Figures released this week have confirmed the concerns of many Western Australians, that the Carpenter Government has failed to deliver affordable housing.
Shadow Minister for Housing and Works John McGrath said that he was not surprised that the latest Social Trends data, from the ABS, showed that more Generation Y’s were unable to enter the market independently and were deciding to stay at home instead.
The ABS data also showed that, in terms of buyers entering the market in 2005-06, the proportion of homeowners in WA with a mortgage was higher than the national average with only 29.8% of Western Australians being mortgage-free, well below the national average at 34.3%.
“WA has the second highest proportion of homeowners with a mortgage, coming in just behind the ACT,” Mr McGrath said,
“Meanwhile, the ACT was offering (on average) over $14,000 more per loan to first homebuyers than WA in 2007.
“The WA Government has not responded to the housing crisis and has failed to deliver a strategy to address the shortages and affordability issues in the market.
“Buyers are subjected to a significant cost burden to attain the Australian dream of home ownership as a result of the Carpenter Government’s inept management, and the latest data confirms this failure.”
Furthermore, the Office of the Valuer-General’s recent reassessment of rental values for homes showed that rents in Perth have climbed by up to 25% in the past year.
“We have the highest increases in rents due to a lack of rental supply and a failure of the Carpenter Government to introduce a housing strategy (as promised),” Mr McGrath said,
“REIWA has predicted that while there might be a slight improvement in the next 6 months, the rental market looks likely to tighten in 2009/10. The housing problem is not being addressed by the Labor Government.”