property
Is Renting Actually Cheaper Than Buying Right Now?
Current figures in the Perth CBD show weekly rents for two-bedroom units averaging $620 while equivalent mortgage payments sit at $780 after recent rate movements.
How we reported this
Median weekly rent for a two-bedroom apartment in the Perth CBD reached $620 in June 2026, while the monthly mortgage cost on a comparable $620,000 unit now exceeds $3,380 once the 6.1 per cent variable rate applies.
The gap has widened since the Reserve Bank held rates steady through the first half of 2026, pushing borrowing costs above rental outlays for the first time since 2023 in several central postcodes. Local agents report tenants locking in 12-month leases at these levels while buyers face larger deposits and higher servicing tests.
Street-level examples
Units on St Georges Terrace near Elizabeth Quay list for $615 to $645 a week, with several managed by the same agency that handles stock on Murray Street Mall. Further east on Wellington Street, similar one-bedroom properties near the Perth Busport rent for $520, still below the $2,900 monthly repayment required on a $580,000 purchase price at current rates.
City of Perth planning records show 184 new apartment completions along these corridors in the past 12 months, adding supply that has capped rent growth at 3.8 per cent year-on-year while prices edged up 2.1 per cent.
Domain data released 3 July 2026 lists the median CBD unit price at $615,000, with investor yields sitting at 5.2 per cent gross. CoreLogic figures for the same period record 47 per cent of CBD sales settled with loans above 80 per cent loan-to-value, triggering higher mortgage insurance costs that further widen the monthly difference versus renting.
Next steps for households
Tenants weighing a move should compare the exact weekly rent on listings through local portals against repayment calculators using the 6.1 per cent benchmark rate. Buyers already holding deposits above 20 per cent can still model fixed-rate options offered by two major banks that lock in 5.85 per cent for three years, narrowing the gap on longer horizons. Checking stamp-duty concessions through the state revenue office remains essential before any contract exchange.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.