Tell me about it …
A new Everybody’s Home report reveals that Australians on the lowest incomes are being priced out of renting in virtually every corner of the country, despite a rise in Centrelink payments and rent assistance.
The ‘Priced Out’ 2024 report shows people who primarily rely on Centrelink payments and the full-time minimum wage would be in severe rental stress across all capital cities and most regional areas.
The report applies Friday’s indexation increase to Centrelink payments and 10 percent rise to Commonwealth Rent Assistance (CRA) with indexation on top, with the findings underscoring the need for more social housing and for payments to reflect the cost of housing.
Key findings include:
- Single JobSeeker recipients are facing acute rental stress, and would have to spend all their income or more on unit rents in most capital cities and 10 regional areas
- Those relying on the Age Pension, Disability Support Pension or working full-time on the minimum wage would likely be in severe rental stress in almost every part of the country
- Based on capital city rents, people on the Age Pension and Disability Support Pension would be left with $8 a day after paying rent, while a person on the minimum wage would be left with a little over $25 a day. A person on JobSeeker would be left with $0 and have to find $122 on top of their income.
- The most unaffordable areas outside of the capital cities include the Gold Coast, Northern WA, Sunshine Coast, and Wollongong, where people primarily living on Centrelink payments, or the minimum wage would have to spend at least half their income on rent.