Tenants would have saved as much as $3000 over the 12 months to March, and proponents of a rent freeze say the cash would be life-changing.
Experts say the savings, as much as $3000 per household, would help renters in the cost-of-living crisis.Renters in Australia’s capital cities would have saved $3.8 billion over the 12 months to March if rents had been frozen, new analysis reveals.
A rent freeze has been part of the national housing conversation since it was proposed by Australian Greens housing spokesperson Max Chandler-Mather in 2022. The proposal was widely panned by economists and the housing industry but has become a favoured solution to runaway housing costs by tenants and their advocates.
Dignam said the analysis used asking rents and did not capture existing tenancies but said it was intended to be high-level. Dignam offset this shortcoming by weighting increases on Domain data against the percentage increases recorded in ABS figures. Tenants Union NSW chief executive Leo Patterson Ross has long compared housing costs to those of other essential services, which are more tightly regulated by governments.
“ is absolutely a compelling figure, but we can’t look at it in isolation. With any policy, there are unidentified consequences.” “Independent analysis of our supply plan by the Grattan Institute found that it could put significant downward pressure on rents, saving renters $32 billion in payments to landlords and real estate agents over the next decade.”come under fire for focusing on housing approvals rather than completions
“We have a property there we were renting 18 months ago for $680, and it’s been vacant for just over two months,” he said.
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