Seaforth the least affordable suburb to rent a home in any Australian city

Sydney is home to the most unaffordable rental market in Australia, new research has found. And you can’t even see the Harbour Bridge.

The north side of Sydney has emerged as the least affordable place to rent in any Australian city.

Six of the ten most unaffordable suburbs in the land are between Northbridge and Avalon, according to National Shelter and SGS Economics’ new Rental Affordability Index.

The worst is Seaforth, with a median weekly rent of $1450, meaning that average Sydneysiders would have to spend 65 per cent of their income to lease a home there.

The others in the top 10 were Northbridge, Belrose, Frenchs Forest, Warriewood and Avalon/Bilgola.

Shelter NSW chief executive John Engeler said “we are past the point of ringing alarm bells about Sydney’s rental affordability”.

The data reveals Sydney’s median rental price has increased by $100 in a year to $650 per week — an 18.2 per cent jump.

At the same time, the average income among renters has only gone up by 2.4 per cent.

Seaforth is the least affordable suburb to rent in Australia. Picture: Supplied

The areas with “acceptable” rental prices that are closest to the Sydney CBD are Campsie, Lakemba, Rosehill and Parramatta.

The news is barely better in regional NSW.

Jindabyne in the Snowy Mountains is the least affordable location Australia-wide.

In Jindabyne, the median rent is $1150, which equates to 70 per cent of the average income for regional NSW households.

Byron Bay was also in the top 10 nationally.

SGS Economics & Planning Principal Ellen Witte said “key workers in critical industries are travelling further and further and being priced out of their city”.

“We need a serious plan to provide the right housing at the right price to people who really need it,” Ms Witte said.

Other parts of Australia with severely unaffordable housing included City Beach in Perth and Eumundi on Queensland’s Sunshine Coast.

Originally published as Seaforth the least affordable suburb to rent a home in any Australian city