The rising rates are exacerbating the housing crisis in WA, exposing the precarious position the Carpenter Government has created for homeowners and renters alike.
Shadow Minister for Housing and Works, Mr John McGrath MLA, has criticised the Government’s failure to stabilise the market earlier on.
“The Carpenter Government has attempted to expand the State’s housing industry upon extremely weak foundations,” Mr McGrath said,
“Such a lack of planning foresight is inevitably always going to be exposed in times of economic instability to the detriment of a significant proportion of the population, such as with the current barrage of rate rises.”
The rate rises of the past few months have hit homeowners hard resulting in increases in housing stress.