Hobart now Australia's most unaffordable city for tenants

Discussion in 'Property Market Economics' started by See Change, 4th Jul, 2019.

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  1. See Change

    See Change Well-Known Member

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    Hobart now least affordable capital for renters\

    Hobart has pipped Sydney to claim the unenviable title of Australia's most unaffordable capital for tenants with the gap widening between incomes and the amount needed for rent, a new report has found.

    The Rental Affordability Index (RAI) is an indicator of the price of rents nationwide relative to household incomes based on new rental agreements.

    The biannual study is published by National Shelter Community Sector Banking and SGS Economics and Planning.

    From being seen a budget alternative to the mainland cities, Hobart's unprecedented real estate sales boom combined with low incomes, a tourism burst and a surge in former rental properties being offered as short-term accommodation, has catapulted it to the top of the RAI.

    The latest report showed tenants in Hobart were spending 29 per cent of their wages on rent with Sydney renters close behind with 27 per cent, followed by Adelaide, Brisbane, Melbourne, Canberra and Perth.

    Cliff
     
    See Change, 4th Jul, 2019
    #1
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  2. TSK

    TSK Well-Known Member

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    It certainly doesn't help that subdivision requirements out of step with the rest of nation (IMO).

    Actually what has been people experiences of sub divisions in and around Hobart?
     
    TSK, 6th Jul, 2019
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  3. JoHa

    JoHa Well-Known Member

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    Article is from May 2018.
     
    JoHa, 6th Jul, 2019
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  4. Angel

    Angel Well-Known Member

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    Jacqui just fixed that
     
    Angel, 6th Jul, 2019
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  5. See Change

    See Change Well-Known Member

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    Sorry linked the wrong story . There was an article on ABC news radio that morning ( thursday re hobart rentals being most expensive in relation to income ) cant find the correct link at this stage .

    Cliff
     
    See Change, 7th Jul, 2019
    #5
  6. TSK

    TSK Well-Known Member

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    TSK, 7th Jul, 2019
    #6