Regional economies can’t keep copping the fallout from the rental crisis.
Rents in NSW’s Illawarra and South Coast have gone up by almost 42% since 2020, increasing the number of low-income households in rental stress by 20 points to 46%. As a result, workers are being priced out of the area, leading job vacancies in the region to spike up by 113% during the same period.
This reflects about $642 million in lost economic output due to vacant jobs per year in the Illawarra and South Coast.
Soaring rents adding to job vacancies in major regions
The content above from the originating party/author(s) may be of a point-in-time nature and edited for style and length. The views and opinions expressed are those of the original author(s). View original.
AusPol.co Disclaimer