Cottesloe and Leederville recorded no empty shops and Fremantle’s South Terrace posting the sharpest improvement.
The report, written by director of capital markets Brett Wilkins and capital transactions analyst Struan Nel, found 3,181sqm vacant across 97,694sqm of net lettable area at eight strips.
That is down from 5.76 per cent in 2025 and less than a third of the 12.10 per cent pandemic-era peak in 2020.
The survey, conducted on foot as at 31 August, covered 715 shopfronts, 34 of them vacant (4.76 per cent by shop count).
“When we began this survey a decade ago, the retail landscape looked starkly different,” Mr Wilkins said.
“We watched vacancy climb steadily to a worrying peak in 2020 as lockdowns and economic uncertainty hit. To see that same footprint bounce back to 2.77 per cent across our original five strips today is an extraordinary testament to the resilience of Perth’s strip retailers and the public demand for experiences different to shopping centres.”
Napoleon Street in Cottesloe and Oxford Street in Leederville recorded no vacant shops. Leederville’s vacancy was 5.95 per cent a year earlier.
“With seven of the eight tracked strips showing year-on-year improvements, this is unambiguously the strongest, most stable retail environment we have documented in a decade,” Mr Wilkins said.
South Terrace in Fremantle delivered the largest improvement, with vacancy falling from 20.10 per cent to 7.38 per cent. A further 885sqm across two tenancies is under development and is not counted as vacant. Fremantle remains the highest-vacancy strip in the survey.
Subiaco’s Rokeby Road improved from 8.78 per cent to 4.99 per cent, while Beaufort Street in Mount Lawley–Highgate eased to 2.58 per cent.
Albany Highway, the largest strip with 230 shops, fell from 6.51 per cent to 3.43 per cent.
Scarborough Beach Road in Mount Hawthorn was the only strip to deteriorate, with vacancy rising from 0.83 per cent to 3.70 per cent.
The report showed that hospitality is the dominant use. Cafés and restaurants occupy 30.4 per cent of surveyed floor area, ahead of services at 22.5 per cent, while pubs, taverns and bars account for a further 9.3 per cent and clothing and soft goods 9.6 per cent.
The survey recorded 99 tenancies as new traders and seven vacancies filled, with Beaufort Street recording the most new operators at 26, followed by Albany Highway with 23.
