Housing groups in Western Australia are pushing for a 2 per cent annual cap on rent increases. Their “Cap Still Fits” report, from the Make Renting Fair Alliance, estimates Perth tenants could save almost $33,000 over five years.
Regional renters could save about $30,000 based on an average rent of $710 a week, and the report says those in places like Karratha, Exmouth and Port Hedland could save up to $58,812.
Broome financial counsellor Veronica Johnson says her rent rose from $480 to $740 a week since 2021. The only suitable option was a near-identical unit in her complex at $1,000 a week, and she could afford it only because her employer helped. Everybody’s Home says even $20 a week increases are hard for many tenants.
The Real Estate Institute of WA argues caps help current renters but discourage investment and do nothing about the shortage of rental homes. Commerce Minister Tony Buti says a cap isn’t being considered, though a second stage of reforms, including a ban on no-grounds evictions and minimum rental standards, will go to parliament this year.
What it means for your money
No cap is coming soon, so WA renters should budget for further rises and know the current rule: only one rent increase a year. If you’re renewing a lease, compare similar listings first so you can negotiate with facts.
Source: ABC Business