New research by the Tenants Union shows renters in western Sydney are facing staggering increases in weekly rents.
Over 35% of tenanted households in New South Wales are in rental stress, but recent figures by the Tenants Union show alarming increases throughout western Sydney, including:
- Median rents in Penrith rising seven percent faster than inflation since the election in 2019. The median rent in the area is about $4,500 a year greater than in 2019.
- Leppington recorded double-digit percentage increases in median rents since 2019. The median rent is now $6800 a year higher than in 2019.
Meanwhile, a report by Domain last month showed:
- Rents for Sydney houses increased by 12.1 percent in the last 12 months to $650.
- Rents for units increased by 18.6 percent in the last 12 months to $575.
- Rents in Sydney are the highest of any state capital, and in the last quarter rents in Sydney increased more than any other capital except Melbourne.
One in three NSW households are now renters. But that number will only increase, as rising house prices and stagnant wages continue make owning your own home increasingly difficult.
Labor announced a clear plan to give immediate relief to renters. They said that they will:
- establish a Rental Commissioner who will lead our rental reforms,
- ban secret rent bidding,
- outlaw evictions unless they are on reasonable grounds,
- make it easier for renters to apply to have a pet,
- implement a portable bonds scheme allowing renters to transfer their bond to a new property, giving them immediate cost of living relief,
- charge the Greater Cities Commission to review and rebalance population and housing growth by setting new housing targets matched to infrastructure, especially around Metro lines, and
- introduce a mandatory requirement for 30 per cent of all homes built on surplus government land to be set aside for social, affordable and universal housing.
“The recent data reinforces the alarming trend of western Sydney facing the brunt of the Liberal-Nationals Government’s inaction on the rental crisis,” Courtney Houssos, NSW Shadow Minister for Better Regulation and Innovation, said.
“Renters have been ignored and sidelined by this Government, which is why NSW Labor has a clear plan to offer immediate relief by ending secret rent bidding, introducing reasonable grounds for evictions and implementing a portable bonds scheme.
“We understand owning a home has slipped out of reach for many, and more and more people are renting for life. That’s why we have a plan to deliver fairer rules for renters.”
