Logan continues to be one of the hardest hit rental regions in Australia, with Suburbtrends latest Rental Pain Index report showing almost 70 per cent of suburbs are in “crisis”.
The report was compiled using a “rental pain index” based on suburb data like rental increases, affordability and vacancy rates, and then scored on a scale of 1 to 100, with 100 signifying the worst conditions for renters.
Kingston and Waterford West took out the top spot in Logan with rental pain scores of 100.
Suburbtrends founder Kent Lardner said Logan was facing “tough times”.
“Our study shows a worrying 68 per cent of local suburb groups are in crisis, each scoring 75 or higher on the Rental Pain Index,” Mr Lardner said.
“Over the last year, rents in the Logan – Beaudesert region have gone up by over 13 per cent on average – this hike is pushing many families into tighter financial corners.
“Our data shows that about half of the renters now may need to spend 30 per cent or more of their income on rent, and since this study uses average income numbers from the census, the real picture could be worse, as renters usually earn less than average.”
He said with such a low vacancy rate in Logan, rent prices would remain high due to “the classic issue of high demand meeting low supply”.
“This problem is causing prices to go up, especially in places like Regents Park – Heritage Park; Cornubia – Carbrook; Wolffdene – Bahrs Scrub, and Flagstone (East) – Riverbend,” Mr Lardner said.
“The local people need to make sure they’re not overlooked – it’s time to stand up and speak out.
“This rent issue is likely to get worse in the near future, but communities that come together to address it will have better chances of improving the situation.”
