Nearly 500,000 Queensland households now unable to afford basics as rental crisis deepens
Almost half a million households cannot afford basic living costs after paying rent, with new data showing three in four renters statewide now in financial stress. SEARCH YOUR SUBURB
More than 490,000 Queensland households across the state can no longer cover basic living costs once rent is paid, with new data revealing hundreds of suburbs are now classified as being in rental stress.
The staggering local figures form part of a broader national crisis laid bare in a new report by Digital Finance Analytics (DFA) which shows three in four renting households Australia wide — about 2.32 million — are now in rental stress, meaning tenants are spending an unsustainable percentage of their income on rent.
According to the DFA data, this includes 493,173 Queensland households currently experiencing rental stress across 315 postcodes.
Opposition Leader Steven Miles said the figures showed the cost of living crisis was worsening and has urged the Crisafulli government to “take the burden” off Queenslanders through the upcoming budget review.
“No matter where you are in Queensland, rents are going up, food is more expensive, electricity is almost unaffordable, and the cost of everyday essentials are bringing family budgets to breaking point,” he said.
“It’s times like these when good governments act to take the burden off Queenslanders, to keep their heads above water, and the Premier must use his Mid Year Budget to do that.”
Housing Minister Sam O’Connor said the government's record $8.1bn housing budget and home build pipeline would ease pressures.
“Boosting housing supply across Queensland is our number one priority to help renters who are struggling after a decade of decline,” he said.
“And we’re making changes to drive productivity on construction sites to deliver for Queenslanders experiencing housing stress.”
Housing stress is being experienced most in Brisbane which now has 31 suburbs where every single renter is struggling.
On the Gold Coast, 81 per cent of renters are struggling and in Logan, 86 per cent of tenants are in rental stress.
In the regions, 83 per cent of tenants in Toowoomba are in housing stress, while Moreton Bay and Ipswich sit at 81 per cent, Bundaberg 75 per cent, Mackay 51 per cent, Rockhampton 68 per cent, Townsville 32 per cent and Cairns 43 per cent.
It comes after the Courier-Mail this week revealed regional Queensland is now the most unaffordable regional market in Australia, with tenants paying an average of $648 per week, according to the latest he Rental Affordability Index.
Q Shelter general manager of policy Jackson Hills said Queensland direct investment in social and affordable housing and investment in build to rent schemes to boost housing supply was crucial, with the market highly sensitive to price changes and Queensland’s vacancy rate still sitting at 1 per cent.
Mr Hills said the Commonwealth Rent Assistance scheme should also be adjusted to match “real” rental market conditions in both metropolitan and regional areas.
“Affordability needs to exist in our inner city urban areas as much as it does on the fringe of our cities and in our regions,” he said.
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Originally published as Nearly 500,000 Queensland households now unable to afford basics as rental crisis deepens
