The Rental Affordability Index is released every year, and continues to document the worsening state of Tasmania’s private rental market – compared to five years ago, statewide rents are up 37%, significantly outpacing any increases in people’s incomes. The three-year trend for greater Hobart shows a decrease in affordability of 9.4%.
As we know, an expensive and competitive private rental market is toughest for people on the lowest incomes. The best way to address housing crisis, homelessness and housing hardship is to increase the supply of social housing which sets rents as a proportion of household income, and therefore remains affordable in the long term. Read more…