RAI November 2018
The Rental Affordability Index (RAI) is a price index for housing rental markets. It is an easy to understand indicator of rental affordability relative to household incomes and is applied to geographic areas across Australia.
National Shelter, Community Sector Banking, SGS and Brotherhood of St Laurence release the RAI on a biannual basis.
With a RAI of 144, rental affordability in Greater Perth has remained stable. The median rental household in Greater Perth faces rents costing about 21 per cent of their total income. This is considered acceptable. Despite this, rental property remains much less affordable for lower-income households.
In response to the findings, Shelter WA Chief Executive Officer Michelle Mackenzie said: “While rental affordability has improved for median-income households, when we look at low-income tenants renting in Perth they continue to face a general lack of affordability – especially single pensioners, women in private rental and other low-income households. There is a critical need to look at rental subsidy options, such as Commonwealth Rental Assistance, as a response along with increasing more diverse, affordable rental housing options."
Read the full report here.
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