28.9 C
Byron Shire
March 9, 2021

New report reveals extent of local rental affordability crisis

Latest News

Sowing the seed for a connected, local food chain

Lisa Machin If you’ve ever been to the New Brighton or Mullum Farmers Markets you’d be forgiven if you thought...

Other News

Interview with Janet Swain

Janet Swain is 14. She’s in love with the tragic and brilliant cellist Jacquleine DuPré. But one day her mother arrives home with a bassoon.

Democracy

Jo Faith, Newtown Thank you all at The Echo for upholding independent journalism. For readers and activists concerned about the demise...

Where does a lack of empathy lead us? 

Democracy, as a concept and a form of governance, was first introduced by the Greeks around 507 BC.

Editorial – #ChooseToChallenge the patriarchy

It is easy to think we have almost achieved equality for men and women in a country like Australia – just as long as you don’t think too hard about it.

Byron carjacker and stolen vehicle still not found

Police say that a man carjacked a 17-year-old in Byron Bay just before midnight on Friday.

What’s happening with South Ballina Beach?

The debate about the future of the beaches south of Ballina is heating up again as councils and concerned citizens grapple with the ongoing issue of 4WD-related damage.

That the local rental market is tighter than a bee’s proverbial isn’t exactly a startling revelation.

But a new report shows that the North Coast is the least affordable in regional NSW when average weekly incomes are taken into account, leading to soaring levels of housing stress.

The Affordable Housing Income Gap Report, released this week by Compass Housing, found that Byron, Ballina and Tweed make up three of the four least affordable local government areas in the state when it comes to renting.

The report takes a new approach to the measurement of rental affordability, establishing the amount of additional income a typical renting household needs to avoid housing stress on various types of dwellings.

Byron Shire tops the list, with households needing 48 per cent of the median income to afford the median rent.

The median weekly income earned by households in the Shire is $1,218 but the median rent is $590 per week – $60 per week more than the Sydney median of $530.

With housing stress kicking in when rents reach 30 per cent of income, Byron households need an extra $749 a week in their pay packets to avoid housing stress.

The five local government areas on the North Coast fill the top six positions on the list, with only the South Coast LGA of Shoalhaven coming in at number five, above Coffs Harbour.

Compass Housing spokesperson Martin Kennedy said the findings demonstrated that it wasn’t just those on the bottom rung of the income ladder who were affected.

‘Working people are struggling to afford suitable rental properties,’ Mr Kennedy said.

‘This can have a real impact on living standards because people in housing stress are less able to pay for other essentials like food, utilities, insurance, healthcare, childcare, and debt repayments.’

The report recommends a series of initiatives to be introduced across the country, including the construction of 500,000 social and affordable housing dwellings in the next 10 years, reviewing the tax system to provide more equal support for investors, first home buyers and renters, and changing tenancy laws so that renters have greater security of tenure.


Support The Echo

Keeping the community together and the community voice loud and clear is what The Echo is about. More than ever we need your help to keep this voice alive and thriving in the community.

Like all businesses we are struggling to keep food on the table of all our local and hard working journalists, artists, sales, delivery and drudges who keep the news coming out to you both in the newspaper and online. If you can spare a few dollars a week – or maybe more – we would appreciate all the support you are able to give to keep the voice of independent, local journalism alive.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

The moveable feast

David Lowe There’s never been a better time to revisit the classic picnic and its many variants. With many venues moving to focus on outdoor dining...

Have you been to Oma yet? 

Oma is the newest food and wine bar in Byron Bay, established by the team at Three Blue Ducks. It has replaced the old...

Where does a lack of empathy lead us? 

Democracy, as a concept and a form of governance, was first introduced by the Greeks around 507 BC.

A Lego load of fun on the Gold Coast

A place for water dragons to thrive was the theme of a construction competition at Southern Cross University (SCU) yesterday. The tricky part was making the build with Lego.