Aussie Rent Is Increasing Twice As Fast As Wages

The Australian Bureau of Statistics has released its 2011 report on home rental costs in Australia and the news isn’t pretty. The latest figures reveal a sharp increase in weekly household rent across the country, with median rental costs increasing twice as much as wages between 2006 and 2011. Here’s a look at the Australian states and regions that have been hit the worst.

Sydney picture from Shutterstock

According to the ABS’ most recent Rental Rates report, the median weekly household rent rose from $191 in 2006 to $285 in 2011; an increase of nearly 50 per cent. Meanwhile, the median weekly household income increased from $1027 to $1234 over the same period; an increase of just 20.2%.

Here’s a look at how median rental payments increased between 2006-2011 across each State and Territory:

State 2006 median 2011 median Dollar change Percentage change
New South Wales 210 300 90 42.9
Victoria 185 277 92 49.7
Queensland 200 300 100 50
South Australia 150 220 70 46.7
Western Australia 170 300 130 76.5
Tasmania 135 200 65 48.1
Northern Territory 140 225 85 60.7
Australian Capital Territory 260 380 120 46.2
Australia(b) 191 285 94 49.2

As you can see, Western Australia reported the biggest increase of median weekly rent with a rise of 76.5 per cent. The ACT had the highest median weekly rental payment in 2011 of $380. All states and territories reported a rent increase of over 40 per cent between 2006 and 2001 — an increase that consistently outpaced income.

In terms of local government areas, the highest median weekly rent payments were mostly located in the Greater Sydney region, including Manly, Pittwater, Leichhardt, Waverley, North Sydney and Mosman. Ku-ring-gai topped the list with a median rent payment of $575 per week.

The fastest growth in median rent payments was recorded in the township of Weipa in far north Queensland, which jumped a whopping 569.4 per cent between 2006 and 2011. However, its starting rate was just $36 per week which makes the increase slightly more justifiable.

Rental Rates in Local Government Areas, 2011 [ABS]

The Cheapest NBN 50 Plans

Here are the cheapest plans available for Australia’s most popular NBN speed tier.

At Lifehacker, we independently select and write about stuff we love and think you'll like too. We have affiliate and advertising partnerships, which means we may collect a share of sales or other compensation from the links on this page. BTW – prices are accurate and items in stock at the time of posting.


26 responses to “Aussie Rent Is Increasing Twice As Fast As Wages”