New Sydney rent data shows action needed

New data regarding rent prices in Sydney is alarming and requires serious action by the state government to protect renters in Sydney, according to Jenny Leong MP, The Greens NSW Rental Housing spokesperson and Member for Newtown.

Article from page 2-3 of today's SMH.

"These latest figures show the steepest annual rise in rents in five years. Rental prices is Sydney have now gone from the ludicrous to absurd," she said.

"First home buyers trying to save for a deposit are not to blame for increased rents. It is successive NSW governments who have failed to take any action to protect the rights of renters.

"The NSW Liberal/National government seemingly has no idea what to do when it comes to escalating rents, particularly in Sydney.

"The NSW Budget released two-weeks ago had no signs of relief for people struggling to pay rents in Sydney and across NSW.

"The 2015-16 Budget benefits from a boom in stamp duty revenue, driven by Sydney's red hot property market, but there were no effective measures addressing housing and rental affordability.

"Increasing supply will not solve the housing affordability crisis. NSW housing and homelessness peak bodies know this, the community knows this, everyone knows this except the government and property developers.

"Rents in some parts of Sydney have almost doubled in the past decade. Wages clearly haven't.

"In the coming months the Greens will launch our campaign to reform protections for renters in NSW law. There is overwhelming support for this in the community and a desperate need for this to keep our cities diverse and affordable," she said.

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