Cost of living crisis: Qlders struggle to afford rent, mortgage, food

Two-thirds of Queenslanders are having trouble paying their rent or mortgage – meaning they are going without some everyday items. FULL DETAILS

Two-thirds of Queenslanders are having trouble paying their rent or mortgage, and a third expect their financial situation to worsen over the next year, exclusive new polling reveals.

Amidst the cost-of-living crisis, Queenslanders are sacrificing holidays, with half of the state’s respondents either struggling to afford a getaway or putting a break on the backburner.

The DemosAU cost-of-living polling surveyed 2167 Australians between December 8, 2023 and January 7, 2024. This included 714 Queensland residents.

It showed Queenslanders are not optimistic about their financial futures, with more than a third fearing their money situation will worsen by this time next year.

Around 30 per cent said their financial situation won’t change much, 27 per cent were optimistic that their finances would improve, the rest didn’t know what the future held.

When it came to essentials like fuel, groceries, and rent/mortgage payments, less than 25 per cent of Queensland respondents reported having great difficulty affording these.

Queenslanders are struggling to afford the cost of living.

Most described experiencing only some difficulties with these necessities, while more than 25 per cent of Queenslanders reported having no problems affording these essentials.

There was a dramatic shift in responses when it came to holidays and other luxury items.

Almost half of Queenslanders reported having great difficulty affording a holiday or said they were trying to avoid this expense altogether.

One-third said they were experiencing some difficulty finding the money for a getaway, while around 15 per cent had no issues affording a holiday.

DemosAU head of research George Hasanakos said with nine months until the State Election, the new Miles-Labor government should be concerned by these figures.

“Simply put, for groceries and petrol, people are trying to cut costs. For holidays and luxury items, there’s a lot more abstaining,” he said.

“Seven out of ten Queenslanders report having at least some difficulty, or attempt to cut costs, when paying for groceries and petrol.

“The belt is tightened even more for holidays and luxuries with over eight in 10 of Queenslanders either having at least some difficulty or limiting these expenses.

“With similar figures nationwide, there is no doubt that Queenslanders are feeling the pinch.”

Mr Hasanakos also highlighted an interesting nationwide trend.

“The mood is especially dark in regional and outer metro areas,” he said.

“In inner city areas, nationally, 35 per cent of respondents expect things to improve, compared to 25 per cent in outer metro areas and 20 per cent in the regions.

“For State Labor facing the polls in October these figures mean they will have a harder time defending their 14 regional seats, 11 of which are held on single digit margins.”

The Courier-Mail’s recent cost-of-living sentiment survey revealed that of the nearly 7000 respondents, almost 40 per cent said they had struggled to pay their mortgage, rent or bills in the past 12 months – which was twice as many as there were three years ago.

It also showed seven in 10 Queenslanders have ditched grocery items to manage soaring cost-of-living pressures.

Originally published as Cost of living crisis: Qlders struggle to afford rent, mortgage, food