- Long-term renting has become the new normal for many people.
A 2013 study by the Australian Housing and Urban Research Institute found that around a third of all private renters have rented continuously for at least 10 years and that percentage is likely to have grown.
- More children are living in rental accommodation than ever before.
At the last Census 41.2% of families with dependent children in NSW were renting.
- Many renters are now paying a big proportion of their wage in rent.
The Rental Affordability Index released in November 2016 found that households across Greater Sydney were spending 28% of their income on rent. Households renting in regional NSW were spending 27%.
- 20% of people receiving the aged care pension in NSW now rent and the number is growing.
The Council on the Ageing NSW recently undertook a survey of people aged 50+ living in NSW in private rental accommodation. Almost 50 % of respondents were spending half or more of their income on rent. As homeownership becomes less common, more people will face housing stress and insecurity when they retire.
- Private renters move house more often - and often not by choice.
A 2013 study found that only 13.3 per cent of private renters hadn’t moved over the past five-year period. It also found that 32% of moves in Australia’s private rental sector are forced rather than by choice, compared to only 11% of moves within other types of housing.