01/12/2025
Here’s one of the top stories from the latest Galah Weekly news round-up. To read our newsletters in full, please head to the link in our profile.
Rent squeeze
Queensland remains the state with the least affordable regional rents, draining more than 30% of the average income.
The SGS Economics snapshot of the national rental market shows even regional areas with strong employment growth such as Toowoomba, Rockhampton, Cairns and Townsville remain unaffordable for most renters.
The report shows rental affordability has declined again in the past year. Regional SA is one of the few states that offers what could be considered affordable rents.
It also shows parts of regional NSW, particularly on the coast, are comparable to Sydney for low affordability.
Meanwhile, home buyers are still feeling the pinch. Property research firm Cotality has found Australian households are spending twice as much of their income to service mortgages compared with five years ago.
Image - Bare Earth 2, one of a series of paintings by WA artist capturing the human impact of drought.