A new report has laid bare the Cook Labor Government\u2019s failure to address WA\u2019s rental crisis, revealing that mortgage repayments are now cheaper than renting in many parts of Perth.<\/p>\n\n\n\n
The Rent vs Buy Report<\/u><\/em><\/a>, <\/em>published today by real estate website Domain, compares the average cost of rent to mortgage repayments for houses and units around the country. <\/p>\n\n\n\n It found that in almost 83 percent of suburbs in Perth, it is cheaper to service a mortgage on a unit than it is to simply rent one. By contrast, the equivalent national figure sits at 22 percent. <\/p>\n\n\n\n When it comes to houses, it is more affordable to take out a mortgage than it is to pay for a rental in almost five percent of Perth suburbs \u2013 a stark contrast to Melbourne, Sydney and Adelaide, where renting a house is cheaper than buying in every suburb.<\/p>\n\n\n\n Of the top 10 localities in WA where a mortgage is more affordable than rent, more than half are in regional areas.<\/p>\n\n\n\n Tim Clifford MLC, Greens WA spokesperson for housing and homelessness:<\/strong><\/p>\n\n\n\n \u201cWhether you\u2019re a first home buyer or a renter, the takeaway from this report is clear: housing in WA is a zero-sum game.<\/em><\/p>\n\n\n\n \u201cIt is absolutely shocking that, in some parts of Perth, taking out a mortgage is now cheaper than renting.<\/em><\/p>\n\n\n\n \u201cWhile the Domain report heralds the data as good news for first home buyers, the reality is that house prices are still at record highs. In fact, the national average passed $1 million for the first time just last month.<\/em><\/p>\n\n\n\n \u201cThis is not a case of houses getting cheaper \u2013 it\u2019s a case of rentals becoming even more expensive and inaccessible. <\/em><\/p>\n\n\n\n \u201cRenters in WA are doing it tougher than anywhere else in the country. <\/em><\/p>\n\n\n\n \u201cThe blame for that lies squarely with the Cook Labor Government, who should be looking at introducing measures like a flexible rent cap as per the ACT; banning no-cause evictions; and moving quickly to address the adverse impacts of short-stays on the rental market. <\/em><\/p>\n\n\n\n \u201cThese urgent interventions would free up more homes, easing the squeeze on renters and the housing market itself. <\/em><\/p>\n\n\n\n \u201cI look forward to working constructively with the government to make that happen.\u201d<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" A new report has laid bare the Cook Labor Government\u2019s failure to address WA\u2019s rental crisis, revealing that mortgage repayments are now cheaper than renting in many parts of Perth. The Rent vs Buy Report, published today by real estate website Domain, compares the average cost of rent to mortgage repayments for houses and units around the … Continue reading “Buck stops with Cook Government on shocking new rental affordability data”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-33541","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/33541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=33541"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/33541\/revisions"}],"predecessor-version":[{"id":33542,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/33541\/revisions\/33542"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=33541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=33541"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=33541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}