Renters to get stronger protections in red-hot market

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Tenants are set to get additional protections in Australia’s red-hot housing market, but the property sector has warned a Greens plan to cap rent increases would be damaging to supply levels.

met with her state and territory counterparts in Canberra on Wednesday, as Labor’s Housing Australia Future Fund legislation remains stuck in limbo in federal parliament.

The minor party says 75,000 affordable homes are needed over the period, and the $500 million maximum the fund could spend each year is insufficient.“Delays to the passage of this important piece of legislation will put this delivery at risk, delaying Australians’ access to safe and secure housing, delaying much needed investments in acute housing needs and delaying action in the midst of serious housing challenges,” the letter said.

NSW Housing Minister Rose Jackson told ABC TV the meeting agreed protections for renters needed to be strengthened. In Sydney and Melbourne, rental markets are extremely tight, with the number of available properties falling rapidly over the past year, driving advertised rents increasing sharply.

 

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