New analysis from the Parliamentary Library has shown that renters could have saved an average of $4,506 in rent per household, had Labor adopted the Greens proposal for a two-year freeze on rent increases when the Greens first called for it in 2022.
The savings for a typical household are equivalent to almost 10 weeks worth of current rents, or enough to cover a household’s rent from now until past Christmas.
In August 2022, the Greens called for the federal Labor government to coordinate the states to implement a two-year freeze on rent increases, with 2% caps on rent increases every two years afterwards.
The analysis uses data from breaks the findings down by state and uses ABS CPI figures and rental figures from CoreLogic.
|
State |
Average saving per occupied dwelling over 2 yr rent freeze |
Average saving per household per week |
Total saving as of number of weeks per year |
|
NSW |
$ 5,487 |
$ 52.76 |
10.5 |
|
VIC |
$ 3,392 |
$ 32.61 |
7.9 |
|
QLD |
$ 5,540 |
$ 53.27 |
11.7 |
|
SA |
$ 3,565 |
$ 34.28 |
9.2 |
|
WA |
$ 5,702 |
$ 54.82 |
11.9 |
|
TAS |
$ 835 |
$ 8.03 |
2.3 |
|
NT |
$ 3,709 |
$ 35.66 |
7.2 |
|
ACT |
$ 2,600 |
$ 25.00 |
4.8 |
|
Australia |
$ 4,506 |
$ 43.33 |
9.7 |
The analysis comes on the eve of the Queensland state election, where the Queensland Greens have run strongly with a policy of freezing and capping rent increases.
Both Steven Miles and David Crisafulli own investment properties, with previous Queensland Greens analysis finding the two leaders earned over $600,000 in rental income from their investment properties since the 2020 election.
The Queensland Greens have run their biggest ever door knocking campaign for the state election, with over 125,000 doors knocked across the Greens’ six renter-heavy target seats of Maiwar, South Brisbane, Cooper, McConnel, Miller and Greenslopes.
Lines attributable to Max Chandler-Mather, Greens spokesperson for Housing and Homelessness:
“In 2022 we warned Labor that there would be severe consequences for renters if they didn’t heed the Greens call for a two year freeze on rent increases.”
“This is the price renters pay for Labor’s failure. $4500 of rent increases per household in just two years, or nearly 10 weeks worth of rent.”
“$4,500 may not mean much to a property investor Prime Minister or Premier, but for renters it may be the difference between skipping meals and putting food on the table for their kids.”
“Renters in Queensland have a chance to show a property investor Premier and Prime Minister what they think of Labor’s decision to lock in unlimited rent increases.”
“When renters go to vote on Saturday in Queensland they will have a choice between a property investor premier and opposition leader who both oppose any cap on rent increases, or a Greens representative fighting to freeze and cap rents.”
“Renters are paying the price for Labor’s refusal to freeze rents, and now renters have the chance to make Labor pay at the ballot box.
“Labor has to make a choice: the 7 million renters facing financial misery as a result of unlimited rent increases, or themselves and their property investor mates who already stand to pocket $176 billion in tax handouts from this Labor government.”