Community
14 August, 2024
Rent a third of income
MORE than a third of rental households in Douglas Shire were paying more than 30 per cent of their income on rent.
According to the Douglas Shire Council’s local housing plan in 2021, 36 per cent of the 1409 rental households in Douglas Shire were paying more than 30 per cent of their income on rent.
“The Daintree area is experiencing higher rates of housing stress, and falls within the highest bracket of rental stress,” the plan said.
“This area is ranked as the seventh most distressed area among 38 areas in Far North Queensland.
“Douglas Shire is also characterised by a relatively high proportion of households in mortgage stress relative to the regional state average, with 14 per cent of mortgage households in Douglas Shire facing housing stress.
“There has been a significant shift in the housing landscape since 2021, with increases in rental prices typically outpacing wage growth, meaning that the true rate of housing stress may be higher than what was reported in the 2021 Census.”
The plan said in December 2023, SQM Research reported a median weekly rental price of $754 for three-bedroom houses in Port Douglas, Craiglie, Oak Beach, Killaloe, Wangetti and Mowbray, representing a three per cent increase from December 2022, and a 12 per cent annual change over three years.
“The median weekly rental price for a unit was $505.85. This reflects a 5.1 per cent increase from December 2022, and a 13.4 per cent annual change over three years.
“In recent years, the 4873 postcode (Mossman, Daintree, Cape Tribulation, Miallo and other small localities) has experienced rising property prices, increasing rental prices (with the median at $535 per week in December 2023 compared to $414 in December 2022), and minimal stock available for rent or purchase.
“According to SQM Research, record average weekly rents have been recorded of $941 across all houses in Port Douglas in June 2024, and $618 across all houses in November 2023 for the 4873 postcode.”