The number of suburbs in Australia where households are facing serious rental stress has increased over the last month, but there are early signs that pressure is beginning to ease in some areas.
According to the latest Rent Pain Index from real estate analysts Suburbtrends, the proportion of suburbs across the nation in extreme pain rose from 72.25 per cent in June to 72.90 per cent this month.
The report called for “targeted interventions to address affordability issues”, noting that unaffordable rents have a negative effect across the entire economy.
“The impact of high rents on household budgets is profound,” Suburbtrends founder and managing director Kent Lardner said.
“Many families are forced to allocate a substantial portion of their income to housing, leaving little room for other essential expenses.
“It is crucial for policymakers to focus on reducing rental costs to sustainable levels.”
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