00:00At first glance, it's good news for Canberra renters.
00:06With the Rental Affordability Index that's released today, Canberra looks like it's doing
00:10pretty well compared to the other Australian capital cities.
00:13With an average ACT household spending just under a quarter of its income on rent last year.
00:19Canberra, one of just two capital cities where rental affordability improved, up 4% from last year.
00:26Sydney is also up with Adelaide and Melbourne steady.
00:30Elsewhere though, affordability has dipped with Perth now the least affordable capital.
00:36But a closer look at the data shows high average incomes here in the capital are masking the reality.
00:43With most people with below average earnings struggling to pay rent.
00:48A single part-time worker, parent on benefits, will be likely to be paying about 65% of their income on rent.
00:55Whereas a single person on benefits may be paying as much as 100% of their income on rent.
01:01A hospitality worker in Canberra spends an average of 40% of their income on rent.
01:07While a couple on minimum wage spends about 31%.
01:11The situation is very dire where even average income households are often paying 30% or more of their income on rent.
01:19Which means that they are in a situation of housing stress.
01:22The gap between the higher and lower incomes in the ACT is bigger than in other states.
01:29But targeted measures like rental caps could be starting to make a difference.
01:34It might explain why Canberra is starting to show signs of bucking the national trend.
01:40Rents can still be increased but only by 110% of consumer price index.
01:45And that has just taken out the excessive rent rises in the market.
01:49But how long will it take for the tide to turn before key workers are priced out of the city they serve?
01:55at the same time.
02:02You
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