Western Australia Rental Market Update 2026: Mandurah, Peel & Perth Leasing Conditions, Vacancy Trends & Rent Forecast

Last updated: 7 February 2026

If you’re a landlord or tenant in Mandurah, the Peel Region, or Perth Metro, the rental market is still tight — but the pace of change has shifted.

This update focuses on WA leasing conditions, including rent direction, availability, vacancy trends, and a practical forecast for the next 6–12 months.

Jump to:

• WA Rental Market Overview (2026)
• Have rents gone up or down?
• Are there more rentals available?
• Vacancy rates (what “tight” actually means)
• Mandurah & Peel: local rental insights
• Rental market forecast: where WA is heading
• What this means for landlords
• What this means for tenants
• FAQ (Rental Market – WA)

📍 WA Rental Market Overview (2026)

Western Australia remains one of Australia’s most supply-constrained rental markets. The key change heading into 2026 is not that the market has “crashed”,  it’s that
rent growth has slowed and stabilised in many areas after several years of aggressive increases.

From a property management perspective, WA is now best described as a high-rent, low-vacancy market that is gradually normalising — meaning landlords still hold strong leverage,
but pricing and presentation matter more than they did at peak shortage conditions.

📈 Have WA rents gone up or down?

Across Perth Metro, REIWA data shows rents finished 2025 at record levels, with growth moderating compared to the prior year. In simple terms: rents are high, and increases have slowed.

• Perth Metro house median rent: around $700/week by late 2025 (stable for parts of the year).
• Perth Metro unit median rent: reached a record around $680/week over 2025 (growth slower than 2024).

Locally, Mandurah continues to be one of the most searched rental markets in WA, with median weekly rent figures commonly quoted around:

• Mandurah (houses): approx. $550/week (12 months to Dec 2025)
• Mandurah (units): approx. $540/week (12 months to Dec 2025)

Bottom line: WA rents have not meaningfully fallen overall. The more accurate read is stability at a high level, with suburb-by-suburb variation.

🏘️ Are there more rental properties available?

Compared to the most extreme shortage periods, there has been some improvement in rental supply — but not enough to call it a “balanced” market.
When new stock hits the market in Perth, Mandurah, Rockingham, Baldivis, and Kwinana, well-presented homes still lease quickly.

A practical way to view the current market is:

• More choice than the worst periods (slight improvement in listings)
• Still undersupplied overall (good rentals get snapped up)
• Overpriced or poor-condition homes sit longer (pricing accuracy matters again)

📉 Vacancy rates (what “tight” actually means)

Vacancy rate is one of the clearest indicators of rental pressure. REIWA notes that a vacancy rate between 2.5% and 3.5% is typically considered a “balanced” rental market.

Perth’s vacancy rate improved through 2025 compared to earlier lows, which aligns with the “stabilising” feeling many landlords and tenants are noticing.
That said, in practical leasing terms, WA is still operating with low vacancy relative to demand.

Tip: If you want an accurate rental strategy, vacancy rate is only the starting point — the real driver is recent local leasing evidence (days on market, enquiry volume, and comparable lease results).

📍 Mandurah & Peel Region: local rental insights

Mandurah isn’t one suburb — it’s a regional rental ecosystem. Tenant demand behaves differently depending on the pocket:

Mandurah, Meadow Springs, Greenfields, Dudley Park, Coodanup, Erskine, Falcon, Halls Head, Silver Sands, Madora Bay, San Remo, Lakelands, Wannanup, Dawesville, Bouvard.

What we’re seeing on the ground (property management view)

• Family homes (3–4 bed, well-presented) remain the most competitive segment.
• Clean, low-maintenance homes rent faster and attract stronger applicant pools.
• Coastal lifestyle suburbs tend to hold rent better when conditions soften.
• Overpricing is punished more than it was 12–24 months ago (days on market increases quickly).

For landlords in Mandurah and Peel, the opportunity is still strong — but the best results come from correct pricing + strong presentation + proactive management.

🔮 WA rental market forecast: where things go next

Next 6–12 months (2026)

• Rents: likely to remain stable or rise modestly in high-demand pockets.
• Vacancy: may continue trending upward compared to historic lows, but still likely tight in most WA sub-markets.
• Competition: remains strong for well-priced homes; weaker stock will lease slower.

1–3 year outlook

• Meaningful easing depends on new supply (construction completions + investor activity).
• If supply improves, the market should move toward a more “normal” leasing environment (more choice, less bidding pressure).
• A sharp rental “crash” is unlikely without a major demand drop or a major supply surge.

🔑 What this means for landlords (Mandurah, Peel & Perth)

• Returns remain strong, but rent increases are less automatic.
• Pricing accuracy matters more in a stabilising market.
• Presentation wins — small improvements reduce vacancy risk.
• Process matters — screening, compliance, routine inspections, and documentation protect yield and asset value.

If you’d like a rental appraisal or a suburb-specific leasing strategy, we can provide a data-backed recommendation based on current leasing evidence.

Related: Mandurah Property Management | Request a Rental Appraisal

🧾 What this means for tenants

• You may see slightly more choice than prior years, depending on suburb and price point.
• Competition remains high for clean, well-located, well-priced homes.
• Strong applications still matter (documents ready, stable references, quick responses).

If you’re applying in Mandurah, Peel or Perth Metro, focus on speed + completeness — many unsuccessful applications fail due to missing information, not price.

❓ FAQ: WA Rental Market (Leasing & Property Management)

Is the WA rental market easing?

It’s easing in the sense that rent growth has slowed and supply has improved slightly, but rents remain high and the market is still tight in many suburbs.

Are rents going to drop in Mandurah?

Broad drops are unlikely without a significant supply increase. What’s more common is that overpriced homes sit longer, while correctly priced homes still lease quickly.

What vacancy rate is considered “balanced” in WA?

REIWA generally considers a balanced rental market to be around 2.5%–3.5% vacancy, depending on the region.

If you want a suburb-specific report for your property (Mandurah / Peel / Perth Metro), contact our team for a tailored leasing strategy and rental appraisal.

hello@mandurahcre.com.au
08 9521 9090