Vaucluse landlord lifts rent on Penrith 2-bedder by 3.5%, in line with today’s minimum wage increase

TRICKLE UP ECONOMICS: A local property investor has praised today’s 3.5% minimum wage hike, celebrating it with a 3.5% rent increase on a damp two-bedroom unit in Penrith he hasn’t visited since 2007.

“It’s only fair,” says Hugo Embley-Wright.

“I support an increase to the minimum wage, but it also needs to be reflected in rental prices.”

“I’m just keeping up with the market.”

About 180,000 people will see their hourly rate increase from $24.10 to $24.95 from July 1 after today’s ruling by the industrial umpire.

Penrith tenant Alana Brooks, who works two jobs and currently sleeps in the laundry so her son can have the bigger room, says she was “thrilled” to learn of the increase.

“I was wondering what I’d do with that extra $85c an hour,” she said.