Perth named the least affordable capital city in Australia

Perth has surpassed Sydney as the least affordable capital city in Australia, relative to household incomes. A new report has found residents in Perth and Sydney are spending on average 30 per cent of their income on rent. The Rental Affordability Index report released on Friday has found that low-income workers have failed to keep pace with rental increases over the past four years. In 2020, Perth was the most affordable city by a margin however demand for rentals have gone through the roof as critical workers, miners and health professionals flood in. Rents have increased since 2020 by a factor of around 80 per cent.