HOUSING COSTS THROUGH THE ROOF IN MACQUARIE
Housing costs in the Blue Mountains and the Hawkesbury have skyrocketed in the last 12 months.
House prices in the region have jumped by up to 29.9 per cent[1], much more than the national average of 21.9 per cent.
The cost of rent has also skyrocketed. Rent in Sydney has increased 5.5 per cent in the last 12 months. In some parts of Macquarie, it has jumped by two or three times that.
HOUSE PRICES | ||
SUBURB | MEDIAN PRICE | ANNUAL INCREASE |
North Richmond | $776,600 | 22.5% |
Wentworth Falls | $870,000 | 29.9% |
Glenbrook | $1,204,690 | 24.5% |
Lawson | $745,000 | 21.8% |
Hazelbrook | $710,000 | 19.3% |
Source: Domain House Price Report, September 2021
COST OF RENT | ||
SUBURB | MEDIAN PRICE | ANNUAL INCREASE |
Katoomba | $460 | 9.5% |
Blackheath | $450 | 9.8% |
Leura | $545 | 16.0% |
Wentworth Falls | $500 | 8.1% |
Springwood | $490 | 8.9% |
Blaxland | $520 | 8.3% |
Windsor | $480 | 14.3% |
Source: Domain Rental Report, September 2021
This makes it harder and harder for young people to buy a home in the Blue Mountains and the Hawkesbury.
It’s no wonder the number of first home buyers signing up for loans has dropped by 27.1 per cent compared to this time last year.
Twenty years ago, the average home cost four times the average salary. Now, it’s almost twice that.
It’s harder to buy than ever before, it’s harder to rent than ever before and there are more homeless Aussies than ever before.
One of the leading causes of homelessness is domestic and family violence. After years of neglect and underfunding by the Morrison Government, local domestic violence shelters are under resourced and unable to tackle the scale of this crisis.
Every year across the country more than 10,000 women and children fleeing violence, including woman and children in our community, are turned away from shelters because there isn’t a bed.
After almost a decade in Government, housing affordability has only got worse under the Liberal-National Government.
There is no single thing we can do to fix this, but one of the most obvious things we can do is build more housing.
That’s what Labor’s Housing Australia Future Fund will do – build 30,000 social and affordable homes right across the country help reduce homelessness across Australia. Over the first five years, it will build:
- 20,000 new social housing properties, including 4,000 homes for women and children fleeing domestic and family violence and older women on low incomes who are at risk of homelessness; and
- 10,000 affordable homes for the heroes of the pandemic – frontline workers like police, nurses and cleaners that kept us safe in the COVID pandemic.
THURSDAY, 18 NOVEMBER 2021
MEDIA CONTACT: ARLEY BLACK 02 9790 2466
