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|
|Australian Capital Territory||260||380||120||46.2|
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.