(Submit) Search Use keywords to search content on this website

Housing stress is rising up the income ladder according to industry report

   June 15, 2016 3:10pm
--
   per cent and a whopping 85 per cent of their income on rent. Industry
   experts have long maintained that a household is actually in “housing
   stress” when more than 30 per cent of the total income is spent on
   rent.

--
   pays to the total income being brought in. The study works on the basis
   that an RAI figure of 100 is where rent represents 30 per cent of
   income. The higher the number, the lower the level of housing stress.

   Unsurprisingly, Sydney was ranked as the least affordable city in
--
   “Australia’s lowest income households — those on around $500 a week —
   are paying up to 85 per cent of their income on rents. Middle-income
   households are also falling into housing stress as high rents chew up
   incomes that aren’t keeping pace with rising housing costs. It is clear
   that rental unaffordability is dividing Australia,” Mr Pisarski said.
--

   “We need a national strategy to address the deterioration of rental
   stress but what we are getting is the opposite. Government cuts over
   the past five years, including cuts to the National Rental
   Affordability Scheme (NRAS), have only contributed to the current