Hobart has leapfrogged Sydney to become Australia’s least affordable city according to new figures, as city renters continue to struggle. The latest Rental Affordability Index (RAI) shows that Hobart has overtaken Sydney to become the least affordable capital city, followed by Adelaide, Brisbane, Melbourne, Canberra and Perth.
Older Australians are falling off the housing ladder and face spending their retirement as renters, with the situation expected to worsen for coming generations. Senior Australians in the private rental market are “at much greater risk of financial stress than home owners, or those in public housing”, according to the Grattan Institute’s recently launched Grattan Retirement Incomes Model. Older