Latest news with #HousingAffordabilityinWesternAustralia
The Age
3 days ago
- Business
- The Age
WA ‘not doing enough' to fix worsening housing crisis
The scale and severity of Western Australia's housing crisis for both renters and home owners with a mortgage has been laid bare as new data reveals more than 210,000 households now consider the situation to be unaffordable. The Bankwest Curtin Economics Centre's Housing Affordability in Western Australia 2025 Report, released late on Wednesday night, showed that number was up by 91 per cent since 2022. Only 39 per cent of WA renters and 48 per cent of mortgage holders now believe housing is affordable. The report draws on new insights from the 2024 Australian Housing Conditions Data Infrastructure Survey, which captures national lived housing experiences, as well as WA suburb-level rental analysis to present a comprehensive picture of the state's housing pressures. It showed there has been growing pressure across the state from rapid population growth, sluggish housing supply, soaring rents and construction delays. While more than 20,000 homes were completed in 2024 – the highest number since 2017 – WA still fell 4000 homes short of the National Housing Accord target. 'We are witnessing a breakdown in the ability of the state's housing system to meet the needs of ordinary West Australians.' Alan Duncan Perth was also 7700 rental homes short of simply keeping pace with population growth from March 2023 to the end of 2024. That shortfall in rental stock has driven the median weekly rent to $740 — a 76 per cent increase since 2020.
Sydney Morning Herald
3 days ago
- Business
- Sydney Morning Herald
WA ‘not doing enough' to fix worsening housing crisis
The scale and severity of Western Australia's housing crisis for both renters and home owners with a mortgage has been laid bare as new data reveals more than 210,000 households now consider the situation to be unaffordable. The Bankwest Curtin Economics Centre's Housing Affordability in Western Australia 2025 Report, released late on Wednesday night, showed that number was up by 91 per cent since 2022. Only 39 per cent of WA renters and 48 per cent of mortgage holders now believe housing is affordable. The report draws on new insights from the 2024 Australian Housing Conditions Data Infrastructure Survey, which captures national lived housing experiences, as well as WA suburb-level rental analysis to present a comprehensive picture of the state's housing pressures. It showed there has been growing pressure across the state from rapid population growth, sluggish housing supply, soaring rents and construction delays. While more than 20,000 homes were completed in 2024 – the highest number since 2017 – WA still fell 4000 homes short of the National Housing Accord target. 'We are witnessing a breakdown in the ability of the state's housing system to meet the needs of ordinary West Australians.' Alan Duncan Perth was also 7700 rental homes short of simply keeping pace with population growth from March 2023 to the end of 2024. That shortfall in rental stock has driven the median weekly rent to $740 — a 76 per cent increase since 2020.
