2023's National Worst 20 Suburbs for Renters: A Suburbtrends Report

2023's National Worst 20 Suburbs for Renters: A Suburbtrends Report

Introduction:

As the Australian property market continues to evolve, certain suburbs present significant challenges for renters. Suburbtrends' latest analysis identifies the national worst 20 suburbs for renters in 2023. This report is pivotal for tenants, housing advocates, and policymakers to grasp the difficulties in these areas, marked by high rents, rapid increases, low affordability, and undesirable conditions. This eye-opening analysis sheds light on the pressing issues facing Australian renters today.

Suburb Analysis:

1. Bongaree – High rents and a 7.5% increase over the past year make affordability a serious concern, with a 63% affordability index.
2. Noosaville – Notorious for its steep rents ($950 for houses), coupled with a 9.7% increase, posing substantial challenges for average renters.
3. Coombabah – A 7.1% increase in rent and a 59% affordability index indicate a tightening market, hard on the wallet.
4. Banora Point – Its 2.7% rent increase and a 59% affordability index for houses highlight the mounting pressures on renters.
5. Mermaid Waters – Renters face a tough market with house rents at $1,100 and a significant 17.7% annual increase.
6. Runaway Bay – With rents at $950 and a 7.1% increase, affordability issues are escalating for many tenants.
7. Nambucca Heads – A 6.7% rent increase and a 58% affordability index suggest a challenging environment for renters.
8. Tweed Heads – Experiencing a 2.7% increase in rents and a 58% affordability index, making it less attractive for renters.
9. Tewantin – The suburb sees a 9.7% increase in rents, coupled with a 54% affordability index.
10. Haymarket – Marked by its high rents ($1,050 for units) and significant 25.8% annual increase.
11. Burleigh Waters – Facing a substantial 17.7% increase in rents, affordability is a growing issue.
12. Labrador – A 7.1% increase in rents and a 52% affordability index point to a tight market.
13. Golden Beach (Qld) – Renters are pressured with a 3.8% increase and a 52% affordability index.
14. Forster (NSW) – The 5.8% rise in rents and a 56% affordability index show a challenging scenario.
15. Benowa – High rents ($1,050 for houses) and a 17.0% increase exacerbate the affordability crisis.
16. Carrara – With a 4.2% increase in rents and a 51% affordability index, the strain on renters is evident.
17. Kingscliff – A 2.7% rise in rents and a 54% affordability index reflect the harsh realities for tenants.
18. Matraville – Remarkably high rents ($1,425 for houses) and a 27.3% increase pose severe affordability issues.
19. Urangan – A 6.0% rent increase and a 49% affordability index suggest a tough market for renters.
20. Mandurah – The 13.3% increase in rents and a 48% affordability index make it a challenging suburb for renters.

Conclusion:

The 2023 landscape of the Australian rental market shows distinct challenges in specific suburbs. This Suburbtrends report on the national worst 20 suburbs for renters underscores the importance of awareness and advocacy in addressing the issues faced by renters. It highlights the need for informed decisions, whether you're a tenant seeking a rental or a stakeholder in the housing sector.

Download the Free PDF Today for an in-depth understanding of these challenging rental markets and stay ahead in the complex world of Australian real estate.