The most recent data on wage growth and rent increases in Australia presents a stark picture of the escalating rental crisis, exacerbated by current Labor policies.
Data released by the ABS today shows wages grew by 1.3% in the September quarter. Meanwhile rents outpaced wages, increasing by 2.2% over the same period.
"The latest figures are a clear indicator of the failure of Labor's housing policies. Labor’s rental crisis is getting worse" Greens Economic Justice spokesperson Senator Nick McKim said.
"While wages have been crawling, rents have been sprinting, pushing more Australians into financial distress. This isn't just a housing issue; it's a crisis of economic justice and fairness."
“This trend is particularly alarming in the context of the broader economic challenges facing the nation, including the rising cost of living and the lingering impacts of the COVID-19 pandemic.”
“We badly need rent controls, now.”