The Reserve Bank’s latest decision to lift the cash rate by another 0.25 percentage points will heap further financial pressure on Australian families already struggling under the weight of rising mortgage repayments, persistent inflation and higher living costs.
SENATOR DEAN SMITH SHADOW ASSISTANT MINISTER TO THE SHADOW TREASURER SHADOW ASSISTANT MINISTER FOR THE COST OF LIVING LIBERAL SENATOR FOR WESTERN AUSTRALIA 8 May 2026 SURVEY SHOWS PERTH COSTS RISING FASTER THAN WAGES Perth families are being hit hardest by Australia’s cost-of-living crisis, with consumer prices rising 27 per cent over the past five years—the highest increase of any capital city. This analysis of CPI figures from the Australian Bureau of Statistics (ABS) was undertaken by the Federal Parliamentary Library for Senator Dean Smith. It provides a unique insight into price increases in Perth between the March 2021 and March 2026 quarters—most of which have occurred under Labor. The findings highlight the growing financial pressure on Western Australian families, with adult weekly earnings rising by just 18.5 per cent over the same period—well below the increase in household costs. Basic groceries have become significantly more expensive since 2021, with prices for eggs up 38.4 per cent, coffee, tea and cocoa up 39.4 per cent, bread up 31.2 per cent, breakfast cereals up 32.2 per cent, milk up 28.3 per cent, vegetables up 27.3 per cent, and beef and veal up 25 per cent. Perth recorded the fastest increase of any capital city for several key items, including milk, lamb and goat, food additives and condiments, cleaning and maintenance products, holiday travel and accommodation, and new dwelling purchases by owner-occupiers. The cost of dairy products rose by 27.6 per cent, while families with pets were also hit, with pet products increased by 23.7 per cent—adding further pressure to household budgets. Education costs have also climbed sharply, with secondary education up 28 per cent and tertiary education rising 29.5 per cent over the past five years. On top of these increases, Western Australians are facing an acute housing crisis, with the cost of building a new home in Perth surging by 71.9 per cent—the fastest increase of any capital city. Recent ABS data underscores the scale of the problem nationally, with the CPI rising by 4.6 per cent in the 12 months to March 2026—the highest annual inflation rate since September 2023. Housing—the largest component of the CPI—rose by 6.5 per cent over the year, while transport costs surged by 8.9 per cent, driven by sharp increases in fuel prices. In March alone, fuel prices surged by 32.8 per cent – the largest monthly increase on record – lifting petrol from 171 to 228 cents per litre and diesel by 41 per cent, while electricity costs rose 25.4 per cent over the year as rebates were withdrawn. Quotes attributable to Senator Dean Smith: “Western Australian Families are being hit hardest where it hurt the most – at the checkout, at the bowser, and in their mortgage repayments.” “Prices in Perth are up 27 per cent over five years while real wages have gone backwards, meaning families are working harder but falling behind.” “This data confirms what households already know – Labor has lost control of inflation, and Western Australians are paying the price.” “Inflation is not just a number on a page; it is the difference between putting food on the table or going without.” “This cost-of-living crisis didn’t happen by accident – it is the result of Labor’s spending problem and its failure to keep the economy under control.” ‘Out- of- control government spending has fuelled inflation, and Western Australian families are now paying the price.” “Until there is discipline in government spending and a serious plan to bring inflation down, the pressure on WA families will only get worse.” Parliamentary Library research on ABS CPI index by capital city March 2021 to March 2025 Capital City % Change March 2021-March 2026 March 2021 March 2026 Perth 27.0 79.86 101.81 Brisbane 25.9 80.56 101.42 Adelaide 25.4 81.14 101.79 Sydney 23.7 82.33 101.81 Hobart 23.3 82.61 101.86 Melbourne 22.9 82.85 101.79 Canberra 22.6 82.99 101.71 Darwin 21.9 83.07 101.27 Australia 24.2 81.87 101.70 Parliamentary Library research on ABS CPI data March 2021 to March 2026 – revealing where Perth recorded the fastest increase of any capital city and the national average in these expenditure items. ITEM Perth Increase Next Highest Capital Australia Increase New Dwelling purchase by owner- occupants 71.9 Hobart 59.5 42.4 Holiday travel and accommodation 26.1 Melbourne 25.9 23.7 Milk 28.3 Adelaide 28.1 28.2 Lamb and Goat 21.1 Adelaide 20.0 17.8 Food