Business News
A growing number of Western Australians are experiencing housing stress and supply is failing to keep up with demand, new research shows.
The Bankwest Curtin Economics Centre’s latest housing affordability report reveals that more than 210,000 WA households consider their housing unaffordable, representing a 91 per cent uplift in two years.
The report also highlights the state’s low availability of dwellings for renters and mortgage holders.
Between March 2023 and September 2024, just 694 rental homes were added to the market in WA, despite population growth in that period of 119,000.
This means that WA has a 7,700 shortfall of rental properties, with the undersupply driving up rental costs and exacerbating housing stress.
“We are witnessing a breakdown in the ability of WA’s housing system to meet the needs of ordinary West Australians,” Professor Alan Duncan said. “We’re building more homes, but it’s not enough to meet demand. Housing costs continue to rise faster than incomes and what’s being built often isn’t where people want or need to live.”
Visit Business News to read the article in full, including further comments from Professor Alan Duncan.