Senator Paul Scarr has spoken in the Senate about the dramatic increase in rents across the Somerset region since the Albanese Labor Government took office.
“There has been much discussion about inflation and cost-of-living pressures in the Senate this week. Since the Albanese Labor Government came to power in 2022, we’ve seen inflation soar.
“We’ve watched home-grown inflation spiral out of control, and the impact on renters has been devastating. I wanted to see exactly how this is affecting our community, and the research I commissioned from the Parliamentary Library reveals shocking numbers,” said Senator Scarr.
In his Senate speech, Senator Scarr emphasized that these increases, driven by the Albanese Government’s policies—higher interest rates and higher taxes—are hitting Somerset residents hard.
“In the Somerset local government authority region, which is also in the federal seat of Blair and which I am duty senator for, the cost of the rent for a three-bedroom house has gone up by $3,640 a year. This is after-tax income.
“The cost of a four-bedroom house has gone up by $6,760 a year in rent. These are absolutely astronomical figures and are deeply concerning,” said Senator Scarr during his speech.
Since the last election, research shows that rents in the Somerset region have surged dramatically. The median rent for a three-bedroom house has increased from $400 in June 2022 to $470 in June 2024, an 8.4% rise or $3,640 a year.
For a four-bedroom house, rent has gone up from $420 to $550, this is an extra $130 per week, or $6,760 a year. “This is an astronomical burden for hard-working families,” said Senator Paul Scarr.
“The affordability crisis is affecting every corner of the Somerset region. It’s not just about numbers—these hikes represent families struggling to keep a roof over their heads, individuals being pushed to the limit, and young people finding it harder than ever to enter the rental market.”
“Housing affordability is one of the most pressing issues facing our community, yet under the Albanese Government, renters are paying more than ever. This situation demands urgent action, and the people of Somerset deserve better.”
