Rental affordability ‘collapses’ in WA
West Australian renters need a household income of nearly $130,000 a year to keep up with median rents and avoid housing stress, a new report reveals.
Anglicare WA’s latest Rental Affordability Snapshot has painted a grim picture for the state’s rental market, where there are almost no properties affordable for low-income households and people on income support are “completely locked out”.
There were 209 fewer private rentals available in WA in the snapshot timeframe of March 14-15 compared to the same time last year, and the median rent is $747 a week, up 10 per cent from the previous year, 15 per cent from 2024, and 74 per cent from 2021.
The report found renters needed to earn more than $55,000 a year extra since 2021 to keep pace with median rent rises.
Looking regionally, the report found the state’s North West was the least-affordable area to live in, with median rents of $1025 a week, while outside the Perth metro area the next most-expensive regions to live in were the South West and Great Southern, where median rents were about $680 a week.
Just one rental nationwide was deemed affordable for a person on JobSeeker.
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Making headlines today is more news from our housing market, where prices have been on a hot streak not seen in 20 years.
New data from Domain reveals Perth’s house prices have risen for 14 consecutive quarters – a level of growth not seen since 2000-2007 – as rampant demand and lagging supply combine to maintain the pressure on the market.
However, there are warnings buyers could be hitting an “affordability ceiling” as looming tax changes take the shine off WA’s market for investors.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: www.smh.com.au
