Daniel Andrews must today rule out imposing damaging rent caps on Victorian households who are already struggling under worsening cost of living pressures.
A new report from the Property Council of Australia has found that almost three quarters of surveyed Victorians believe rent caps would result in a reduction of available properties to rent.
With Victorian rental vacancy rates at record lows and rents increasing faster than any other state or territory, any measure that will result in lower housing supply will only make a bad situation worse.
Every other Australian State and the Commonwealth Government has ruled out rent caps and Daniel Andrews must today do the same.
Shadow Minister for ³Ô¹ÏÍøÕ¾ Ownership and Housing Affordability, Jess Wilson, said instead of imposing market distorting rent caps, the Andrews Government’s focus must be on increasing housing supply, accessibility and affordability.
“A go-it-alone Victorian rent cap will only drive critical investment interstate, further erode confidence in the residential construction sector and ultimately result in higher costs for renters,” Ms Wilson said.
“Instead of implementing measures that only make things worse, the Andrews Government’s focus must be reducing Victoria’s nation leading property taxes and providing a regulatory system that can ensure a steady and sustainably supply of new housing across Victoria.
“With the Commonwealth and every other State saying no to the idea of rent caps, the Andrews Government must today do the same and rule out imposing a go-it-alone rent cap.”
