Petition request
That the House of Representatives regulate residential rent via a formula where (RV/1000) - x% = weekly rent maximum; the variable 'x' to be calculated based on median property value (RV) equating to a rent maximum of 30% of median household income in the district; and applied as a constant to all rental properties districtwide.
Petition reason
I believe the formula-based approach would align median income with residential rent prices - so that renting a median-valued property in a given area is affordable based on rent prices being no more than 30% of median household income in that area. The variable would then be applied as a constant to all properties rented in the area to ensure fairness of the residential rental market across all income brackets and property types. I believe accommodation supplements could then be abolished.
Related
Petition progress
- Open for signatures
- Closed for signatures
- Select Committee
- Reported
- Referred to Minister
| Number of signatures: | 37 |
|---|---|
| Date presented: | 06 Dec 2022 |
| Considered by: | Petitions |
| SC Report(s): | 07 Sep 2023 (Final) |
| Presenting member: | Hon Ginny Andersen |
| Closing date: | 22 Sep 2022 |