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Rental affordability at crisis point for low-income families The Guardian 4 days ago Greg Jericho AAP Over the past decade, while the minimum wage has risen 31%, and inflation has gone up 27%, rents have soared 48%. The eighth annual rental affordability snapshot released by Anglicare on Wednesday reveals that, for those on welfare payments and the minimum wage, rental affordability remains at crisis point. While much of the talk in the run-up to the budget has been about the affordability of buying a house, the snapshot is a strong reminder of the inadequacy of welfare payments such as Newstart and the desperation many low-income families face just trying to find a roof to live under. Related: Rent virtually unaffordable for those on low incomes or welfare, survey finds On Tuesday the latest consumer price figures showed that while inflation growth jumped a little bit to 2.1%, rental price growth at 0.6% remains the lowest it has been for more than 20 years. This slowing of rental price growth is the main driver behind the findings of the latest Anglicare rental affordability snapshot, which show that rental affordability for couples on the minimum wage has improved ever so slightly Doctor home loans over the past year. Since the middle of 2014 rental prices across Australia have on average been rising slower than the minimum wage and, since the end of 2015, they have been rising slower than overall inflation: But while this does help low-income families, it has done little to undo the massive doctor home mortgage loan Oak Laurel www.oaklaurel.com.au 0430129662 rent price increases of 2007 to 2012. Over the past decade, while the minimum wage has risen 31%, and inflation has gone up 27%, rents have soared 48%. It is much less affordable to rent now than it was a decade ago: But one problem with looking at rental prices across the nation is that rents perhaps even more so than house prices are greatly affected by local conditions. The best example is the difference between Sydney and Perth over the past 15 years. During the boom periods, Perth and Sydney both saw rents zoom upwards but the prices in Perth were much greater.