Gold Coast rentals: How costs compare to rest of Australia

A damning new report has revealed Gold Coast renters are in a tougher spot than in any other city in Australia. Here’s how bad it is in your suburb.

The Gold Coast is the most difficult city in Australia to afford a rental, a damning new report has revealed.

The National Shelter-SGS Economics and Planning Rental Affordability Index, released on Tuesday, compared rental costs with incomes in postcodes across the nation.

It rates every Gold Coast suburb as unaffordable, with the majority classed as “severely unaffordable” – meaning more than 38 per cent of household income is being spent on rent.

In contrast, despite the housing crisis gripping the much of the country, rental costs in large tracts of every capital city in Australia are rated either “acceptable” or “moderately unaffordable”, suggesting renters elsewhere have more options.

In Brisbane for example, only two postcodes make the “severely unaffordable” category that dominates the Gold Coast.

Map showing rental affordability in Gold Coast.

“(Rental) unaffordability is hurting the economy,” said SGS Economics and Planning Principal, Ellen Witte.

“Households will have to live further away from where the jobs are to access affordable rents, and businesses are struggling to find workers.

“Governments must urgently address this worsening affordability crisis, including by building more homes and better regulating renting.”

The 4212 postcode which encompasses Helensvale and Hope Island was rated the least affordable on the Gold Coast, with rental costs eating up 46 per cent of average household income.

Renters fare little better in most parts of the city, with Southport, Coolangatta and suburbs in the western 4211 postcode the only areas south of the Coomera River to not make the “severely unaffordable” category.

Map showing rental affordability in Brisbane.

The situation in northern NSW is no easier, with Tweed Heads and Kingscliff also rated severely unaffordable, with renters needing to travel to Logan or Beaudesert to find any real relief.

“It’s deeply troubling to see that average renters have to put themselves in rental stress just to keep a roof over their head,” National Shelter CEO Emma Greenhalgh said.

“The situation is even worse for low-income households, many of whom simply cannot afford to rent safely in the private market.

“From the Gold Coast to Townsville, the shocking plunge in affordability is stark and widespread right across the state.”

Ellen Witte, Principal and Partner at SGS Economics and Planning and lead author and analyst of the report.

The report highlights that the rental affordability situation on the Gold Coast has deteriorated markedly from previous years.

“The Gold Coast area only offers Unaffordable to Severely Unaffordable rents,” it states. “In 2020, it offered Moderately Unaffordable to Unaffordable rents.”

Ms Witte said the data pointed to the need for “strong reform”.

“This downward spiral has now reached the point where very few affordable long-term rentals are on offer,” she said.

“We need to attack this problem from multiple angles. This means expanding social and affordable housing, rethinking how we use tax subsidies and strengthening renters’ rights.”

NOT ENOUGH MONEY LEFT FOR FOOD

Sharyn Perez-Ramos for Red Bag appeal. Sharyn was helped by red bags earlier this year when cost of living pressures meant she did not have enough money for food. Picture: Glenn Campbell

Amid rising food and housing costs, Surfers Paradise resident Sharyn Perez-Ramos found herself struggling with finances and unable to afford enough to eat.

She was helped with the delivery of Red Bags from the Wesley Mission Queensland (WMQ), and with Christmas approaching, the charity is gearing up to distribute thousands of bags to families in need.

“They helped me out during a difficult time in my life,” Ms Perez-Ramos said. “I found myself struggling and I couldn’t make ends meet, and I was lacking in funds to buy enough food.

“ … When I did not know about the Red Bag appeal, I did struggle for a few days without eating. There are times when I was only living off bread and milk.”

According to the charity, Ms Perez-Ramos is one of millions of Australians to experience food insecurity amid soaring costs for households.

Robina Service Hub team member Michelle Airey said many children were going to school hungry on the Gold Coast as a result.

“A lot of people that access our services are families with kids who are going to school with empty bellies because their parents simply cannot afford it,” Michelle said.

“We’re working hard to close the gap. When the Red Bag Appeal comes around each year, we have these amazing bags full of beautiful goods and you can see the difference it makes to the families.

“It is an incredible feeling for us as workers. And, you know, we’re so grateful for all the donations that come in.”

The annual Red Bag Appeal runs until November 24. To learn how you can help, visit www.wmq.org.au.

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