OVER THE PAST FEW WEEKS we’ve been drilling the idea into your heads that housing affordability is becoming a growing crisis in Australia, but are we finally seeing the light to this continuing battle?
There is some good news! Although, rental prices have not become more regulated NOR has the Government done anything to provide us with more affordable houses, wages are indeed risen in comparison to a drop in rental prices.
Our wages have risen by almost 2.1 per cent over the past year whereas rent across the whole nation has dropped by 0.3 per cent.
- Darwin recorded the biggest drop of 14.1 per cent
- Perth’s rent dropped by 9.4 per cent
- Brisbane’s rent dropped by 1.1 per cent
- Adelaide 0.3 per cent
However, unfortunately, Sydney’s rent has not changed. BUT, rent is now 1.4 per cent lower than their peak in May 2015.
BUT, could this small change in rental affordability really be assisting millions of Australians as over 31 per cent of our population still rent properties and by raising our wages and dropping rental prices, renters are receiving more incentives and financial protection by renting.
With the growing introduction of new properties in to Australia, but not at affordable prices, are tenants being forced out of their current places in order to secure homes at more affordable prices causing tenants to lose income in the long-run due to vacant houses. Or are we really seeing some change in the housing affordability crisis?
Let us know your thoughts below!
All information can be found HERE
-Roof Us First