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Lack of rentals causing housing stress in Newcastle

02 Feb, 2010 03:00 AM
A LACK of affordable rental accommodation in Newcastle is placing a growing number of low- and moderate-income earners under housing stress, a report has found.

Newcastle City Council will receive a report tonight from its Building Better Cities Housing Management and Development Committee.

The document tracks city housing trends and the committee's business plans.

The committee is one of the council's main housing advisory sources and members include state and local government representatives, housing services and building advocacy groups.

The report said 50 per cent of all low- to moderate-income households renting privately in Newcastle were in housing stress.

This means the cost of housing is high, relative to household income.

Novocastrians were, on average, spending more than 30 per cent of their income on rent or mortgage payments, the report said.

Single-person households represented the largest proportion of rental households in housing stress (77.9 per cent), ahead of single-parent homes (14.9 per cent).

"This suggests that the private rental market in Newcastle is not providing for the needs of lower income households, in particular small single-person households," the report said.

Discouraged buyers remaining in the private rental market and "lifestyle renters", who could afford home ownership but chose not to buy, were compounding low-income renters' difficulties.

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Date: Newest first | Oldest first
Haven't Kevin Rudd and Kristina Keneally promised action on housing affordability? Must just be another empty Labor promise. Even if there were thousands of evicted homeless victims of the housing crisis many would compound the futility of the situation by again voting Labor rather than Independent.
Posted by Michelle, 2/02/2010 4:01:59 AM, on The Herald
Does the report recommend that all tenants rents should double. This is the only real long term answer as the ownership of rental property is simply not viable.
Posted by Bigfeller, 2/02/2010 7:19:27 AM, on The Herald
One would assume that the people under mortgage stress that this article refers to aren't the same people that continually oppose new development in Newcastle. Possibly the people that oppose development don't read articles such as this one.
Posted by jaga, 2/02/2010 7:35:11 AM, on The Herald
Investors are abandoning the rental market in their droves. Does any govt dept know why???... or care less??
Posted by edgie, 2/02/2010 1:01:40 PM, on The Herald
We need more public housing.
Posted by Den Isles, 2/02/2010 3:27:35 PM, on The Herald
edgie. people are abandoning the rental market as investors because the State Government keeps taxing them like blue murder. Vendor tax gone but the damage remains (thanks Bob Carr). Land tax adds $40 a week minimum to rents and this is a state govt tax too. Insurance premiums to cover the lawlessness in NSW and damage done by bad tenants adds more to rent.
Posted by GeorgeJ, 3/02/2010 12:32:11 PM, on The Herald

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