Private rental stress and mortgage stress in Fairfield’s local government area are the worst of all Sydney suburbs, new research has discovered.
Fifty-one per cent of renters in Fairfield were experiencing private rental stress, while 34 per cent of owner occupiers suffered mortgage stress, Australians for Affordable Housing (AAH) has said.
AAH campaign manager Sarah Toohey said, “Areas such as Canterbury, Strathfield, Liverpool and Bankstown all have rates of housing stress over 20 per cent.”
Housing stress is identified as when households spend more than 30 per cent of their income on housing costs and in Sydney it is at its highest in Auburn (28 per cent).
Rental stress was also found to be high in the local government areas of Auburn (44 per cent), Canterbury (46 per cent) and Bankstown (44 per cent).
Mortgage stress in Auburn is 33 per cent, and in Canterbury 28 per cent.
“We need collective action at all levels of government to ensure that we fix our broken housing system, and take the pressure off families struggling with high housing costs and lack of affordable options,” Ms Toohey said.
Comparative AAH and Australian Bureau of Statistics data revealed that housing costs have increased 43 per cent in NSW over the past six years.