additives and condiments 21.6 Adelaide 21.1 21.0 Cleaning and maintenance products 23.2 Sydney 23.0 18.8 Parliamentary Library research on ABS CPI index data March 2021 to March 2026 recording Perth increases against national average by expenditure items. ITEM Perth Increase Australia Increase Bread 31.2 30.1 Breakfast cereals 32.2 30.2 Beef and veal 25.0 23.8 Pork 16.5 16.3 Fish and other seafood 19.4 18.9 Dairy and related products 27.6 27.4 Cheese 25.9 25.7 Ice cream and other dairy products 28.6 28.0 Vegetables 27.3 22.1 Eggs 38.4 43.0 Jams, honey and spreads 20.4 18.6 Food additives and condiments 21.6 21.0 Snacks and confectionary 33.0 32.5 Coffee, tea and cocoa 39.4 36.7 New dwelling purchase by owner-occupiers 71.9 41.8 Cleaning and maintenance products 23.2 18.8 Personal care products 15.6 14.7 Pets and related products 23.7 23.5 Secondary education 28.0 29.5 Tertiary education 29.5 31.6 ABS Average Weekly Earnings, Western Australia Nov 2020-Nov 2025 Year Earnings, Adult, Full time WA November 2020 1847.00 May 2021 1875.00 November 2021 1899.10 May 2022 1937.70 November 2022 1987.60 May 2023 2043.80 November 2023 2095.30 May 2024 2107.50 November 2024 2145.80 May 2025 2162.20 November 2025 2189.20
SENATOR DEAN SMITH SHADOW ASSISTANT MINISTER TO THE SHADOW TREASURER SHADOW ASSISTANT MINISTER FOR THE COST OF LIVING LIBERAL SENATOR FOR WESTERN AUSTRALIA MEDIA RELEASE 8 May 2026 RBA RATE HIKE PILES PRESSURE ON LABOR’S MORTGAGE BELT The Reserve Bank’s latest decision to lift the cash rate by another 0.25 percentage points will heap further financial pressure on Australian families already struggling under the weight of rising mortgage repayments, persistent inflation and higher living costs. With inflation remaining stubbornly high, concerns continue to grow that excessive government spending is making the Reserve Bank’s task harder and keeping interest rates higher for longer. New analysis commissioned by Senator Dean Smith from the Federal Parliamentary Library reveals that the communities most exposed to rising interest rates are overwhelmingly concentrated in Labor-held electorates across Australia’s outer suburban mortgage belt. Using the latest available ABS Census data*, the analysis identifies the 20 suburbs with the highest proportion of households paying off a mortgage. Strathnairn in the ACT recorded the highest concentration, with 85.4 per cent of households servicing a mortgage. It was followed by Denman Prospect in the ACT (78.2 per cent); Brabham-Henley Brook in Perth’s north-east (75.5 per cent); Clyde North-South in Melbourne’s outer south-east (73.8 per cent); Piara Waters-Forrestdale in Perth’s south-east (72.7 per cent); Googong in NSW (71.6 per cent); Flagstone West-New Beith south of Brisbane (70.8 per cent); Eynesbury-Exford on Melbourne’s fringe (70.2 per cent); and the ACT suburbs of Taylor (70.0 per cent), Throsby (69.4 per cent) and Moncrieff (68.8 per cent). The list also includes Marsden Park-Shanes Park in western Sydney and Fraser Rise-Plumpton in Melbourne (both 68.6 per cent); Byford in Perth’s south-east (68.4 per cent); Landsdale in Perth’s north-west (68.1 per cent); Mickleham-Yuroke north of Melbourne (67.7 per cent); Harrisdale in Perth’s south-east (67.2 per cent); Box Hill-Nelson in Sydney’s north-west (67.1 per cent); Aveley in Perth’s north-east (67.0 per cent); and Carramar in Perth’s north-west (66.0 per cent). With the exception of Flagstone West-New Beith and part of Clyde North-South, every suburb identified in the analysis sits within a federal Labor-held electorate. That includes four suburbs in the ACT seat of Fenner, three in Burt in Western Australia, two in Hasluck, and one suburb each in Bean, Holt, Eden-Monaro, Hawke, Chifley, Gorton, Cowan, Calwell, Greenway and Pearce. The Parliamentary Library analysis also examined changes in mortgage repayments between August 2021 and April 2026 — a period covering almost the entirety of the Albanese Government’s term in office. In Strathnairn, median monthly mortgage repayments increased by more than $1,000 over that period, rising from $2,191 in August 2021 to $3,253 by April 2026. Following the Reserve Bank’s latest rate rise, median repayments in Strathnairn are now estimated to have climbed to $3,289 per month — intensifying pressure on households already grappling with rising grocery prices, insurance premiums, electricity bills and fuel costs. The modelling also examined the impact of three additional 25 basis point increases. Under that scenario, median repayments in Strathnairn would rise to $3,383 per month by January 2027 — up $1,192 compared with August 2021. Because the Census benchmark dates back to