️ Highlights:
1. Rental prices have sharply increased across Australia, particularly in Queensland, Western Australia, Victoria, and South Australia.
2. Regional areas have seen double-digit percentage hikes in rents over the past year.
3. The top 10 areas with the highest rental percentage increases include Central Queensland, Goldfields Region in WA, Central Coast in WA, Northern WA, South Western Victoria, South West WA, Southern Queensland, Queensland Far North Coast, Eyre in SA, and Western Victoria.
4. The lack of affordable housing in regional areas is impacting the liveability of these communities and causing difficulties for essential workers to find housing.
5. The government needs to implement ambitious plans to address the rent crisis, including investing more in social housing, ending investor handouts, and preventing unfair rent increases.
Everybody’s Home Campaign Sheds Light on the Escalating Rental Crisis
A recent analysis by Everybody’s Home, a national campaign formed by housing, homelessness, and welfare organizations, has brought to light the sharp increase in rental prices across Australia. The study reveals that Queensland, Western Australia, Victoria, and South Australia are experiencing particularly severe rent hikes, with some regional areas witnessing double-digit percentage increases over the past year. The most affected regions have seen weekly rents surge by between $37 and $133.
Regions with the Highest Rent Increases
The analysis identified the top 10 areas with the most significant rental percentage increases over the past 12 months:
- Central Queensland: 21.8% increase ($77)
- Goldfields Region, WA: 21% increase ($93)
- Central Coast, WA: 20.8% increase ($74)
- Northern WA: 18.4% increase ($133)
- South Western Victoria: 17.3% increase ($77)
- South West WA: 16.8% increase ($83)
- Southern Queensland: 16.7% increase ($67)
- Queensland Far North Coast: 12.5% increase ($54)
- Eyre, SA: 12.5% increase ($37)
- Western Victoria: 12.1% increase ($47)
The Urgent Need for Ambitious Housing Solutions
Maiy Azize of Everybody’s Home emphasized the critical need to address the housing shortfall in regional Australia, highlighting the adverse effects on the liveability of these areas. The lack of affordable housing is driving long-time locals out of their communities and making it difficult for essential workers to find accommodation. An estimated 227,000 social homes are needed in regional Australia to meet current demand, a figure expected to grow over the next 20 years.
Calls for Government Action
The National Regional Housing Summit, held in Canberra, was an opportunity to keep the rental crisis conversation alive. However, Azize stresses that it’s time for governments to act on more ambitious plans to improve housing affordability nationwide. These plans should include increased spending on social housing, ending investor handouts, and preventing unfair rent increases.
A System Out of Balance
Azize further commented on the imbalance in the housing system, exacerbated by government policy decisions. Despite significant taxpayer funds supporting the private rental market, housing affordability has never been worse. Urgent government action is needed to rectify this situation before it deteriorates further.
Conclusion
The sharp rent increases in specific Australian regions underscore the urgent need for comprehensive and ambitious housing policies. As the rental crisis deepens, the call for government intervention to restore balance and affordability in the housing market grows louder.