Australia’s rental market is failing too many people, according to the latest Rental Affordability Index (RAI) – particularly pensioners, working families with children, and young adults. Overall, Sydney remains the least affordable city for renters, followed by Hobart.
Renters in Greater Sydney have to set aside at least 29% of their income to cover rent. In Greater Hobart, the percentage is 28%.
The Rental Affordability Index has been released biannually by National Shelter, Community Sector Banking, and SGS Economics & Planning since 2015. It provides an easy-to-understand indicator of the price of rents relative to household income.
The latest RAI made it clear that low-income households and society’s most vulnerable members, including students and older women, could no longer afford to live in metropolitan areas, where more employment opportunities could be found.
Click here to read more.