{"id":102502,"date":"2025-03-15T17:20:00","date_gmt":"2025-03-15T06:20:00","guid":{"rendered":"https:\/\/en.econostrum.info\/au\/?p=102502"},"modified":"2025-03-15T16:34:16","modified_gmt":"2025-03-15T05:34:16","slug":"renting-harder-australia-in-this-state","status":"publish","type":"post","link":"https:\/\/en.econostrum.info\/au\/renting-harder-australia-in-this-state\/","title":{"rendered":"Renting Has Never Been Harder in Australia, Especially in This State"},"content":{"rendered":"\n

Renting a home in Australia has become an increasingly difficult task for many, with rising costs pushing more and more people out of the rental market. Recent data from PropTrack, as reported by SBS News<\/a>, reveals that median-income households can afford only around a third of advertised rentals. <\/p>\n\n\n\n

This growing unaffordability, which has reached levels worse than those seen following the Global Financial Crisis, is a clear indication of the mounting pressures that renters face in today\u2019s market, making it harder than ever to secure a place to live.<\/p>\n\n\n\n

The Stark Contrast Between Rents and Incomes<\/h4>\n\n\n\n

According to the PropTrack report, which uses data from the Australian Bureau of Statistics, rents have grown nearly double the rate of household incomes between 2020 and 2024. Specifically, rents increased by 48%<\/strong>, while the median household income rose by only 25%<\/strong>.<\/p>\n\n\n\n

This gap is making it harder for many people, even those earning above the median income, to find affordable housing. For Chantel Le Cross, who earns $116,230<\/strong> a year before tax, living alone and affording a rental is becoming an increasingly difficult task, with both financial and availability challenges. <\/p>\n\n\n\n

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Living alone has always been more expensive and it’s always been kind of a privilege that I could even afford it – they said. <\/p>\n<\/blockquote>\n\n\n\n

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But doing it now is so much harder in terms of both financially affording it, but even just actually finding places.<\/strong><\/p>\n<\/blockquote>\n\n\n\n

Factors Driving Rental Unaffordability<\/h4>\n\n\n\n

Professor Hal Pawson from UNSW\u2019s City Futures Research Centre attributes the rapid rise in rents to a combination of rising demand and slow increases in rental supply. While costs for landlords, such as higher insurance premiums and strata fees, have also gone up, these additional costs are being passed on to tenants, further driving rent prices up. Pawson explained, <\/p>\n\n\n\n

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The fact that we’ve seen such rapid rent inflation over the last few years is very much because we’ve had rising demand and only very gradually rising supply or supply not keeping up effectively.<\/p>\n<\/blockquote>\n\n\n\n

He further noted,<\/p>\n\n\n\n

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I think it’s not just another report on a familiar topic telling a similar story, because in some ways, it does suggest to me fairly convincingly that things have continued to get even tougher, until at least very recently.<\/p>\n<\/blockquote>\n\n\n\n

The Lasting Impact of the Pandemic<\/h4>\n\n\n\n

The report also highlights how the COVID-19 pandemic has had a lasting impact on rental prices, particularly for the most affordable properties. Areas that were traditionally within reach for renters are now becoming more expensive, with limited availability. <\/p>\n\n\n\n

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Median rents have increased across the country since the pandemic. Source: PropTrack<\/figcaption><\/figure>\n\n\n\n

The shortage of social housing has intensified competition at the lower end of the rental market, making it even harder for low-income households to find suitable housing. Pawson commented, <\/p>\n\n\n\n

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Greater and greater competition at the bottom of the rental market from or involving at least some people who in days gone by would’ve had a good chance of being housed in public housing or by a community housing provider.<\/p>\n<\/blockquote>\n\n\n\n

The Challenges Facing Different Groups<\/h4>\n\n\n\n

The issue of affordability is particularly severe for younger and older renters. The PropTrack<\/a> data shows that 85%<\/strong> of households aged 15-24 are renting, but they can afford only 19% of the available rental properties. <\/p>\n\n\n\n

Renters aged 65 and above face even fewer affordable options. Additionally, people with disabilities face additional barriers, such as the need for accessible properties with specific features like lifts or air conditioning, further limiting their choices. <\/p>\n\n\n\n

Le Cross, who also has a disability, explained, <\/p>\n\n\n\n

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I also have a disability, so I have to navigate, ‘Is this place accessible? Does it have a lift? Does it have aircon?’ All these things that I need for my health.<\/p>\n<\/blockquote>\n\n\n\n

Younger Renters Face Higher Barriers<\/h4>\n\n\n\n

Le Cross highlighted a significant generational divide in who is renting and who is not, with even older generations starting to feel the strain. <\/p>\n\n\n\n

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“A very clear generation divide in terms of who’s renting and who isn’t – they said. <\/p>\n<\/blockquote>\n\n\n\n

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“Even my dad, who’s in his 60s, has started to understand things that I’ve been complaining about for a while because he’s now renting.”<\/p>\n<\/blockquote>\n\n\n\n

Rental affordability varies across Australia, with New South Wales (NSW) being the most unaffordable state, a position it has maintained for most of the last two decades. Other states such as South Australia, Tasmania, Western Australia<\/a>, and Queensland follow closely behind. <\/p>\n\n\n\n

In contrast, Victoria<\/strong> has seen less significant increases in rent, making it relatively more affordable than other states.<\/p>\n\n\n\n

The challenges facing renters across Australia are undeniable. With incomes struggling to keep pace with rent increases and limited affordable housing options, many Australians are finding it harder than ever to secure a place to live.<\/p>\n","protected":false},"excerpt":{"rendered":"

Renting in Australia has reached crisis levels, with rising rents outpacing income growth. Median-income households now struggle to afford even a third of available rental properties.<\/p>\n","protected":false},"author":9,"featured_media":102504,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-102502","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33","no-featured-image-padding"],"_links":{"self":[{"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/posts\/102502","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/comments?post=102502"}],"version-history":[{"count":1,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/posts\/102502\/revisions"}],"predecessor-version":[{"id":102505,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/posts\/102502\/revisions\/102505"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/media\/102504"}],"wp:attachment":[{"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/media?parent=102502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/categories?post=102502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/tags?post=102502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}