Rental Affordability Index, Nov 2016

Produced by National Shelter, Community Sector Banking and SGS Economics & Planning, the RAI is an easy to understand indicator of rental affordability relative to household incomes across Australia. Released biannually, the RAI is intended to complement the Housing Affordability Index (HAI), which is a price index for the purchase of houses.

Adrian Pisarski, Executive Officer of National Shelter, said the index shows “low income households continue to face unaffordable rents and high levels of housing stress despite some improvements in the rental market – additional supply in capitals has not eased rental affordability for low income households”.

Shelter Tas has welcomed the latest RAI report, but is concerned that the results have not improved since the last report in June 2016.

‘This report confirms that people on low incomes who are living in the private rental market in Greater Hobart are paying well over 50% of their incomes in rent. This leaves less money for essentials such as food, electricity, health and transport. The more people have to pay on rent, the less they have to pay for these essential items, which leaves people to make very cruel choices’, Shelter Tas EO Pattie Chugg said.

Please click on the following links to access:

Full Rental Affordability Index report

Shelter Tas media release – ‘Hobart rental affordability second only to Sydney

National Shelter media release – ‘Australia’s rental affordability crisis pushing people into homelessness‘.