Almost 40,000 Gold Coast tenants are struggling to pay rent

first_imgAlmost 40,000 tenants on the Gold Coast are facing rental stress. Rental stress is plaguing Gold Coast tenants with more than 37,000 households across five electorates under financial pressure, new data released today reveals. The University of NSW analysis for national housing campaign Everybody’s Home found South Eastern Queensland is one of the worst areas for rental stress across Australia. This is defined as households spending more than 30 per cent of their income on housing costs. Five of the state’s top 10 areas were on the Gold Coast, with Moncrieff leading the Coast for rental stress. Five of Queensland’s top 10 electorates for housing stress were located on the Gold Coast with renters in Moncrieff finding it the hardest. In the electorate, 40 per cent of tenants are under rental stress — that’s more than 10,600 households. It was ranked ninth nationally. McPherson was fifth on the state’s list with 7181 households, or 39 per cent of renters, struggling with rental costs. Fadden, Forde and Wright seats also featured in the top 10, each with more than 35 per cent of tenants under financial strain. MORE NEWS: Hoteliers sell luxury waterfront mansion MORE NEWS: Property taxes hit record levels Everybody’s Home national spokeswoman Kate Colvin said housing affordability wasn’t just an inner Melbourne and Sydney issue and called on the government to stop neglecting Queensland. “The narrow focus on real estate prices for young homebuyers means that almost 190,000 Queensland households in rental stress are being forgotten by governments at all levels,” Ms Colvin said.“Under investment in social housing, increasing rents and low wage growth mean that low income earners and middle income earners are struggling right across the country.”The new data comes after it was revealed financial stress had dramatically worsened for owner-occupiers in 2018-2019, with households under financial pressure growing by more than 2500 in under 12 months, according to Digital Finance Analytics in January.It showed 15,375 of the Coast’s 87,640 homeowners with mortgages were also deemed officially stressed. Cost of living pressure is a hot topic in the Federal Election campaign. Q Shelter spokeswoman Fiona Caniglia said Queensland had eight of the 20 electorates in the country with the highest number of renters under housing stress. “Throughout this Federal Election campaign, candidates have talked a lot about tackling cost of living pressures,” she said. “If candidates are serious about addressing costs of living, then they have to answer what they are going to do to address chronic rental stress including regional Queensland. “We’re calling on all candidates to commit to real measures that will boost the supply of social and affordable housing and reduce the unacceptably high level of rental stress across the state.” center_img [email protected] More from news02:37International architect Desmond Brooks selling luxury beach villa11 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days ago Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 2:09Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -2:09 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p360p360p216p216pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenWhy rental affordability is a problem02:09last_img read more