The Winter Solstice on 21 June marks the shortest day of the year. From this point forward, each day becomes slightly longer. For many, it is simply a seasonal milestone. For property owners and tenants, it is also a useful reminder that a new financial year has begun. The start of a financial year creates a natural pause point. An opportunity to step back from day-to-day demands and ask a simple question:
Are we prepared for the year ahead? For Western Australian property owners, the answer matters more than ever.
Perth enters the new financial year from a position of strength
Despite economic uncertainty globally, Western Australia continues to outperform most of the country.
WA’s domestic economy grew by 3.3 per cent during 2025, exceeding the national growth rate of 2.5 per cent. Private sector investment remains strong, employment levels remain resilient, and population growth continues to place pressure on housing supply. Western Australia also recorded the fastest population growth of any state at 2.2 per cent, with both interstate and overseas migration continuing to support housing demand.
These fundamentals continue to underpin the Perth property market. According to REIWA, Perth’s median house price reached $890,000 during the March 2026 quarter, while median unit prices rose to $635,000. By May, median house prices had increased further to approximately $920,000, representing annual growth of more than 16 per cent. At the same time, Perth’s rental vacancy rate sat at just 2.0 per cent in March 2026, below the 2.5–3.5 per cent generally considered a balanced market.
While conditions vary across suburbs and property types, the overall picture remains clear. Demand continues to exceed supply.
What should property owners review now?
The beginning of the financial year is not necessarily about making major changes. It is about ensuring your property is positioned correctly.
- Review rental performance
Has your property’s rental position kept pace with the market? Equally important, does the current rental strategy support tenant retention and long-term occupancy? The strongest investment outcomes are rarely created through frequent tenant turnover. Stable, quality tenancies often deliver better long-term returns than short-term rental gains.
- Assess maintenance proactively
Winter has a habit of exposing issues that may have gone unnoticed throughout the year. Roofing concerns, gutter blockages, moisture ingress, drainage issues and ageing fixtures are all easier and less expensive to address before they become emergency repairs. A well-maintained property not only protects capital value but also contributes significantly to tenant satisfaction.
- Organise property records
While Time Conti Sheffield does not provide financial or taxation advice, July is an excellent time to ensure property-related records are organised and accessible. Maintenance invoices, insurance documentation, council notices and other property records are often easier to manage when reviewed throughout the year rather than at tax time. For specific taxation advice, owners should always seek guidance from their accountant or financial adviser.
- Plan for future improvements
Not every improvement needs to be undertaken immediately. However, the start of a financial year is an ideal time to identify priorities for the next 12 months. Whether it is repainting, flooring upgrades, landscaping, energy-efficient improvements or general refurbishment, strategic improvements can enhance tenant appeal while protecting the long-term value of the asset.
A new financial year matters for tenants too
The beginning of a new financial year is equally relevant for tenants. Just as owners review their investment, tenants can benefit from reviewing their tenancy arrangements and household planning.
We encourage tenants to:
- Ensure contact details remain current.
- Review lease expiry dates and important tenancy documentation.
- Report maintenance concerns promptly.
- Check smoke alarms and safety features are operating correctly.
- Prepare early if circumstances may change during the coming year.
Open communication allows issues to be addressed early and helps create positive outcomes for both tenants and owners.
Looking beyond the next quarter
Property remains one of the most long-term investments most Australians will ever own. Markets will rise and fall. Interest rates will move. Economic conditions will change. What remains constant is the importance of preparation. The owners who consistently achieve strong outcomes are rarely the ones making reactive decisions. They are the ones who plan ahead, maintain their assets, build positive tenant relationships and take a long-term view. As the days begin to lengthen following the Winter Solstice, the new financial year provides an opportunity to do exactly that. Not simply to manage a property. But to position it for success over the year ahead.
The information in this article is general in nature and should not be considered financial, taxation or legal advice. Property owners should seek professional advice relevant to their individual circumstances.
