Green Party Proposes 650 Percent Surcharge on Landlords Implementing Rent Hikes

The Greens have introduced a new policy aimed at controlling rental prices in Brisbane. Landlords in the city could face a 650 percent surcharge on their council rates if they raise their tenants’ rent. This policy, set to be announced by the Greens, is part of their efforts to gain control of the Brisbane City Council in the 2024 election. Green MPs have been advocating for government-imposed rent freezes, arguing that they would alleviate Australia’s rental and cost-of-living crises. The country is currently facing a rental crisis, with vacancy rates at record lows and rental prices increasing. This is primarily seen in major capital cities, while smaller capital cities and regional areas are finding a balance between supply and demand. High rates of immigration have also contributed to the crisis, with population growth driving up rental prices. Economist Louis Christopher warns that increasing immigration without addressing housing affordability could worsen the rental crisis and lead to a rise in homelessness. To address supply shortfalls, the Albanese Government has launched the Housing Australia Future Fund (HAFF) to deliver 30,000 new rentals in its first five years. The government has also implemented a national target to build 1.2 million new homes and introduced various housing support programs. However, builders and property developers express concerns about meeting these targets due to challenges in their industries, such as high interest rates and material prices.



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