Perth's first increase in median weekly rent prices since the December 2016 quarter could signal the start of a recovery for the market, Real Estate Institute of WA President Damian Collins says.

New data from REIWA has revealed both Perth’s house and unit median rent price have risen $10 per week to $360 and $330, since June 2018.

According to the research, the top-performing suburbs for rent price growth in the June quarter were in the upper mid-range of the market.

At a glance:

• New data from the Real Estate Institute of Western Australia has indicated an increase in Perth's weekly median rent prices.
• There were 7,448 properties for rent in Perth at the end of the quarter, which is 10 per cent more than the March quarter, however, 15 per cent less than June 2018.
• Both Perth’s house and unit median rent price have risen $10 per week to $360 and $330, since June 2018.

Mr Collins said the softer sales market over the last few years had led some property owners to rent their properties instead of selling.

"This quarter we have seen a 15 per cent decrease in listings for sale and a 10 per cent increase in listings for rent, which demonstrates that some owners are choosing to hold and rent their properties, rather than selling," he said.

"Aside from the increase in house and unit median weekly rent, it takes only 41 days on average to lease out a property whereas it takes around 79 days to sell.

“The increase in the rental market activity could be the start of recovery, a factor we are keen to keep an eye on for the second half of the year."

There were 7,448 properties for rent in Perth at the end of the quarter which is 10 per cent more than the March quarter, however, 15 per cent less than June 2018, demonstrating a significant annual decrease.

At the same time, there were 11,954 properties leased during the June 2019 quarter compared to 13,959 properties leased the previous quarter.

Mr Collins said that, despite stock levels increasing, landlords still had a good chance of securing a tenant, provided they listen to the advice of their property manager and price their rental in line with market expectations.

“It is six days faster to lease a property than it was during last year’s June quarter, which is a notable improvement," he said.

“Although leasing activity softened during the June quarter, activity levels remain above long term averages.

"With key indicators of Perth’s rental market improving or stabilising this quarter, we can expect these positive trends to continue.”

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