Plunging rental vacancy rates increase pressure on struggling WA families
Perth’s rental market is under the pump as less than 1% of the metropolitan rental market is vacant, pushing struggling families to the edge as they are unable to afford their living arrangements.
Damian Collins, President of REIWA told Gary Adshead on 6PR Mornings that this has been a challenge due to a massive shortage in rental properties.
“The thing we need to do the most is get labouring. The biggest problem we have is after the mining bust in 2014/15, the housing industry took a massive turn,” Mr Collins said.
“We know there are thousands and thousands of people in rental properties waiting for their homes to be built. That is the only thing in the short term – we need to build 20,000 homes in the next four years.”
Press PLAY to hear the long term plan to fix this situationĀ