August 2021, the number of households now exposed to higher repayments is likely substantially larger, reflecting strong population growth and extensive new housing construction in outer metropolitan growth corridors. At the same time, Australians are taking on larger mortgages than ever before, with ABS Lending Indicators showing the average home loan increased by $42,000 in the December quarter alone to reach $736,000. Comments attributable to Senator Dean Smith: “The Reserve Bank’s latest rate rise is another blow for Australian families already under enormous financial pressure.” “Labor’s spending problem is making it harder to get inflation under control and keeping interest rates higher for longer.” “This analysis shows the suburbs carrying the heaviest mortgage burden are overwhelmingly located in Labor-held seats across Australia’s outer suburban growth corridors.” “In suburbs like Strathnairn, mortgage repayments have now surged to an estimated $3,289 a month following the latest rate rise.” “Many families are now paying hundreds — and in some cases more than a thousand — dollars extra every month on their mortgage compared with just a few years ago.” “The Reserve Bank has repeatedly warned that inflation remains persistent and that excessive government spending is adding pressure to the economy.” “Unless the Albanese Government restores fiscal discipline and gets spending under control, Australian households face the real prospect of even higher repayments in the months ahead” ENDS
SENATOR DEAN SMITH SHADOW ASSISTANT MINISTER TO THE SHADOW TREASURER SHADOW ASSISTANT MINISTER FOR THE COST OF LIVING LIBERAL SENATOR FOR WESTERN AUSTRALIA 24 April 2026 PERTH YOUTH UNEMPLOYMENT RISING AS COST-OF-LIVING CRISIS RAGES New analysis of data from the Australian Bureau of Statistics has revealed a rise in youth unemployment across Western Australia, with young people in Perth increasingly struggling to find work as a result of the Albanese Government’s economic mismanagement. The analysis was commissioned by Opposition cost of living spokesman Senator Dean Smith from the Parliamentary Library. The latest ABS Labour Force data confirms Western Australia’s youth unemployment rate has climbed from 8.4 per cent in February 2025 to 9.6 per cent in February 2026 – a significantly sharper increase than the national rise over the same period. In real terms, it means around 4,200 more young Western Australians are now unemployed compared to a year ago. In Greater Perth, youth unemployment has jumped from the low levels seen in 2023 – around 8.2 per cent – to 9.4 per cent in early 2026, although it has decreased slightly since peaking above 10 per cent during 2024. At the same time, more young people are entering the workforce, but fewer are finding jobs. The number of unemployed young people in Greater Perth has increased by approximately 2,400 over the past year on an annual average basis, even as participation has grown. This points to a labour market that is becoming increasingly difficult for young people to enter, particularly in sectors most exposed to household spending pressures. Across the economy, businesses are facing rising input costs, higher energy bills, increased borrowing costs, and declining consumer confidence. All of this is flowing through to hiring decisions. Entry-level and part-time roles, critical to young people trying to get a start, are often the first to be cut or scaled back when conditions tighten. The data shows that while youth unemployment nationally has edged higher, Western Australia has experienced one of the most pronounced deteriorations. This comes at a time when Western Australian households are already facing significant cost pressures, with rising rents, higher grocery bills, and elevated fuel prices putting additional strain on budgets. The result is a compounding effect: fewer job opportunities for young people, alongside increasing financial pressure at home. Comments attributable to Senator Dean Smith “The message from this data is clear: young Western Australians are going backwards under Anthony Albanese and Labor.” “After improving through 2023, youth unemployment in Perth has risen again – meaning thousands more young people are now out of work.” “In just one year, we’ve seen around 4,200 more young Western Australians unemployed.” “It is made all the worse by the fact that, in Perth, more young people are looking for work but more are also being locked out of the workforce.” “This needs to be a wake up call for the Albanese Government – Western Australia should be leading the nation, not experiencing one of the sharpest rises in youth unemployment anywhere in the country.”
