WA Government Launches Inquiry into Land Rent Schemes Amid Housing Crisis
The West Australian Government has officially announced an inquiry into Land Rent Schemes. These innovative schemes permit individuals to own a dwelling without owning the underlying land.
Karl Fitzgerald, Managing Director of Grounded Community Land Trust Advocacy, has been invited by the State Government to provide a submission to the inquiry. Fitzgerald has stated that land rent schemes represent a significant option for addressing the current housing crisis.
Land rent schemes offer a potential pathway to more secure accommodation and help individuals enter the housing market.
Fitzgerald noted that rising property prices in Western Australia have prevented individuals with prior savings from entering the home ownership market. This challenge, he added, has contributed significantly to pressure on the rental market. He further suggested that this approach could help provide more secure accommodation options for residents.