Perth Retail Figures Q1 2026

Key Points:

• Monthly household expenditure in Western Australia remains robust, rising 7.4% y-o-y (seasonally adjusted) as of February 2026, driven by infrastructure investments and demographic trends.
• Retail development supply remained muted in Q1 2026, with no new completions. Around 119,400 sqm is forecast for 2026, led by LFR centres (65%) and Neighbourhood centres (27%).
• Super prime CBD incentives have decreased to an average of 17.5% from 25.0% a year ago, leading to average net effective rent growth of 10.0% y-o-y.
• LFR net face rents increased 1.9% q-o-q and 5.7% y-o-y to an average of $260/sqm. Population growth, tight supply and strong performance in the top-tier centres are driving growth.
• Regional centre net face rents increased by 1.3% q-o-q and 3.5% y-o-y to reach an average of $1,415/sqm.
• Regional centre yields were stable q o q and tightened by 25 bp y o y, while large format retail yields were flat q o q and compressed 10 bp y o y.
• Q1 2026 retail investment volume reached c.$288.4 million (for transactions ≥ $5 million).