21 May 2025
The Greens are calling for the Malinauskas Government to back a rent freeze in State Parliament following yesterday’s announcement from the RBA that it will cut interest rates to below 4 per cent for the first time in almost two years.
“With homeowners receiving welcome relief from interest rates in its only reasonable that renters are given a reprieve from skyrocketing rent prices too,” said Greens MLC Robert Simms.
“I have a bill before Parliament that would freeze rents for two years and cap increases in line with inflation – a simple step toward restoring fairness in the housing market.”
“Since I introduced the bill last March, rents have continued to soar. If it had been in place, renters could have saved thousands. In Unley, the median renter would be paying $74 less per week – that’s nearly $3,850 a year. In Norwood, they’d save $60 a week or over $3,100 a year, and in Adelaide, the savings would be more than $1,200 annually. That’s money that could be going toward groceries, bills, or savings.”
“With interest rates easing, now is the time to deliver real relief for tenants with a rent freeze. With the support of the Government, we could make this law — I urge them to work with the Greens to make it happen,” Mr Simms concluded.