Sydney renters could have saved $7500 under proposed NSW rent cap legislation

A Sydney MP claims renters could have saved almost $7,500 if there were rent caps from 2023. Picture: Max Mason-Hubers A NSW minister claims Sydney renters could have saved almost $7,500 if rent caps had been introduced in 2023 and has tabled a new bill calling for a cap and temporary freeze. Polling from The Australia Institute last week revealed that four in five Aussies across the political spectrum support rent freezes or caps. It follows the latest quarterly data showing the median Sydney rental is $800 a week and costs renters $2,600 more this year compared to last. MORE: 4 in 5 Aussies now back extreme home rule Greens MP Jenny Leong is introducing a Rent Control Bill to NSW parliament. Picture: Brendan Read Newton Member Jenny Leong will introduce the proposed legislation on Thursday and aims to curb the rental crisis using the key measures of rent caps and a temporary price freeze. “The stress on renters is unbearable and without urgent action this will only get worse,” Ms Leong said as the Greens’ Housing and Homelessness spokesperson. “It is totally unacceptable that millions of renters are subjected to the stress of unlimited rent increases while the Government fails to...