LOCAL ISSUES
quarter. Rental Affordability Index (RAI) scores of 100 and less indicate that households spend 30% or more of their income on rent and are at risk of experiencing housing stress. The index has dropped 7% in the past year. The least affordable suburb in regional Qld is Eumundi where a median rental of $1,050 week costs 58% of the average regional Qld rental household income.
Eumundi rents top list Regional Qld is now the most unaffordable place in Australia to rent a home with low-income households bearing the brunt of the crisis according to the annual National Shelter-SGS Economics and Planning Rental Affordability Index. The index uses the average weekly household earnings of each geographic region and the median rental price of dwellings for which bonds were lodged in that region for a given
“I’m not sure how they’ve come up with a median rent of $1,050 for Eumundi when other real estate data websites indicate a median rent of anywhere between $650 and $765 per week,” said Olivia Dolan from Noosa Hinterland Realty Eumundi. “There is no question rentals have increased and there is a shortage of properties. Your standard four-bedroom home (not brand new) in town increased from being in the $500s per week prepandemic to now being in the $700s per week. “We have had some long-term tenants experience large increases but those properties were now under-rented and even those large increases upon lease renewal are fewer in number now. We have found an increase in negotiating at the time of lease renewal to ensure the continuation of the tenancy. “We have tried hard to find our current tenants whose properties are being sold or owneroccupied other rentals to keep them local – sometimes pre-advertising.” Nearby areas Wurtulla beach, Coolum beach, Tewantin, Cooroy and Noosa Heads have all been classified as severely unaffordable compared to moderately unaffordable or acceptable in 2020.
WE ARE BACK!
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