The pain keeps coming for renters on the Gold Coast as rental affordability continues to plummet.
According to new data, regional Queensland, including the Gold Coast, is now the most unaffordable place in Australia to rent a home.
Seven out of ten of the most unaffordable suburbs in the south-east are on the Gold Coast with Helensvale leading the pack.
The median weekly rent in Helensvale is now at $840.
This is followed by Bonogin, Burleigh Heads, Broadbeach, Robina, Palm Beach and Ashmore/Arundel with all of these postcodes now deemed severely unaffordable.
National Shelter CEO Emma Greenhalgh says that renters are having to put themselves in rental stress just to keep a roof over their head.
“The situation is even worse for low-income households, many of whom simply cannot afford to rent safely in the private market,” Ms Greenhalgh says.
“From the Gold Coast to Townsville, the shocking plunge in affordability is stark and widespread right across the state.
“Regional Queensland is now categorised as unaffordable, a significant shift from just three years ago when it was categorised as acceptable.”
Renters on the Gold Coast in the most unaffordable areas are forking out 40-46% of their household income on rent.
Across the board, affordability in Queensland excluding Greater Brisbane has dropped 7% in the past year alone.