WA has a worsening affordable housing crisis. Over 194,000 people need affordable housing. Less than 1% of homes in the Perth Metro area are vacant – even fewer are vacant in some regional communities.
Why WA needs Home Hub
An increasing number of people are unable to access the private rental market because there is limited supply, causing prices to increase beyond what they can afford. Some of these people do not fit the criteria for social housing and stay at risk of homelessness or experience homelessness. Affordable rental housing fills this gap, and Home Hub is an affordable housing marketplace.
What contributes to the current WA affordable housing crisis?
There are so many contributing factors for the affordable housing crisis which is the reason it feels so complex and affects so many people. The following conditions are just some of the many contributing factors to the context of the Affordable Housing Crisis in WA.
- Climate Change and the increasing numbers and worsening intensity of state emergencies such as international pandemics, bushfires, cyclones and floods impact our economy, and devastates people’s lives and communities.
- International pandemics meant that more people are returning to WA to live, increasing the demand for housing.
- The State and Federal government supports are helpful but they’re not enough. The government can only do so much, and there is a need for community action that compliments the government’s efforts.
- There is an increased number of people applying for rentals.
- There is a decreased number of private rental investors who don’t know about all the opportunities to use their homes for reduced risk and increased regard. While there were unfavourable conditions for property investment, which contributes to even less rental supply, there are great opportunities for investors to consider affordable housing as a long-term and low-yield investment.
- There is an inadequate supply of social housing – there were 16,000+ applications on the waitlist in 2022.
- There is inadequate federal support – there isn’t a range of affordable housing programs and services that support Western Australians who need affordable housing.