quarterly review include:

• Accelerated Growth: National rents rose 2.1% in the March quarter, but Perth outperformed many capitals with a 6.7% annual increase.
• Yield Performance: Gross yields in Perth were recorded at 3.7% in March 2026, significantly higher than Sydney’s 3.1%.
• The Unit Trend: Nationally, unit rents (up 2.5%) continue to outpace house rents (up 2.0%), a trend driven by tenants seeking affordability amidst rising living costs.

Despite this, investor sentiment remains closely watched. 

Ms. Brown warned that investor sentiment is currently facing a “triple threat”: the escalating debate over “no grounds” terminations at a state level, potential federal changes to Capital Gains Tax and negative gearing, and rising interest rates. 

“Every investor lost is a blow to renters and rental affordability,” she cautioned.

Perth Rental Prices and Median Days

The speed of the Perth market remains incredibly fast. Homes leased in a median of 15 days during April, unchanged from March but faster than this time last year.

Certain suburbs are moving even quicker as tenants compete for well-positioned homes. The fastest median leasing times in April were recorded in:

• Eglinton: 7 days
• Wembley: 8 days
• Piara Waters: 10 days
• North Perth, Como, & Alkimos: 11 days

In the sales market, things have shifted from “white hot” to “hot.” Houses sold in a median of 12 days (up from 9 in March), giving buyers slightly more breathing room. 

However, with Perth property values still rising 2.1% in April alone (adding over $21,000 to the median value), the pressure on the established market remains significant.

Conclusion

In summary, April 2026 reflects a Perth market that is transitioning. While an increase in listings has offered a slight reprieve in market intensity, record-high rents and low vacancy rates continue to favor property owners. 

As REIWA suggests, the “oven” is still at 220 degrees. The demand is there, even if the frantic pace of early 2026 has eased slightly.

With rental yields in Perth remaining among the highest in the country, are you maximising your property’s potential? 

Request a free, updated rental appraisal from HERE Property’s local experts to ensure your property is positioned for the months ahead.

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