June 20, 2012News

Estimated shortage of 539,000 rental properties for lower income renters

The National Housing Supply Council estimates that there was a shortage of 539,000 rental properties that are both affordable and available for lower income renters in 2009–10, according to a report released in June. This is a 14% increase from the estimate of 473,000 for 2007–08. The report also found that in 2009–10, 60% of lower income renters in Australia pay 30% or more of their income on housing costs, and 25% of lower income renters pay 50% or more. Of all the states and territories, New South Wales has the largest proportion of lower income renters paying 30% or more of their income on housing costs, and 50% or more of their income on housing costs — and Queensland rates second. See ‘Housing supply and affordability — key indicators, 2012‘.