The rental affordability index from charity National Shelter and SGS Economics:
NATIONAL:
* The most unaffordable place anywhere in the nation is regional Queensland when comparing average rental household income to median rent prices. Renters in regional areas of the Sunshine State must now pay 30 per cent of their income on rent, meeting the threshold for rental stress
* Sydney and Hobart are the most unaffordable capital cities while only Melbourne and the ACT have acceptable rents for average income households
* Affordability declined in all regional areas except Tasmania
* A single person on Jobseekers must spend 75 per cent of their income on a one bedroom rental in capital city areas and 53 per cent in the cheapest regional area
* A single pensioner must spend 50 per cent of their income in rent in all capital cities except for Hobart and Adelaide. They must spend at least 32 per cent of their income on regional rentals
* The 10 most unaffordable postcodes are 2627 Jindabyne (regional NSW), 2092 Seaforth (Sydney), 6015 City Beach (Perth), 4562 Eumundi (regional Queensland), 2063 Northbridge (Sydney), 2481 Byron Bay (regional NSW), 2085 Belrose (Sydney), 2086 Frenchs Forest (Sydney), 2102 Warriewood (Sydney) and 2107 Avalon/Bilgo (Sydney)
NSW:
* Sydney – Six of the most unaffordable postcodes in the nation are located in the harbour city and all inner areas are deemed unaffordable or extremely unfordable. The average rental household must live 15-20 kms from city to find acceptable homes
* Regional NSW – On the edge of being deemed unaffordable. Pressures felt the most along the coastline and regional centres like Bathurst, Maitland and Wagga Wagga
VICTORIA:
* Melbourne – Most affordable capital city for renters but still approaching moderately unaffordable levels. Affordable rentals are now located 15 kms from the CBD
* Regional – The Surf Coast is the most expensive area. The only regional areas in Victoria deemed affordable are Kerang, Nhil and Numurka
QUEENSLAND:
* Brisbane – No affordable areas located in greater Brisbane. Areas on the outskirts of the city including Woodford, Rosewood, Sandstone Point and Caboolture experienced a 20 per cent drop in affordability
* Regional – Regional Queensland is the nation’s most unaffordable place to rent, comparing rents to incomes. Median rental prices in regional areas are the same as Brisbane, despite the capital city having higher incomes
SOUTH AUSTRALIA
* Adelaide – Renters must live 30 kms from the CBD to find affordable housing. A previously affordable corridor from Bellevue Heights to Gillman has disappeared
* Regional – Rents in regional areas jumped 12.9 per cent in the past 12 months but it still offers the cheapest median rent anywhere in the nation
TASMANIA:
* Hobart – Median rental rate has grown 60 per cent since 2016. Hobart rental prices are now almost equal to Melbourne even though the average rental household income is 21 per cent lower
* Regional – Affordability at an historic low. The most affordable areas are in the state’s northwest, excluding Bernie and Devonport
WESTERN AUSTRALIA:
* Perth – Rents in Greater Perth have jumped 52.4 per cent since mid 2020. Some suburbs still offer acceptable rents in the CBD, north, east and southeast
* Regional – Most areas offer acceptable to very affordable rent but there is significant variation between regional centres and remote areas
Rachael Ward
(Australian Associated Press)
