The proportion of Queensland suburbs in “extreme” rental pain is continuing to rise despite most other states experiencing minor improvements.
The July Rental Pain Index, compiled by property analyst Kent Lardner, revealed that 81.22 percent of Queensland suburbs were in high level rent pain during the month.
This was up from 80.98 percent in June, reflecting a 10.9 percent 12-month rise in rent costs and an average 32.18 percent of income being spent on rent.
New South Wales, Victoria, Western Australia and Tasmania achieved some reduction in the extreme rent pain area of the index while the ACT and Northern Territory were stable.
South Australia was the only state other than Queensland to experience a lift in extreme rental pain.
“Emerging (national) trends indicate a potential easing in some areas, with rental increases beginning to level out,” Mr Lardner said.
“However, the persistent issues of rents consuming over 30 percent of household income remains a significant concern.
“The situation not only impacts renters but also has broader economic implications, affecting household spending and overall economic stability.”
While much of the affordability attention in Queensland is on the city areas, the biggest rental pain in July was experienced in regional areas.
In areas like Daintree, Emu Park and Mount Morgan the rental pain was rate at 100, the maximum pain level, with renters needing to spend about 40 percent of their income on rent.
The Margate-Woody Point area of Redcliffe was also in this zone.
