Rental rises across Australia
The latest Rental Affordability Index report shows rents continue to march upwards… In fact, the data points to increases in every capital city in the past year, with Sydney’s affordability declining by 13% while Melbourne and Perth became 10% more unaffordable. It doesn’t stop there – economist and report co-author Ellen Witte says intrastate moves during the pandemic also led to steep regional increases. “The main takeaway really is it’s now a national problem,” she says. To illustrate that, reports say single low-income Aussies on unemployment payments are forking out at least 78% of their income on one-bedroom apartments in capital cities. Outside our metropolitan areas, homes in regional South Oz are the most expensive to rent, costing single jobseekers 53% of their income.
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