New analysis commissioned by Senator Dean Smith from the Parliamentary Library based on data from the Australian Bureau of Statistics has revealed a worrying rise in youth unemployment across Western Australia, with young people in Perth increasingly struggling to find work as cost-of-living pressures intensify under Labor.
Australians are being pushed to the brink under Labor, with new data from OzHarvest revealing the nation’s cost-of-living crisis has deteriorated into a full-blown “cost-of-surviving” crisis.
New ABS Lending Indicators data for the December quarter 2025 has exposed the growing cost of Labor’s housing failure, with average home loan sizes recording their largest increase in more than a decade. Instead of delivering affordable homes, the Albanese Labor Government has delivered record debt. The ABS figures show that while the number of first home buyer loans increased across most jurisdictions — led by New South Wales (+10.9 per cent) and Western Australia (+9.8 per cent) — the value of those loans is rising far faster, with the average loan in WA increasing by $55,000 in the December quarter to $688,000, reflecting the relentless surge in house prices. In Western Australia alone, the value of finance for new home buyers jumped from $1,864.8 million to $2,211.1 million in the December quarter — a staggering increase in just three months. WA also recorded the largest annual increase in average loan size for owner-occupiers, up 16 per cent to June 2025 — the highest in the nation. At the same time, property investment lending in WA has surged more than 400 per cent over the past five years, fuelled by soaring rents and escalating property prices. Investment lending rose another 9.1 per cent in the September quarter 2025 alone. Mean dwelling prices in WA climbed 4.5 per cent ($40,800) in the September quarter, among the strongest increases in the country. These figures confirm a simple truth: under Labor, Australians are not buying more affordable homes — they are taking on bigger mortgages to chase fewer properties. While first home buyers may be entering the market in slightly higher numbers, they are doing so with unprecedented levels of debt. This is the direct consequence of a Federal Government that has failed to match population growth with housing supply, failed to meet its National Housing Accord targets, and failed to control the inflationary pressures that are driving up construction and land costs. Labor will point to rising loan approvals as a sign of confidence. In reality, it is a sign of desperation — young Australians stretching further than ever before just to secure a foothold in an overheated market. When average loan sizes rise at the fastest pace in more than a decade, it does not signal affordability – it signals a housing system under strain. COMMENTS ATTRIBUTABLE TO SENATOR DEAN SMITH: “Labor’s housing policy is forcing Australians to take on record levels of debt just to buy a home.” “The largest increase in average loan sizes in more than a decade is not a success story — it is proof housing affordability is going backwards.” “In Western Australia, the value of new home buyer lending has jumped by more than $346 million in a single quarter. That is not opportunity — that is escalating risk.” “WA has seen the largest annual increase in average loan sizes in the nation and a 408 per cent surge in investor lending over five years. That tells you everything about who this market is working for — and it is not first home buyers.” “Unless Labor fixes supply, reins in inflation and restores confidence in the construction sector, young Australians will keep paying more and borrowing more for less.”
