29 November 2022
Today’s Rental Affordability Index shows that more social and affordable homes are desperately needed in NSW, with figures revealing a single person on JobSeeker in Greater Sydney spending 116 per cent of their income in rent.
The situation in regional NSW is also dire, with a single renter on JobSeeker spending 72 per cent of their income in keeping a roof over their heads.
A single pensioner spends 69 per cent of their income on rent in Greater Sydney, according to today’s Index.
The Index also revealing:
- Lismore is one of the worst affected areas with affordability dropping by 10 per cent
- Regional areas including Orange and Mudgee have become unaffordable
- Coastal areas of regional NSW have experienced the greatest decline in affordability over the past two years.
CHIA NSW CEO, Mark Degotardi, said more needs to be done to confront the housing crisis in NSW.
“Interest rates are continuing to rise which is causing a knock-on effect for renters with prices skyrocketing at the same time rental vacancies are at an historic low,” Mr Degotardi said.
“An unprecedented number of NSW residents are facing housing stress and homelessness, with the demand for affordable housing now out of control.
“Many families are facing the prospect of a bleak Christmas- unable to afford to buy gifts due to rising rents or facing uncertainty about where they’ll be living in the new year.
“The private rental market just cannot provide enough affordable homes for renters. That’s why targeted investment in social and affordable homes is critical.
“CHIA NSW is calling on all political parties in NSW to make a commitment to invest in social and affordable homes to ensure low-income families have a place to call home.
“There are already over 50,000 families and individuals on the waiting list for social housing in NSW alone. In regional NSW, that figure is 16,700. These are all families who need long-term, secure homes.
“Social and affordable housing, built by not-for-profit community housing providers, will do what private development can’t. It will give low-income families renting across our state a long-term secure home.
“We need urgent investment from the State Government to build more social and affordable housing to get families in NSW out of the housing crisis and into long-term, secure homes,” Mr Degotardi said.
Media contact: Bron Matherson, 0438 844 765