Perth rental crisis: WA capital ranked Australia’s second-worst city for rental affordability | Ralph Lauren

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Tenants across Australia are grappling with the toughest rental market in decades, with Western Australia recording one of the country’s largest drops in affordability.

A major economic report revealed that Perth recorded an equal second-worst drop in rental affordability for a major Australian city — plunging by 10 per cent — while the State’s regional areas fell by 8 per cent.

Every city except for Hobart and Canberra has had affordability worsen according to National Shelter and SGS Economics’ latest Rental Affordability Index, a study which laid bare a “rapid deterioration” of prices across all major cities.

Sydneysiders were the worst off, with affordability dropping by an eye-watering 13 per cent.

However Perth and Melbourne both took the unenviable second spot, each experiencing a 10 per cent drop.

With rental affordability so low, there are concerns that things could become even more dire for renters according to National Shelter chief executive Emma Greenhalgh.

Only one Perth postcode around Winthrop and Bateman offers affordable rents — costing 15 per cent or less of the average income.

“Perth has suffered one of the steepest declines in affordability among capital cities, behind only Sydney, while regional WA has only declined more than every rest of the State area,” Ms Greenhalgh said.

“From Fremantle to Fitzroy Crossing, WA renters have been smashed by some of the worst rent rises in the country over the past year.

“This dire rental crisis is caused by a chronic shortage of available and affordable homes, an issue which requires continued urgent co-operation across the WA housing sector and government.”

Ms Greenhalgh confirmed the problem was widespread across the nation, and was set to worsen with interest rates once again on the rise.

“In the past year, renters have been smashed with enormous rent hikes well beyond income growth,” she said.

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