SENATOR DEAN SMITH SHADOW ASSISTANT MINISTER TO THE SHADOW TREASURER SHADOW ASSISTANT MINISTER FOR THE COST OF LIVING LIBERAL SENATOR FOR WESTERN AUSTRALIA 2 April 2026 RECORD MOTOR VEHICLE GROWTH LEAVES WESTERN AUSTRALIANS MORE EXPOSED TO FUEL SHORTAGES THIS EASTER A surging population means Western Australia has experienced the fastest acceleration in the number of motor vehicles in the nation, positioning it to be uniquely affected by the Albanese Government’s fuel crisis. Figures from the Bureau of Infrastructure & Transport Research Economics (BITRE) reveal that in the period from 2023 to 2025, the number of motor vehicles in Western Australia jumped by over 180,000 – or 7.5 per cent – to 2.62 million registered vehicles. This was the largest growth rate of any jurisdiction in Australia and well above the national growth of 5.6 per cent in the same period It follows other recent analysis by the Office of Senator Dean Smith of the latest available Census information* that found WA had the largest number of households with two cars in Australia. In fact, the West was second only to Tasmania in having the most households with three or more cars. The data confirms 39.1 per cent of Western Australia households, or 376,783 homes, had two cars – higher than any other state. The national average was 36.3 per cent and the average in other states ranged from 34.1 per cent (New South Wales) to 37.5 per cent (Queensland). The WA figure was up slightly on the 38.9 per cent recorded in the previous Census. Significantly, the West also had a near record number of households with three or more vehicles, at 20.7 per cent, or just under 200,000 homes. Tasmania was the only state with a higher rate at 22.3 per cent – and both were well above the national average of 18 per cent. Skyrocketing fuel prices and supply shortages now characterise life for motorists and businesses under Labor, with a failure of forward planning and mixed messaging from an Energy Minister who has clearly been asleep at the wheel. There are two further aggravating factors to consider in the WA context, where the turbulent fuel situation has been laid bare in recent days. Firstly, there has been massive population growth since this Census data was recorded, meaning a much higher number of motorists in the West will now be affected at the bowser. Secondly, it is a simple fact that Perth drivers generally have farther to travel. Perth is now reportedly the “longest” city in the world, featuring a 150km urban sprawl stretching from Two Rocks to Dawesville. All this combines to leave WA motorists uniquely exposed to the Albanese Government’s worsening fuel price pain and supply uncertainty – an unacceptable situation now the Easter break is upon us. Comments attributable to Senator Dean Smith: “Each data study we see confirms it: WA is uniquely impacted by the fuel security failures of the Anthony Albanese Labor Government,” “WA, and even Perth itself, is a place where many people need a vehicle to shop, to go to work, to care for a relative or do the school run, and on the Albanese Government’s watch they are paying dearly for it.” “While the recent cut to the fuel excise, which the Coalition forced Labor to adopt, is welcome, Western Australians still need and deserve a plan for fuel supply from their Government – and they are not getting it.” “I am particularly concerned about communities and businesses in regional WA, with longer distances to travel and even greater price and supply impacts.” “Worst of all, this comes on top of existing cost of living pressures, with inflation and interest rates up and predicted to stay there, leaving Western Australians poorly placed to absorb fuel price spikes and making for an anxious Easter for many.” *Census, August 2021
SENATOR DEAN SMITH SHADOW ASSISTANT MINISTER TO THE SHADOW TREASURER SHADOW ASSISTANT MINISTER FOR THE COST OF LIVING LIBERAL SENATOR FOR WESTERN AUSTRALIA 1 April 2026 WA COST-OF-LIVING CRISIS DEEPENS AS HOUSEHOLDS AND BUSINESSES HIT BREAKING POINT Western Australians were already under pressure before the Middle East conflict with new data showing the crisis is now accelerating. The latest CCIWA Consumer Confidence Survey reveals confidence has fallen to its lowest level since March 2023, with cost-of-living pressures driving growing economic anxiety. The survey of 836 households found that 72 per cent identified living costs as their biggest concern, while 28 per cent expect economic conditions to worsen. More than half—54 per cent—are already planning to cut discretionary spending, including on dining, retail and entertainment. At the same time, a CCIWA snap survey of more than 430 WA businesses highlights the scale of the fuel-driven shock to the economy. The survey found 82 per cent of businesses are experiencing higher supplier