More than one-third of West Australians feel living standards have gone backwards over past three years

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More than one-third of West Australians feel living standards have gone backwards over past three years

More than one-third of West Australians believe their living standards have gone backwards in the past three years, as the cost-of-living crisis and interest rate hikes continue to smash families hard.

In news that doesn’t bode well for Anthony Albanese as he tries to convince sandgropers to back him in for another term in government, a survey of WA households conducted by the Chamber of Commerce and Industry WA last month showed 36 per cent believed their living standards had gone backwards.

Asked if their living standards had improved, stayed the same, or gone backwards since 2021, 45 per cent of people surveyed said their living standards had stayed the same, while only 19 per cent said life had improved.

“High inflation, restrictive interest rates and skyrocketing housing costs have clearly dented confidence in WA households over the past few years,” CCIWA chief economist Aaron Morey said.

“Concerningly, we can see that households with lower incomes are more likely to report that their living standards have not improved.

“Almost nine in 10 households with incomes under $75,000 said their living standards had gone backwards or stayed the same.

“This is compared with just three in four (75 per cent) of people in higher income brackets.”

Camera IconCCIWA chief economist Aaron Morey. Credit: LUKAS COCH/AAPIMAGE

The CCIWA surveyed 920 people

Mr Albanese finds himself in The Lodge largely off the back of a big WA vote in 2022, which saw the federal ******** seats of Tangney, Pearce, Swan and Hasluck, fall to Labor.

Thirteen interest rate hikes since 2022 — and through-the-roof cost-of-living hikes — have smashed family budgets and dwindled any savings put away during the first two years of COVID-19 in 2020 and 2021.

The CCIWA survey shows consumer confidence ******** flat in WA, with just over half — 51 per cent of households expecting economic conditions to remain unchanged in the next three months.

Mr Albanese goes back to the polls some time between now and May next year and must hang on to the WA seats he won in 2022 if he is to hold office.

His WA counterpart, Labor Premier Roger Cook also goes to the polls next March after Labor’s euphoric victory in 2021, and just like Mr Albanese is likely to face unhappy voters who are battling to make ends meet. Many are also priced out of the housing and rental market.

data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==Camera Icon Labor Premier Roger Cook also goes to the polls next March after Labor’s euphoric victory in 2021. Credit: Justin Benson-Cooper/The Sunday Times

Both leaders have offered up cost-of-living sweeteners, combining this year to provide West Australians with a $700 power credit.

Mr Cook has also provided free zoo passes and discounted Perth Royal Show tickets as part of other cost-of-living measures.

Notre Dame University politics professor Martin Drum said the only cost-of-living measure that would truly resonate with voters was an interest rate cut, which the Reserve Bank of Australia says most probably won’t happen this year.

“I think people in WA are feeling lots of spending pain,” Professor Drum said. “No small measures can remedy that.

“Most of them (small measures) won’t be remembered at the next elections.

“The utility (power credits) measures are probably an exception.

“The one thing that will make people feel happier is if there is an interest rate cut. A cut would perhaps send a signal that the worst is behind us.”

WA ******** senator Dean Smith — a member of the Senate Committee on the Cost of Living — said data from the Reserve Bank of Australia this month clearly showed the plight of many WA families.

Anglicare WA boss Mark Glasson said he doubted many West Australians felt their lives had improved in recent years and called on the Cook Government to do more to help those struggling.

“I don’t think there will be many people in WA looking back over the past four years and thinking their lives have been changed for the better,” he said.

“More and more people across the State are struggling with the rising cost of living and lack of affordable housing. The demand on our services keeps rising, and an increasing proportion are people reaching out to organisations like ours for the first time.

“People with full-time employment, dual incomes and mortgages.”

Mr Glasson urged the Cook Government “to be bolder” in tackling the cost-of-living crisis.

“We want to see a move from rent relief and short-stay incentives to establishing a Housing Future Fund to guarantee 6 per cent social housing,” he said.

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