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Australia’s most challenging suburbs for tenants
Leave a CommentAre you curious about the current state of renting in Australia? New data has just shone a light on the challenges facing renters across the country. The statistics are eye-opening, with some tenants dedicating over 40 percent of their income to rent payments. On top of that, many have had to endure rent increases exceeding 10 percent in the past year alone.
Suburbtrends, in its September "Rental Pain Index," has ranked Australian suburbs based on various factors, including average rent hikes, the proportion of income spent on rent, and rental vacancies. The index scale ranges from one (excellent) to 100 (time to move out), and the results are striking. Let's count down the top 10 most demanding suburbs for renters in Australia:
10. Kincumber - Picketts Valley, NSW
Located on the stunning Central Coast of New South Wales, Kincumber and Picketts Valley offer a relaxed coastal lifestyle. These suburbs are known for their beautiful beaches, lush national parks, and a strong sense of community.
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- Average 12-month rental increase: Six percent
- Rental affordability as a percentage of income: 44 percent
- Vacancy rate: 0.57 percent
- Rental pain index: 99
9. Bass Hill - Georges Hall, NSW
Bass Hill and Georges Hall are situated in Sydney's west. They are known for their multicultural communities and proximity to essential amenities, making them popular choices for families.
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- Average 12-month rental increase: 17 percent
- Rental affordability as a percentage of income: 45 percent
- Vacancy rate: 1.08 percent
- Rental pain index: 99
8. St Johns Park - Wakeley, NSW
These western Sydney suburbs are characterized by their family-friendly atmosphere and access to parks and schools. They offer a suburban lifestyle within reach of the city.
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- Average 12-month rental increase: 15 percent
- Rental affordability as a percentage of income: 35 percent
- Vacancy rate: 0.87 percent
- Rental pain index: 100
7. Seaton - Grange, SA
Seaton and Grange are coastal suburbs in South Australia. With beautiful beaches and a relaxed vibe, they are popular among beach lovers and offer a quintessential Aussie lifestyle.
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- Average 12-month rental increase: 13 percent
- Rental affordability as a percentage of income: 35 percent
- Vacancy rate: 0.93 percent
- Rental pain index: 100
6. Invermay, Tasmania
Invermay is part of the vibrant city of Launceston in Tasmania. Known for its historic architecture and cultural scene, it's a charming place to call home.
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- Average 12-month rental increase: Nine percent
- Rental affordability as a percentage of income: 35 percent
- Vacancy rate: 0.87 percent
- Rental pain index: 100
5. Rothwell - Kippa-Ring, Queensland
These suburbs are nestled in the Moreton Bay region, known for its water-based activities and family-friendly lifestyle. It's a haven for those who love coastal living.
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- Average 12-month rental increase: 15 percent
- Rental affordability as a percentage of income: 38 percent
- Vacancy rate: 0.28 percent
- Rental pain index: 100
4. Salisbury, SA
Salisbury is a well-established suburb in Adelaide known for its parks and reserves, making it ideal for nature enthusiasts.
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- Average 12-month rental increase: 13 percent
- Rental affordability as a percentage of income: 35 percent
- Vacancy rate: 0.58 percent
- Rental pain index: 100
3. Meridan Plains - Little Mountain (North), Queensland
These suburbs are part of the Sunshine Coast and are renowned for their proximity to beautiful beaches and family-friendly communities.
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- Average 12-month rental increase: Nine percent
- Rental affordability as a percentage of income: 40 percent
- Vacancy rate: 0.41 percent
- Rental pain index: 100
2. Ashcroft - Busby - Miller, NSW
Located in Sydney's southwest, these suburbs offer a suburban lifestyle with access to parks and schools, making them attractive to families.
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- Average 12-month rental increase: 10 percent
- Rental affordability as a percentage of income: 41 percent
- Vacancy rate: 0.7 percent
- Rental pain index: 100
1. Christie Downs, SA
Christie Downs is part of Adelaide's southern suburbs and is known for its community spirit and family-oriented environment.
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- Average 12-month rental increase: 10 percent
- Rental affordability as a percentage of income: 41 percent
- Vacancy rate: 0.77 percent
- Rental pain index: 100
These figures shed light on the challenging conditions faced by renters in various Australian suburbs. With skyrocketing rents and a high proportion of income going towards housing, it's crucial for renters to be aware of their options and seek support when needed.
If you're navigating the rental market or considering homeownership, being part of a real estate agent community can make a significant difference. It's a place where you can access valuable insights, connect with experts, and find the support you need to make informed property decisions.
At Property Mates, we understand the importance of community, and we're here to help you on your property journey. Join our real estate agent community today at Real Estate Experts Archive - Property Mates, and discover why Property Mates is your trusted partner in making home buying easier. Visit us at www.propertymates.io now!
Renting in Australia is no easy feat, but with the right knowledge and support, you can navigate the challenges and find the perfect place to call home.
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Will Australia face a double dissolution election amid housing bill standoff with Greens?
Leave a CommentThe Australian housing crisis has become a hot topic of debate, with Prime Minister Anthony Albanese pushing for the passage of a $10 billion housing bill to address the issue. However, a standoff with the Greens and Coalition has left the bill in limbo, and the possibility of a double dissolution election is looming.
In this blog post, we will delve into the details of the articles and the political landscape surrounding the housing crisis, while also offering a solution that makes the homebuying journey easier for Australians.
Albanese's $10 Billion Housing Bill
The $10 billion Housing Australia Future Fund (HAFF) was a core election promise by Prime Minister Anthony Albanese. The legislation aims to invest $10 billion into the Future Fund to build 30,000 social and affordable rental homes over five years. Despite the government's mandate for the housing bill, the Greens and Coalition's joint opposition has caused a deadlock, preventing its passage through the Senate.
The Double Dissolution Threat: Election on the Horizon?
With the housing bill stuck in limbo, Prime Minister Albanese has raised the threat of a double dissolution election, which could take place next year. A double dissolution is a full Senate election triggered when the Senate rejects the same bill twice, at least three months apart. The government's determination to get the legislation passed and the Greens' refusal to support it has led to this political stalemate.
The Greens' Demands and Opposition's Stance
The Greens have withheld their support for the HAFF, demanding more significant action on renters' rights, including a nationwide rent freeze or cap. On the other hand, the Coalition has staunchly opposed the bill from the beginning, leaving Labor to negotiate with crossbenchers for support. The political game of opposing parties has intensified, with Albanese accusing the Coalition of saying "no to everything" and playing politics.
Property Mates: Your Solution for a Better Homebuying Journey
Amid the political wrangling over the housing crisis, there's a platform that can simplify the process of buying and selling properties - Property Mates. At Property Mates, we offer a trusted and expert-driven solution for all your real estate needs. Our platform has received excellent reviews from satisfied users who found their dream homes or sold their properties effortlessly through the help of our real estate experts. With a user-friendly interface, one-stop shop for all your expert needs, Property Mates makes the homebuying journey easier and more enjoyable.
The Australian housing crisis continues to be a point of contention, with the $10 billion Housing Australia Future Fund legislation at the center of the storm. While a double dissolution election remains a possibility, it is essential to focus on real solutions for homebuyers.
Property Mates is the answer to your real estate needs, providing a seamless experience and access to expert advice. Visit Property Mates at www.propertymates.io and take the first step towards finding or selling your dream home the easy way with our trusted real estate experts!