On Friday 22 November, SGS Economics and Shelter Australia released the latest Rental Affordability Index. The results show that Australia’s rental crisis is getting worse and driving more households into serious financial hardship. Low income earners continue to face the heaviest burden of the housing crisis.
The housing crisis continues to severely impact both urban and regional areas. Perth has overtaken Sydney as the least affordable city to rent.
- Perth’s median rent is $629, or 31% of median incomes
- Sydney’s median rent is $720, or 30% of median incomes.
All major cities and regional areas are now classified as “critically unaffordable” for those relying on JobSeeker, part-time parenting payments, or pensions.
There is some good news, with Tasmania and ACT recording slight improvements in affordability, with ACT benefitting from rent increase limits introduced in 2019.
This crisis demands immediate bipartisan action to increase the supply of affordable housing across the nation, to limit rent increases as in ACT and ultimately ensure that everyone living in our country has a safe and affordable home.
