Anglicare Australia has unveiled heat maps highlighting the alarming rental affordability crisis affecting many areas across the nation. According to their latest Rental Affordability Snapshot, a full-time worker earning minimum wage can only afford 0.6% of rental properties in Australia. For individuals relying on JobSeeker, the situation is even more dire, with only three of the 45,115 surveyed properties within reach, while those on Youth Allowance find themselves unable to afford any rentals.
The report identifies Sydney as the epicentre of high rental prices, with seven out of the ten most expensive electorates located in the city. Kingsford Smith, encompassing suburbs like Maroubra and Coogee, ranks as the least affordable area for renters. In this electorate, a couple living on the aged pension cannot afford any rentals, while a minimum wage couple with two children can only access 2.8% of properties.
The findings further reveal that other expensive electorates include Bradfield, Sydney, and Warringah, where couples on pensions are similarly priced out of the housing market. Additionally, two electorates in Queensland, Fadden and Cook, alongside Pearce in Western Australia, also feature among the top ten unaffordable areas.
In Fadden, a couple on the aged pension can afford just 0.2% of rental listings, and a minimum wage couple with children are limited to 4.7%. Anglicare’s executive director, Kasy Chambers, stressed the urgent need for more social housing, declaring, "Australia’s housing crisis has never been worse," and underscoring that rising rents are impacting both regional and urban areas across the country.
As the federal election approaches, Chambers highlighted the escalating demand for action from political leaders, noting the necessity for approximately 640,000 new social homes. She pointed out that while living costs remain a significant concern, housing affordability is the foremost issue facing Australians, particularly those on lower incomes. Chambers urged the next parliament to raise JobSeeker and related payments above the poverty line, warning that failure to do so could exacerbate homelessness and housing stress.
The Anglicare findings resonate with a survey from Money.com.au, indicating that housing affordability has become a primary concern for younger Australians under 40, overtaking traditional issues like jobs and energy policy. Approximately 17% of Gen Z and Millennials cited access to home ownership as their top priority after living costs, with further considerable percentages indicating rental affordability as a significant concern.
The wider implications of these findings signal a pressing need for systemic change to address the growing crisis in rental housing accessibility across Australia.