costs, with 45 per cent directly impacted by fuel shortages. Nearly one in three—31 per cent—describe the impact as significant or severe, while just 7 per cent report no impact. Businesses are being squeezed from both sides, with 56 per cent absorbing higher costs and 44 per cent passing those costs on to consumers. This confirms a clear reality: the cost-of-living crisis in Western Australia was already entrenched—and is now worsening. Households are facing rising mortgages, rents and fuel prices, while businesses deal with higher costs and supply disruptions. The result is a compounding cycle where higher business costs drive higher consumer prices. The economic consequences are already emerging with nearly half of businesses cutting non-essential spending, while one in four are reviewing staffing levels, raising concerns about jobs and economic resilience. With households tightening budgets, sectors like retail, hospitality and tourism—particularly in regional WA—are expected to feel the impact first. Quotes attributable to Senator Dean Smith “Western Australians were already under pressure before this latest shock – this data makes clear the Albanese Labor Government has failed to get on top of its cost-of-living crisis.” “More than 70 per cent of households say living costs are their biggest concern, while over 80 per cent of businesses are facing higher costs – yet Labor continues to deny it has a spending problem that is driving inflation and making it harder to run a business in WA. “This is what happens when you have a high spending government fuelling inflation – business costs go up, families cut back, and yet Labor remains out of touch with what is happening on the ground.” Western Australians deserve a government focused on easing COST-OF-LIVING pressures, not making them worse – because right now, families and businesses are being left behind.”
SENATOR DEAN SMITH SHADOW ASSISTANT MINISTER TO THE SHADOW TREASURER SHADOW ASSISTANT MINISTER FOR THE COST OF LIVING LIBERAL SENATOR FOR WESTERN AUSTRALIA 1 April 2026 WA COST-OF-LIVING CRISIS DEEPENS AS HOUSEHOLDS AND BUSINESSES HIT BREAKING POINT Western Australians were already under pressure before the Middle East conflict with new data showing the crisis is now accelerating. The latest CCIWA Consumer Confidence Survey reveals confidence has fallen to its lowest level since March 2023, with cost-of-living pressures driving growing economic anxiety. The survey of 836 households found that 72 per cent identified living costs as their biggest concern, while 28 per cent expect economic conditions to worsen. More than half—54 per cent—are already planning to cut discretionary spending, including on dining, retail and entertainment. At the same time, a CCIWA snap survey of more than 430 WA businesses highlights the scale of the fuel-driven shock to the economy. The survey found 82 per cent of businesses are experiencing higher supplier costs, with 45 per cent directly impacted by fuel shortages. Nearly one in three—31 per cent—describe the impact as significant or severe, while just 7 per cent report no impact. Businesses are being squeezed from both sides, with 56 per cent absorbing higher costs and 44 per cent passing those costs on to consumers. This confirms a clear reality: the cost-of-living crisis in Western Australia was already entrenched—and is now worsening. Households are facing rising mortgages, rents and fuel prices, while businesses deal with higher costs and supply disruptions. The result is a compounding cycle where higher business costs drive higher consumer prices. The economic consequences are already emerging with nearly half of businesses cutting non-essential spending, while one in four are reviewing staffing levels, raising concerns about jobs and economic resilience. With households tightening budgets, sectors like retail, hospitality and tourism—particularly in regional WA—are expected to feel the impact first. Quotes attributable to Senator Dean Smith “Western Australians were already under pressure before this latest shock – this data makes clear the Albanese Labor Government has failed to get on top of its cost-of-living crisis.” “More than 70 per cent of households say living costs are their biggest concern, while over 80 per cent of businesses are facing higher costs – yet Labor continues to deny it has a spending problem that is driving inflation and making it harder to run a business in WA. “This is what happens when you have a high spending government fuelling inflation – business costs go up, families cut back, and yet Labor remains out of touch with what is happening on the ground.” Western Australians deserve a government focused on easing COST-OF-LIVING pressures, not making them worse – because right now, families and businesses are being left behind.” ENDS
