Shire of Harvey records highest rise in rental prices in South West region in 2023, with 16 per cent increase

New rental data has laid bare the challenges for renters in the shire of Harvey, who are facing significant rises in rents and a lack of supply. The area experienced the highest increase in median rents in the South West region in 2023, according to data released by Domain earlier this month. Average weekly payments rose by 16 per cent in the 12 months to December, with tenants in the shire now paying a median rent of $580 a week. The figure is a 65.7 per cent increase on the $350 a week which was the median rent price at the end of 2018. Analysis conducted by MCG Quantity Surveyors found there were only two rentals on offer in the Harvey-Myalup area out of a total of 106 in December, while the Australind-Leschenault-Binningup area had 17 rental properties available out of 802. The results in the region are in stark contrast to data from other parts of the country, with 17 regional suburbs across Australia seeing a reduction in rental prices. No regional location in WA has experienced a decline. Within the South West, only Augusta-Margaret River had an annual rise of less than 10 per cent, but its prices were still more than 50 per cent higher than they were five years earlier. Bunbury’s median price has increased by more than 73 per cent over the last five years to sit at $520 per week. The region also dominated the list of postcodes with limited listings in regional WA, with the 6239 postcode — which encompasses Donnybrook —having just one rental available out of the 103 rentals in the area. There were only two available rentals in Collie and Noggerup-McAlinden, while Eaton and Millbridge had only 15 properties available despite having one of the highest total numbers of private rentals in the region.