There is not a single property across Australia – or even a room in a shared house – that’s affordable for someone on youth allowance, according to a new report released today. Source: ABC News.
And just three properties Australia wide were deemed affordable for those on a JobSeeker allowance.
The Anglicare Australia affordability snapshot found rental affordability is the worst it has ever been, with Anglicare describing its findings as “nothing short of horrifying”.
“For those fortunate enough to find a home, they will be forced to choose between putting food on the table and staying warm this winter or keeping a roof over their head,” the report said.
The snapshot reports 45,115 rental listings in March across the country to find what is affordable for low income earners.
It compared the properties with various household types and found affordability “is the worst it’s ever been”, with average rents $200 per week higher than pre-pandemic levels.
A property was considered affordable if it required less than 30 per cent of a household’s income (and had an adequate number of bedrooms), as paying more than that puts renters in housing stress.
Its data revealed just 13.4 per cent of rental listings across the country are affordable for a family of four with both parents on a full-time minimum wage and only 1.8 per cent are affordable for a single parent on a full-time minimum wage.
Anglicare Australia outlined bold reform to address Australia’s housing crisis, including tax reform and federal government involvement in the building of social housing.
The report indicated “an overhaul of the tax regime” is needed – including the capital gains tax discount being phased out over a period of 10 years and negative gearing deductions to be phased out for new investors in the private market.
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