Almost half of all Australian suburbs are in extreme pain due to housing unaffordability and low availability, leading to unprecedented stress for renters. Property research group SuburbTrends has quantified this stress based on four factors and found that almost half of all suburbs in Australia are classified as being in extreme pain.
Renters are feeling more hurt than ever as housing unaffordability and low availability contribute to "unprecedented" stress. Almost half of all Australian suburbs are in extreme pain , as quantified by property research group SuburbTrends, founded by Kent Lardner. He said the index takes into account four factors - availability, affordability, vacancy, and price trends - to create a score out of 100. Anything above 75 is considered "critical" on the level of rental stress .
"We really would prefer households to be spending less than 25 per cent of household income on rents," Lardner said. "But increasingly we're finding a number of these suburbs that we're shortlisting spending 30 per cent and more of their household income (on rent)." Across Australia, almost half of all suburbs are classified as being in "extreme pain" based on rental stress. But and recorded the highest levels of stress overall, with 58 per cent of suburbs in both states scoring above 7
Renters Australian Suburbs Housing Stress Unaffordability Low Availability Extreme Pain Rental Stress
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