Census 2016: Rental Stress on the rise

While record low interest rates have kept mortgage serviceability under control, unfortunately the 30% of Australian’s who are renters are being squeezed by rising rentals.

Rising rents, which are prompting a greater proportion of adult children to stay, or move back home, boosted the proportion of all households spending 30 per cent or more of their household income on rent – one accepted measure of housing stress – up to 11.5 per cent from 10.4 per cent in 2011.

As you can see from the graphic below the percentage of Australians who are renting has risen in all capital cities other than Perth during the last 5 year Census period:

Source: Census Data The Australian Financial Review