The Victorian Greens are calling on the government to urgently intervene after the Cotality report shows that housing is more unaffordable than ever.
The report found it will take 11.7 years to save for a house in Melbourne. While median households are spending over 30% on rent which puts them into housing stress.
It comes just a day after the Rental Affordability Index reported regional Victoria has become even less affordable over the past year, while Melbourne remains at record-low levels of affordability.
The Victorian Greens warn without urgent intervention to control how much rents can go up, this will only get worse.
As stated by Victorian Greens Renting and Housing spokesperson, Gabrielle de Vietri:
"The Allan Labor Government has their head in the sand as renters and aspiring first home buyers suffer.
"Yesterday's Rental Affordability index proves that rent controls work, ACT is the only place with rent controls in the country, and it's the only place with rent controls. If the Allan Labor Government were serious about supporting renters, they should be taking notes.
"How can renters even start to put together a savings plan when they are being smashed by rents across the state with no reprieve in sight - it's time the Allan Labor Government comes to the table when it comes to rent controls."
