A new report has highlighted just how dire the rental crisis is on the Gold Coast with low-income earners and those on welfare simply unable to afford to live here.
The Priced Out report by Everybody’s Home found the Gold Coast is by far the least affordable city in the entire country, even outranking Sydney.
A single person on the minimum wage would need to spend a whopping 98 per cent of their income to rent on the Gold Coast.
It’s even worse for a single person on JobSeeker with 157 per cent of income going towards rent, while a single person on the age pension is coughing up 115 per cent of their income.
Even a couple on the minimum wage and receiving Parent Payments with two children would be forking out 54 per cent of their income to the landlord.
“The need for drastic reform has become urgent. Without change, the situation facing renters on the lowest incomes will only worsen,” the report found.
“It’s time for the Federal Government to step up and ensure there are affordable homes for those who need them most.”
The report has recommended lifting welfare payments and establishing a Social Security Commission.
It has also called for rental reform, including a limit on unfair rent increases nationwide.
Everybody’s Home is also demanding the phasing out of the capital gains tax discount over the next ten years along with negative gearing.
It also wants the government to lift the social housing target to 940,000 new homes over the next two decades.
