Rentals out of reach

Money Magazine Australia - - PROPERTY | REAL ESTATE -

Pen­sion­ers and work­ing par­ents have been priced out of the rental mar­ket in all metropoli­tan ar­eas, ac­cord­ing to the lat­est Rental Af­ford­abil­ity Index (RAI). Rental af­ford­abil­ity dropped in all cities ex­cept Perth over the last quar­ter.

Rental af­ford­abil­ity in Syd­ney is at a record low, with a full-time teacher who is a sin­gle par­ent pay­ing 43% to 55% of the fam­ily’s in­come on rent, says Ellen Witte, part­ner at SGS Eco­nom­ics & Plan­ning.

The sit­u­a­tion for pen­sion­ers is even worse – a sin­gle pen­sioner rent­ing a one-bed­room unit any­where in Syd­ney needs to put 60% or more of their pen­sion to­wards rent.

Na­tional Shel­ter, Com­mu­nity Sec­tor Bank­ing and SGS Eco­nom­ics & Plan­ning have re­leased the RAI on a bian­nual ba­sis since 2015.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.