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New South Wales introduces rental commissioner to combat rising house prices

New South Wales plans to appoint a new rental commissioner to combat rising rental prices.

Homeless Australia Chief Executive Trina Jones joins her role as the state’s first Rent Commissioner and pledges to be a voice for renters.

Her appointment comes amid expectations of a “tremendous” increase in rents across Australia, especially in Sydney, the country’s most expensive rental market.

camera iconSydney is at the forefront of soaring real estate prices. NCA Newswire/Jeremy Piper credit: News Corp Australia

While the national average for rental properties has risen 11.8% to reach $520 a week, rental prices in Sydney have risen 13.8% over the past year to reach $620 a week, according to Proptrack.

Despite a staggering 19% increase over the past 12 months, apartment prices are slightly below the median weekly price of $595.

“My mission in assuming the role of rental commissioner is to amplify the voice of renters, strengthen their rights and improve equity in the rental market,” she said.

“We look forward to working closely and productively with government, industry, renters and owners across the state as we collectively explore solutions to housing challenges.”

The CEO of Homelessness Australia has been announced as the new rental commissioner.
camera iconThe CEO of Homelessness Australia has been announced as the new rental commissioner. credit: Supplied

Jones will work with state governments to design and implement legislative changes aimed at “rebalancing the rental market” and making it fairer.

The reforms Jones plans to undertake when he assumes the role include ending “unfounded” evictions, improving protections for renters’ information and privacy, and making it easier for renters to keep pets.

NSW Premier Chris Mings said her appointment was an “important step”.

“Anyone renting a property in New South Wales knows how intimidating and difficult the process of finding suitable accommodation can be, not to mention rising rents and cost-of-living pressures,” he said. says.

“I look forward to working with the new commissioners to make our state a fairer place for both renters and owners.

“We can’t solve a long-standing problem in the rental market overnight, but we have already started and are determined to do more.”

Sydney rental market
camera iconQueues for property inspections are common around Sydney. NCA Newswire/Jeremy Piper credit: News Corp Australia

All of Australia is facing rent increases, but the problem is particularly acute in New South Wales.

Rents in the capital have risen by a “staggering” 17% over the year, led by Sydney and Melbourne.

“The rental market continues to be very tough for renters, with strong demand and very limited vacancies, with rents falling in most areas of the country,” said Proptrack report author Angus Moore. is soaring,” he said.

“This is especially true for Sydney and Melbourne, where weekly rents rose significantly after falling in 2020 and 2021.”

Those who want to buy an apartment at a lower price are making a big mistake, as the cost of renting an apartment will rise significantly.

Sydney rentals have risen 19.0 per cent over the past year, followed by Melbourne at 17.5 per cent and Brisbane at 15.3 per cent.

https://thewest.com.au/news/nsw-introduces-rental-commissioner-to-combat-soaring-house-prices-c-11238453 New South Wales introduces rental commissioner to combat rising house prices

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