After a year of low growth, there was some significant movement in Perth's rent prices in January.
The median dwelling rent rose to $720 per week in January. This was 2.9 per cent higher than December 2025 and 7.5 per cent higher than the same time in 2025.
The median weekly rent for houses rose to $725, a 3.6 per cent increase over the month and 6.6 per cent higher than January 2025.
The median weekly rent for units rose to $690, a 1.5 per cent increase over the month and 6.2 per cent higher than January 2025.
REIWA President Suzanne Brown said it was fairly common to see strong shifts in rent prices in January, but while the increase was driven by price rises in more expensive suburbs and families securing rentals in the lead up to the new school year, it was a timely reminder about the state of the rental market.
"The WA rental market experienced several years of crisis conditions following a mass exodus of investors following the lifting of the COVID rental moratoriums in 2021. Our modelling shows nearly 20,000 properties – or 8.4 per cent of rental stock – were removed from the market," she said.
"As a result, the vacancy rate dropped to record lows and rent prices soared, driven by the massive imbalance between supply and demand.
"The rental market has shown some improvement over the past 18 months, which has been mainly due to an increase in supply, however, we are not out of the woods.
"Population growth remains high and we have constrained conditions in both the new homes market and the established homes market. These factors are maintaining strong demand for rental property.
"We cannot afford to be complacent about actions that might lead to another decline in supply and negatively affect the delicate state of the rental market.
"We know another review of the Residential Tenancies Act is coming up, and there are again growing calls for removing no grounds terminations.
"We also know investors are sensitive to legislative change and are capable of leaving the market if they feel conditions are unfavourable. We don't want this to happen again; the WA rental market still hasn't recovered from the previous exodus of investors.
"We all want improved outcomes for tenants, but we need to be careful of unintentionally impacting those we are trying to protect with any legislative change."
According to www.reiwa.com, the suburbs that saw the most growth in their median weekly house rent price in January were Bayswater (up 4 per cent to $780), Scarborough (up 4 per cent to $915), Southern River (up 3.3 per cent to $790), High Wycombe (up 3.1 per cent to $750) and Alkimos (up 2.9 per cent to $700).
The suburbs that saw the most growth in their median weekly unit rent price in January were Maylands (up 12.7 per cent to $620), East Perth (up 4.7 per cent to $785), Scarborough (up 4.3 per cent to $730), Mosman Park (up 3.9 per cent to $600) and Rivervale (up 3.8 per cent to $750).
Listings for rent
There were 2,087 properties available for rent on www.reiwa.com at the end of January. This was 21.6 per cent higher than December but 3.2 per cent lower than the same time in 2025.
Median leasing times
Homes leased in a median of 17 days during January, one day slower than December and a year ago.
www.reiwa.com data showed the suburbs recording the fastest median leasing times were Innaloo (eight days); North Fremantle (10 days); Success, Subiaco, Morley, and Piara Waters (11 days); Victoria Park and Como (12 days); and Willetton and Spearwood (13 days).
Perth sales market
Perth's median house sale** price continued its upwards trend, reaching a new record of $855,000 in January.
This was a 1.8 per cent increase on December and 13.2 per cent higher than a year ago.
The median unit sale price** also rose, increasing 1.7 per cent over the month and 17.6 per cent over the year to a record $600,000.
Ms Brown said that this week's interest rate rise was not expected to significantly slow price growth.
"While an interest rate increase can impact demand by reducing borrowing capacity, we don't see this increase having a major impact given the current market dynamics," she said.
"As this is the first rate rise since November 2023, we may see some first home buyers reassess their budget and borrowing capacity in the short term.
"However, the market continues to be driven by the ongoing imbalance between supply and demand, and this will maintain upward pressure on prices."
According to www.reiwa.com data, the suburbs that saw the most median house sale price growth in January were Yokine (up 2.8 per cent to $1,090,000), Woodvale (up 1.7 per cent to $1,175,000), Mandurah (up 1.4 per cent to $608,250), High Wycombe (up 1.3 per cent to $778,000), and Como (up 1.3 per cent to $1,600,000).
Hilbert, Thornlie, Wellard, Greenfields, and Golden Bay were also among the top performers, recording growth of 1 per cent or more over the month.
Listings for sale
According to www.reiwa.com data, listings for sale* across Perth rose to 2,444 in January, following the record low of 1,881 recorded at the end December 2025.
While this was 29.9 per cent higher than December it was 50.0 per cent lower than January 2025.
Ms Brown said active listings typically increased in January, but this increase came off a very low base and was still significantly lower than a year ago.
"New listings remain below the 10-year average, which is contributing to the low level of active listings," she said.
"Our members are reporting they are currently doing a lot of appraisals, which indicates people are interested in selling. However, potential sellers are facing challenges when it comes to finding somewhere new to live – either to buy or rent – so this is slowing the increase of new listings.
"Historically, new listings continue to increase into February and March, before declining in April due to the school holidays, Easter and ANZAC day public holidays. Due to the current constraints in the market, we may not see as much of an increase as we have in previous years.
"If this is the case, buyers can expect continued strong competition for homes, with properties selling quickly. This will maintain the upward pressure on prices."
Time on market
Houses in Perth sold in a median of nine days in January, no change from the previous month but 12 days faster than a year ago.
Units sold in a median of eight days in January, one day faster than December and nine days faster than a year ago.
According to www.reiwa.com data, the fastest selling suburbs for houses were Woodvale, Palmyra, Brabham, and Hilbert (five days), and Waikiki, Padbury, Golden Bay, Eglinton, Dianella, and Ballajura (six days).
* Active listings – the number of properties advertised on www.reiwa.com at any given time. New listings – new properties listed for sale.
** REIWA publishes an annual median sale price based on pending and settled sales.
