Rental price surge increases GC’s homeless crisis

Figures from SQM Research show the average rent for Gold Coast apartments is climbing up to 9 per cent annually.

Rapidly rising apartment rents on the Gold Coast are adding to the city’s housing crisis, according to Kate Colvin, the CEO of Homelessness Australia.

Figures from SQM Research show the average rent for Gold Coast apartments is climbing up to 9 per cent annually.

Ms Colvin, who was visiting the city for the National Homelessness Conference at the QT resort, said rental market pressures were driving Australia’s homelessness emergency.

“The choice of the Gold Coast to host this year’s conference couldn’t be more timely,” said Ms Colvin.

“When we see apartment rents climbing at nearly 9 per cent annually in a region already under housing stress, we’re witnessing exactly the kind of rental market pressure that’s driving Australia’s homelessness emergency.”

Gold Coast apartment rents have surged by an extraordinary 8-9% per annum over the past three years, with all units now averaging $831.91 per week and two-bedroom units reaching $835.35 weekly. The figures show rental increases are far outpacing wage growth and general inflation.

“What’s particularly alarming about the Gold Coast data is that it shows how quickly rental markets can shift beyond the reach of ordinary working people,” Ms Colvin said.

“When 2-bedroom apartments are costing over $835 per week, that’s more than many full-time workers can afford, let alone those on income support or in casual employment.”

More than 400 people attended the three-day National Homelessness Conference at the QT resort in Surfers Paradise and it brought together frontline workers, policy makers, researchers and people with lived experience of homelessness.

The conference was opened by Queensland Housing Minister Sam O’Connor who announced a 20 per cent funding boost to specialist homeless service providers and a $365 million boost for crisis accommodation for the next four years.

Mr O’Connor said the investment into the delivery of frontline housing and homelessness services was vital while the government worked to deliver more housing supply.

“We are working to ease Labor’s heartbreaking homelessness legacy with a stable and credible plan,” Mr O’Connor said.

“We are delivering more frontline housing and homelessness support while we invest in boosting housing supply to help vulnerable Queenslanders who were locked out of a home.”