Queensland housing stress named the worst in the country as QCOSS reveals dire strain on Australia’s housing

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Queensland appears to be suffering from the worst housing market situation in the country, with economists warning that renters and first-time home buyers are facing the “hard edge” of a hostile housing market.

A new report from the Queensland Council of Social Services (QCOSS) reveals that the Sunshine State has seen higher house prices and rental rates than the rest of Australia since the start of the Covid-19 pandemic.

The research was led by Professor Hal Pawson of the University of New South Wales (UNSW).

The report, titled “Breaking Ground,” found that prices in Brisbane have risen by 65 percent, almost double the average in Australian capital cities (34 percent).

New rents rose significantly by 45 percent during the same period.

Since 2020, the number of new rentals at affordable rates for low-income households across the state has fallen from 23 percent to 10 percent.

In March of this year alone, less than one percent of all available rental apartments were affordable for a single person on minimum wage.

The report found that the number of residents requiring homeless assistance has increased by 34 percent over the past five years.

It also became clear that more and more families were using these services and some of them were forced to live in tents, cars or motel rooms due to the lack of affordable housing.

Professor Pawson said the current housing market situation was hitting renters and first-time buyers hard.

“Given the current state of the market, it is renters and first-time buyers who will be most affected,” said Professor Pawson.

“Unfortunately, for some, the conditions can mean they are driven into homelessness.”

In response, QCOSS has renewed its call for state and federal governments to do more to address the problem.

The organisation is calling on both political parties to commit to long-term, evidence-based plans – including increasing the supply of affordable and social housing across Queensland.

They are also calling for a cap on rent increases and the closing of legal loopholes to prevent unjustified evictions.

Figures from Domain show that asking rental prices in capital cities rose by 10.5 percent last year.

As of March 2024, the average rental price for a house in Australian capital cities will be $630 per week.

The average rental price for an apartment in the capital cities is $620 per week. In rural Australia, the average rental price for a house is $540 per week.

Read related topics:Brisbane

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