The Perth property market has kicked off 2026 with a clear and resounding message: demand is not just high; it is historic. After a period of relatively stable growth throughout much of last year, January delivered a sharp correction in rent prices and a continuation of the record-breaking sales trend that has come to define the Western Australian capital.

For homeowners, investors, and tenants, the January data serves as a vital barometer for what to expect in the months ahead. From median rents hitting new ceilings to the median house price continuing its upward climb, here is the full breakdown of the Perth market this month.

The Rental Market: A January Surge

After nearly a year of low growth, January saw significant movement in Perth’s rent prices. The median dwelling rent rose to $720 per week, marking a 2.9% increase over December 2025 and a substantial 7.5% jump compared to the same time last year.

This surge was felt across both houses and units:

  • Houses: The median weekly rent for houses climbed to $725, a 3.6% monthly increase.
  • Units: The median weekly rent for units reached $690, a 1.5% increase over the month.

Why the sudden jump?

REIWA President Suzanne Brown noted that January often brings seasonal shifts. The “back to school” rush is a primary driver, with families working hard to secure properties within specific school catchments before the first term begins. Additionally, growth in more expensive suburbs has pulled the median figures higher. However, these seasonal factors are playing out against a backdrop of chronic undersupply.

The Investor Paradox and the RTA Review

The current rental climate is a direct result of the “investor exodus” that began several years ago. Since the lifting of COVID-19 rental moratoriums in 2021, nearly 20,000 properties—roughly 8.4% of total rental stock—were removed from the WA market as investors looked elsewhere or sold to owner-occupiers.

While supply has shown slight improvements over the last 18 months, the market remains “delicate.” A major concern for the industry is the upcoming review of the Residential Tenancies Act (RTA).

“Investors are sensitive to legislative change,” Ms. Brown warned. “We are seeing growing calls for the removal of ‘no grounds’ terminations. We need to be careful of unintentionally impacting those we are trying to protect with any legislative change.”

For investors, the message is one of caution: while yields are strong, the legislative landscape is shifting. For tenants, the reality remains a high-competition environment with a vacancy rate that refuses to budge from record lows.

Suburb Spotlights: Rental Growth

Where is the growth happening? In January, several suburbs saw double-digit or high single-digit increases in their weekly medians:

  • House Rents: Bayswater and Scarborough both saw 4% growth, with Scarborough rents now sitting at a median of $915 per week.
  • Unit Rents: Maylands was the standout performer for units, with a massive 12.7% jump to $620 per week.

Sales Market: $855,000 and Counting

The sales market isn’t showing signs of fatigue either. Perth’s median house sale price reached a new record of $855,000 in January—a 13.2% increase compared to a year ago. Even with the recent interest rate rise, the market’s momentum appears shielded by the sheer lack of available stock.

Speed is the Name of the Game

If you are looking to buy or sell, you have to move fast. In January:

  • Houses sold in a median of just 9 days.
  • Units sold even faster, with a median of 8 days.

Suburbs like Woodvale, Palmyra, and Brabham are currently the “sprinters” of the market, with homes finding buyers in as little as five days. This rapid turnover is being fueled by a listings environment that is 50% lower than it was in January 2025. While new listings typically increase in February and March, they are coming off such a low base that the upward pressure on prices is expected to continue.

Looking Ahead

The Perth market remains a seller’s and landlord’s market, but the “imbalance” is the defining characteristic. Potential sellers are often hesitant to list because they fear they won’t find a new home to move into, which keeps active listings low and competition high.

Whether you are looking to capitalize on record-high sales prices or want to ensure your rental investment is being managed correctly in a shifting legislative environment, having up-to-date local knowledge is your best asset.

Curious about what your property is worth in today’s record-breaking market? Contact our team today for a free, no-obligation appraisal and find out how these latest trends affect your home’s value.