Sharp housing cost increases are causing more financial strain for people in the Sunshine State.
Queensland's housing and homeless crisis continues to spiral out of control, but the State Government's housing plan offers new hope for tackling the challenge, new research says.
The Queensland Council of Social Services (QCOSS) Breaking Ground report, led by UNSW Sydney Professor Hal Pawson and the City Futures Research Centre at UNSW Arts, Design & Architecture, found increased house prices and new tenancy rents in Queensland have outpaced the rest of Australia since the start of the pandemic.
Brisbane property prices have increased by 65 per cent since 2020, almost double the Australian capital city average (34 per cent). Across the state, new tenancy rents also climbed faster than across the nation, rising by 45 per cent over the same period.
Since 2020, the number of new lettings at rents affordable to low-income households in the state has fallen from 23 per cent to just 10 per cent of all private tenancies. In March this year, less than one per cent of all available rentals were affordable to a single person earning minimum wage.
