RENTAL SUPPLY

TAKE THE PRESSURE DOWN

 

The private rental market is a critical part of the Australian

housing system, but it is broken and failing us as a nation.

Australians are under severe pressure from a chronic gap in

supply, lack of choice and growing unaffordability.

HOUSING

“In an increasingly tight housing market, it is time we improved the rights and conditions of people who live in rental properties.”

SENATOR SCOTT LUDLAM

 

The situation for Australian renters is dire. With a current supply gap of 539,000 affordable and available rental dwellings in Australia, the time to stand up for renters is now urgent.

 

WA’s rental crisis

 

WA’s private rental market is extremely unaffordable, and rents have almost tripled since 2000 in Perth. Just in the last year alone rents increased by 12.5% to $450 per week in Perth, and affordability has declined in regional areas. There is a severe shortage of supply and choice, and the long waiting lists for social housing in WA have also increased the pressure on the private rental market. There are about 23,000 applicants on the WA’s waiting lists, or almost 50,000 people. One quarter of all renters in Perth are in rental stress (paying more than 30% of their income on rent) and a household on the minimum wage currently pays about 72% of its income on a media priced rental compared to 35% a decade ago2.

 

The Greens are committed to urgently addressing this gap and standing up for all renters.

 

The Greens would invest over $200m per year to build 85,000 new affordable rentals over the next decade, benefiting more than 220,000 people and reducing the acute pressure in the rental market. This will translate to at least 8,500 new affordable rental homes in WA. For WA, this includes a plan to:

 

• Review and fund another 5,000 homes under the National Rental Affordability Scheme (NRAS) and provide an additional incentive to ensure they are exemplary green buildings and come with solar PV

• Provide funding for 2,000 student rentals through a new University NRAS scheme

• Provide funding for 1,500 new rental homes through our ‘Convert to Rent’ Initiative

• Include a target of one third pre-fabricated, fast build, modular housing

• Review the effectiveness of Commonwealth Rent Assistance

 

 

Authorised by Jess McColl & Trish Cowcher, the Greens (WA), Ground Floor 445 Hay St Perth