Inside Perth’s crazy rental market, where there’s little relief in sight for tenants

Pressure within Perth’s rental market has started to ease slightly, but it could be short-lived as demand continues to outstrip supply on the back of tenants seeking competitively priced properties.

Data from PropTrack shows median house rents in the West Australian capital surged 11.8% year-on-year in January to $450 per week. For units, median prices jumped 12.9% to $395 a week.

“Momentum in the Perth rental market from 2021 has most definitely carried forward into 2022,” LJ Hooker WA and South Australia director Shane Kempton said.

“Even though the borders haven’t open in February, local demand still outweighs supply.

“Compared to this time last year, although demand is still high, we are not experiencing as much ‘panic’ enquiry. The majority of those who wanted to return to WA for full-time residency and/or to reclaim their investment properties as principle places of residence have done so.”