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Public transport key to averting rising mortgage defaults in outer metro area

The Australian Greens have successfully moved a motion for a Senate Inquiry into Public Transport today, and are proposing substantial Commonwealth funding for public transport including allocations under the Building Australia Fund, which is being debated in Parliament today.

Senator Scott Ludlam said creating a fast, efficient light rail network in Perth’s areas of high mortgage default will help rescue land values and improve services.

“One way to maintain land values in outer metropolitan areas is with world-class public transport such as light rail, that can help localise jobs and services, improve service delivery, and indirectly reduce the rate of mortgage default in Western Australia,” said Senator Ludlam.

“Last week’s Fitch Ratings report showed that WA has the second highest rate of mortgage defaults, in our outer metropolitan suburbs such as High Wycombe, Anketell, and West Swan.”

“Light rail is not just about creating public transport, but helping the delivery and localisation of services to outer suburban communities, increasing employment, and maintaining land values. This kind of fore-planning is what is needed to help stop mortgage default, and homelessness, particularly in uncertain economic times,” said Senator Ludlam.

“Western Australians are confronted with a more challenges than ever; the threat of recession, the possibility of unemployment, and the eventual impacts of peak oil, and rising energy prices.”

According to the 2006 Census WA has experienced a clear rise in homelessness without an increase in essential services, public housing, and affordable rental strategies.

“Despite the past years of wealth and prosperity in Western Australia we have not invested enough money to ensure that people are not left behind. It’s essential that governments at state and federal level take action now by funding preventative measures such as public transport, and service access, to ensure that mortgage defaults and the homelessness rate begins to fall,” he concluded.

For more information or media enquiries please call Marie Bout on 0415 507 763.   

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