Perth Property Market Rental Trends March 2026
The Perth rental market in March 2026 is navigating a complex landscape of record-high prices and fresh external pressures.
While the start of the year was defined by an “affordability shift” toward units, the story this month is the impact of rising global costs and supply chain delays on the local property sector.
Our March review breaks down the latest data to help you understand how these macroeconomic factors are influencing your property’s performance and tenant behaviour.
Number of Perth Property Market Listings and Rentals
According to REIWA, for the week ending 12 April 2026, the Perth rental market recorded 492 properties leased. This reflects a seasonal slowing typical of the school holiday period, down from the 712 leases recorded four weeks prior.
The supply of available properties remains critically low. At the end of March, there were 1,870 properties available for rent, a figure 11.1% lower than the same time in 2025.
This persistent scarcity is being exacerbated by external factors; REIWA Deputy President Rob Mandanici noted that rising oil prices are putting upward pressure on building costs and delaying material supplies, which keeps tenants in the rental market for longer as they wait for homes to be completed.
Median Prices in the Perth Rental Market
The overall median dwelling rent rose 1.4% in March to a record $720 per week, representing a 5.9% increase over the past year.
House rents led the charge this month, increasing 2.8% to a median of $740pw.
- 2-Bedroom: $625pw
- 3-Bedroom: $700pw
- 4-Bedroom: $780pw
Units showed a slight seasonal stabilisation, with the median rent sitting at $695pw. Despite the minor monthly dip, unit rents remain 6.9% higher than they were in March 2025.
- 1-Bedroom: $600pw
- 2-Bedroom: $700pw
- 3-Bedroom: $780pw
Regarding activity by location, the top-performing suburbs North of the river were Perth (11), East Perth (11), and Mount Lawley (10). South of the river, activity was led by Baldivis (13), Como (8), and Wellard (8).
Investor Insight: Units Selling in Record Time
The current market is being shaped by significant challenges in the building industry.
REIWA Deputy President Rob Mandanici highlighted that rising oil prices and material delays mirror the difficulties seen during the pandemic. “COVID showed us what can happen when there are serious challenges in the building industry – more people look to the established market for homes to buy or rent,” Mr. Mandanici said.
This creates a “bottleneck” effect where people rent while building, but stay in those rentals longer than planned. For investors, this ensures high occupancy, but Mr. Mandanici warns that supply remains fragile.
REIWA modeling estimates nearly 20,000 rental properties were removed from the market during the pandemic, and further losses could occur if legislative changes are made.
“We know investors are sensitive to change. We know they will leave the market if the legislative environment does not support investment,” Mr. Mandanici warned, specifically citing concerns over potential changes to capital gains tax, negative gearing, and tenancy legislation.
Perth Rental Prices and Median Days
Speed remains a defining feature of the Perth market. Homes leased in a median of 15 days during March, one day faster than in February.
Efficiency was even higher in specific high-growth corridors. The suburbs recording the fastest median leasing times were:
- Hilbert: 8 days
- Gosnells, Clarkson, & Alkimos: 10 days
- Dianella & Banksia Grove: 11 days
In the sales sector, the focus on established homes continues. Houses sold in a median of nine days, while units sold in just eight days, as buyers seek immediate housing solutions amidst the construction delays mentioned by REIWA.
Conclusion
In summary, March 2026 has confirmed that Perth’s rental market remains under intense pressure with record median rents and a shrinking pool of available listings.
However, the external pressures on building costs and potential tax changes mean that maintaining a professional, data-driven approach to property management is more important than ever.
Is your investment achieving its full potential in this record-breaking market?
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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