Gold Coast rentals: Worst suburbs to rent revealed

A new report has pinpointed the Gold Coast’s worst suburbs for rental pain, with tenants in one area shelling out an average of 57 per cent of income on rent. SEE THE TOP 10 LIST

A new study has pinpointed Robina as one of the toughest places in Australia to be a renter.

Property analysis firm Suburbtrends rated the area of Robina East – an Australian Bureau of Statistics designation – as the sixth worst area in the nation for rental pain.

Varsity Lakes, Mermaid Waters, Arundel and Merrimac also make the top 25 list, compiled by measuring rental availability and cost increases facing tenants.

Suburbtrends founder Kent Lardner said the “alarming findings” showed an “unprecedented level” of rental stress.

Suburbtrends founder Kent Lardner.

“(These suburbs) are among the hardest hit, where average rental increases are combined with extremely low vacancy rates, exacerbating the situation,” Mr Lardner said.

The percentage of household income allocated to rent was particularly high in Gold Coast suburbs, clocking in at 43 per cent in Robina, 44 per cent in Varsity Lakes and an eye-watering 57 per cent in Mermaid Waters.

All are above the 35 per cent level that Mr Lardner said was traditionally associated with financial strain.

“As we begin 2024, the Rental Pain Index serves as a crucial indicator of the hardships faced by renters across Australia,” he said.

“The data calls for urgent, multifaceted policy solutions to address the soaring rental costs and limited housing availability. It’s time to turn these insights into action.”

Data from SQM Research shows average weekly rents in the Gold Coast region, including western and hinterland areas, are $955 for houses and $755 for units.

On the northern Gold Coast, the average cost to rent a house is pegged at $1148. On the southern Gold Coast it is $1194.

Vacancy rates in the city are at a low 1.1 per cent.

According to Suburbtrends, the vacancy rate is even lower in worst-affected areas, sitting at just 0.27 per cent in Pimpama North and 0.42 per cent in Robina East.

Its report notes that the Gold Coast also sees some of the most alarming figures for the amount of household income outlaid on rent.

“Queensland emerges as the most affected state, with the majority of the top 25 suburb groups (nationally) located there. Suburbs like Durack, Logan Central, and Deception Bay feature at the top of the list, all with an RPI of 100, indicating the maximum level of rental hardship,” the report states.

“These areas have witnessed significant average 12-month rental increases, ranging from 7 per cent to 15 per cent, coupled with high percentages of median household income dedicated to rent, reaching as high as 57 per cent in Mermaid Waters.”

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Originally published as Gold Coast rentals: Worst suburbs to rent revealed