Published Monday, 14 January, 2008 at 09:00 AM
Minister for Public Works, Housing and Information and Communication Technology
The Honourable Robert Schwarten
RENTS UP 10% IN 12 MONTHS: SCHWARTEN
Figures released by the Residential Tenancies Authority show the median rent for a two bedroom unit in Queensland had increased by 10% in the past 12 months while the cost of a three-bedroom house rose 11.1%, Housing Minister Robert Schwarten said today.
“In the December quarter of 2006, the median rent on a two-bedroom unit in Queensland was $250 per week, for the December quarter 2007 it was $275,” Mr Schwarten said.
“The median rent for a three-bedroom unit in December quarter 2007 was $300 per week, in the same period in 2006 it was $270.”
Mr Schwarten said that over five years the median rent for a two-bedroom unit had skyrocketed 66.7% while the cost of renting a three-bedroom house had leapt by 53.8%.
The data is based on new bonds lodged with the RTA.
Mr Schwarten said the central and north western areas of the state had recorded the biggest increases.
“The median weekly rent for a two-bedroom unit in North West Queensland skyrocketed 57.9% in the past 12 months ( $190pw to $300pw) while in Central Queensland the cost increased from $120 to $160 per week, an increase of 33.3%,” he said.
“If you take the figures over five years the central west has seen a jump of 128.6%, North West Queensland 114.3% and Mackay 92.3%.”
Mr Schwarten said the figures showed low income earners were not getting any relief from ever-increasing rents.
“As rents continue to increase, the more pressure is put on the budget of low income-earning families who have to cut back to their bare essentials just to keep a roof over their heads,” he said.
“For some low income earners, the increases simply cannot be covered and they are forced to abandon the private market which has created a flow-on effect for the Department of Housing in the form of an increased demand for social housing.”
Mr Schwarten said he looked forward to working with the Rudd Federal Government on the issue of housing affordability in the private rental market.
Media contact: Scott Chandler on (07) 3237 1832
EDITOR'S NOTE: For a copy of the statistical tables showing the median rents in major centres and statistical regions, please call the media contact or email Scott.Chandler@ministerial.qld.gov.au.
“In the December quarter of 2006, the median rent on a two-bedroom unit in Queensland was $250 per week, for the December quarter 2007 it was $275,” Mr Schwarten said.
“The median rent for a three-bedroom unit in December quarter 2007 was $300 per week, in the same period in 2006 it was $270.”
Mr Schwarten said that over five years the median rent for a two-bedroom unit had skyrocketed 66.7% while the cost of renting a three-bedroom house had leapt by 53.8%.
The data is based on new bonds lodged with the RTA.
Mr Schwarten said the central and north western areas of the state had recorded the biggest increases.
“The median weekly rent for a two-bedroom unit in North West Queensland skyrocketed 57.9% in the past 12 months ( $190pw to $300pw) while in Central Queensland the cost increased from $120 to $160 per week, an increase of 33.3%,” he said.
“If you take the figures over five years the central west has seen a jump of 128.6%, North West Queensland 114.3% and Mackay 92.3%.”
Mr Schwarten said the figures showed low income earners were not getting any relief from ever-increasing rents.
“As rents continue to increase, the more pressure is put on the budget of low income-earning families who have to cut back to their bare essentials just to keep a roof over their heads,” he said.
“For some low income earners, the increases simply cannot be covered and they are forced to abandon the private market which has created a flow-on effect for the Department of Housing in the form of an increased demand for social housing.”
Mr Schwarten said he looked forward to working with the Rudd Federal Government on the issue of housing affordability in the private rental market.
Media contact: Scott Chandler on (07) 3237 1832
EDITOR'S NOTE: For a copy of the statistical tables showing the median rents in major centres and statistical regions, please call the media contact or email Scott.Chandler@ministerial.qld.gov.au.