Housing takes the spotlight in the Federal Election – but what does it mean for WA

As seen in The West Real Estate

As Australia’s housing crisis dominates the federal election campaign, REIWA welcomes the national focus – but is urging both major parties to ensure WA is not left behind in the delivery of real, on the ground solutions. 

Housing affordability and supply constraints are being felt across the country, but the challenges in WA are unique and require localised responses within national frameworks. 

Western Australians are doing it tough in one of the tightest rental markets we’ve ever seen. While it is encouraging that housing is a key federal election issue, we need targeted policies that genuinely support WA’s buyers, renters and investors – not just Eastern States solutions. 

WA’s vacancy rate has remained below 1 per cent for much of the past year, putting extreme pressure on rental affordability and availability. While national targets, such as the current goal to build 1.2 million new homes – are commendable, the current Government is not on track to meet this target. Real delivery of these promises requires serious reform to planning systems, land release and construction workforce capacity, particularly in WA. 

Boosting housing supply is the only long-term solution and that takes more than election promises. We need federal funding and policy levers to be used wisely to unlock land, accelerate approvals and support the skilled trades that build homes. 

REIWA supports many of the initiatives proposed by both major parties including measures to support first home buyers, however, it is imperative that policies that boost demand are balanced with tackling the supply issues. 

Expanding initiatives like the Home Guarantee Scheme may help buyers enter the market sooner, but unless supply is addressed, the risk is prices will be driven up – especially in a market as tight as Perth’s. 

Importantly, both Labor and the Coalition have committed to maintaining current negative gearing and capital gains settings – policies that REIWA strongly supports to maintain investor confidence and rental supply. In contrast, the Greens’ continued push to abolish negative gearing is out of step with WA’s fragile rental environment. 

Results from a recent survey conducted on reiwa.com made this clear: 83 per cent of investors indicated that changes to property tax would influence their decision to sell their investment property. This is not the time to undermine the private rental market. Stable, practical policy is required from our leaders.  

Political attention and focus on housing are welcome, but accountability and results matter most. Whoever forms government after this election must ensure that housing policy delivers for all Australians – including WA.

Suzanne Brown
REIWA President