Yahoo Finance JobSeekers cop hour commutes for affordable rentals
JobSeekers will need to give up centrality for affordability, new Domain rental research has shown, with the most affordable suburbs in Australia’s largest capital cities more than an hour from their CBDs.
In Sydney, the Central Coast suburb of Toukley is the most affordable suburb for rentals, with the median weekly asking rent $270.
Toukley is more than 90 kilometres from Sydney’s CBD, and nearly three hours via train or just over one hour via car.
The new JobSeeker rate coupled with rent assistance leaves Aussies receiving the supplement with $478 per week – meaning they would have just $208 left for the week once rent is removed.
The Melbourne suburb of Albion is the most affordable suburb for rentals, with the median weekly asking price at $265.
It’s just 15 kilometres from the Melbourne CBD, or around 30 minutes via car. JobSeekers renting in this area would have around $213 left after deducting rent from their weekly pay.
The second-most affordable suburb is Mornington Peninsula at $280 per week in rent. However, JobSeekers would need to sacrifice more than an hour of their time to drive the 75 kilometres to the CBD.
All JobSeekers would however be forced into rental stress, which is defined as spending more than 30 per cent of your income on rent, Domain research analyst Nicola Powell said.
The JobSeeker boost was extended to December, but slashed by $300, meaning the new rate would become $815.70 per fortnight after September, down from the current rate of $1,115.70.
The top 10 most affordable suburbs for JobSeekers in Sydney
The top 10 most affordable suburbs for JobSeekers in Melbourne
