Seven major retail projects slated for delivery in Perth by Q4 2026

The projects will yield over 53,000sqm of new stock.

Perth’s retail sector is gearing up for a wave of new supply, with a growing development pipeline set to deliver significant additional space by 2026, according to a report from JLL.

The report revealed that seven major projects are currently under construction, forecast to add 53,800 sqm of retail space by Q4 2026, alongside a further 22 approved developments totalling 222,700 sqm.

JLL notes that this forward pipeline comes off a prolonged period of subdued completions. Over the 12 months to Q4 2025, just 17,100 sqm was delivered across three projects—well below the 10-year annual average of 60,300 sqm. In the final quarter alone, only two major retail projects were completed, adding 10,300 sqm.

Despite the limited recent supply, JLL highlights that underlying market fundamentals remain supportive. The constrained delivery environment has helped stabilise conditions across retail sub-sectors, positioning the market for stronger rental performance as new space is gradually absorbed.

Looking ahead, JLL forecasts rental growth to accelerate over the medium term, with rents across all retail sub-sectors expected to rise by an average of 2.0% to 2.9% annually over the next five years, provided Western Australia’s household spending continues to trend positively and supply remains measured.

JLL adds that investment fundamentals in Perth are expected to remain resilient, particularly for non-discretionary retail assets, even in the face of potential interest rate increases. The combination of a controlled pipeline and steady demand is expected to underpin both leasing and investment activity as the market moves toward 2026.