The largest state wants to make renting fairer for tenants but also says the long-term goal has to be to increase supply of housing.
NSW’s newly appointed rental commissioner, Trina Jones, and Premier Chris Minns have ruled out the notion of cappingeven as they push ahead with protections for tenants from no-grounds evictions, keeping pets and better guards around data and privacy.
Mr Minns said rental caps failed to work and were “the last thing I want to see” in Sydney’s tight rental market.“The reason those caps haven’t worked around the world is because it leads to inflationary pressure on rents in the short run, and I think it puts downward pressure on supply in the long run,” he said.
We’re going to miss out on our best and brightest from living and working and establishing businesses and families right here in this state.Ms Jones has also been tasked with reviewing rental affordability and supply, as well as encouraging longer-term rental agreements, investigating ways to improve energy efficiency for renters, developing educational resources for renters and owners, and monitoring current tenancy laws.
The NSW capital’s combined asking rents figure for units and houses ticked down just 0.1 per cent to $783.76 over the 30 days to 4 July, the first such decrease since March 2021, the consultancy’s figures showed. “There is an increase in the number of occupiers per dwelling. More and more renters are sharing the burden with each other. That might be easing some stock.”Mr Minns said the state’s rental crisis – which the SQM figures showed had pushed Sydney unit rentals up 25 per cent over the past year – would be resolved only by building more homes.
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