Perth Property Market Rental Trends January 2025
As landlords and property investors with investment properties in the Perth metro, one of the most valuable tools for staying ahead of the curve and making informed decisions is understanding rental trends. Based on that understanding, you can develop strategies that work for your property, making the most of the real estate market.
In this report, we will cover the key data and insights from January and early February 2025. This way, you can start off 2025 on the right foot and stay up to date with the rental market in Perth.
Number of Perth Property Market Listings and Rentals
The week ending on 2 of February saw 452 houses and 213 units rented out in Perth.
As for the number of available rental properties, there are 2,142 properties available for rent this week (1,496 houses and 646 units), demonstrating a good ratio of supply and demand.
Median Prices in the Perth Rental Market
Tracking median prices in the Perth property rental market enables you to review and adjust your prices based on market trends. As such, here is how the current landscape is looking.
Looking at the data for the 12 months ending in January, 2-bedroom houses were rented out for an average of $572 per week, while 3-bedroom and 4-bedroom rentals hovered around $650 and $710 per week, respectively.
As for unit rentals, 1-bedroom units are currently rented at $550 per week, while 2-bedroom units are rented at $630 per week. 3-bedroom units have claimed the spot as the highest-valued rental properties in Perth in January, reaching $700 per week.
Perth (23) came in first place as the top rental suburb, North of the river. Then came Alkimos and Maylands (13). As for the South of the river, the top popular rental suburbs were Baldivis (19), Rockingham (13), and Fremantle (12).
Perth Rental Prices and Median Days
The rental pieces and median days to rent have been increasing more slowly. In January, the median weekly rental price was $675 for houses and $640 for units per week. The number of median days in early February is 16.
In other words, despite the increase in rental prices from $650 for houses and $610 for units in November to $675 for houses and $640 for units per week, the demand for rental properties remains strong.
In August 2024, the median weekly rent was $650 for houses and $600 for units per week, with 19 days to rent, demonstrating an increase in prices that ranges between 3.8% and 6.7%.
Going back further to February 2024, Perth had a median weekly rent of $620 for houses and $560 for units, with 15 days to rent. Again, growth in rental prices has been milder, which has allowed the market to recover.
Conclusion
To conclude, the Perth property market has remained consistent with slow and steady growth. The number of median days shows that there is a good ratio of supply and demand.
This presents an opportunity for Perth property owners and landlords to adjust their pricing based on market dynamics. Contact HERE Property now for a FREE property appraisal!
