With the median house price in Perth about to hit the $900,000 mark, is the great Australian dream of owning your own home dead and buried?

Perth Today host Simon Beaumont spoke to Edward Brine, Manager of Property Management WA, The Agency, about the landscape of renting.

With fewer people able to afford to buy, Simon asked whether long-term leases are becoming more common. Edward pointed out that laws discourage landlords from committing to long-term leases.

“The owner does not have the ability to break a fixed-term agreement, whereas the tenant can break their lease,” he said.

Click PLAY to hear from the expert.

Image: iStock