‘Record low’ rental affordability leaving age pensioners with nowhere to go

It’s no secret that Australia is in the grip of a housing crisis, with many struggling to afford rent and others unable to find a place to live. But now, new data has highlighted an even more troubling trend—older Australians are being hit especially hard when it comes to housing affordability.

Findings from Anglicare’s latest Rental Affordability Index reveal a stark reality: just 0.3 per cent of available rentals across the country are affordable for someone receiving the age pension.

The report, which analysed 51,238 rental listings nationwide, found that only 165 properties fell within the affordability range for a single person on the age pension. For couples, the situation is only slightly better, with 0.7 per cent of listings deemed affordable—a record low.

Anglicare Australia Executive Director Kasy Chambers said “people are desperate for action” given the current state of the rental market.

“Older people are being locked out of housing right when they need security the most. This makes it harder to get care at home, and it makes it harder for renters to age in place,” Chambers said.

“Our Rental Affordability Snapshot shows that a person on the Age Pension can afford just 0.3% of rental listings across Australia. That includes the highest rate of rent assistance.

“For couples, it’s 0.7%. That’s a record low, even after years of gloomy results.

“In all, there are 95 electorates across the country that don’t have a single affordable listing for a person on the Age Pension. This should be a massive wake-up call about the depths of the rental crisis.”

COTA Australia Chief Executive, Patricia Sparrow echoed Chambers’ concerns, calling the data “horrifically sobering.”

“We’re in the grips of a housing crisis, and people like older women are right at the epicentre of it, yet our politicians seem intent on all but ignoring the issue,” Sparrow said.

“Older women are one of the fastest growing groups at risk of homelessness. They’re locked out of home ownership and they’re priced out of rentals, which is forcing them onto couches, into dog and cat sitting arrangements and whatever else it takes to keep a roof over their heads.

“Anglicare’s Rental Affordability Index is horrifically sobering reading, but unfortunately the statistics will come as little surprise to Australians, including older Australians, who are living the rental and housing crisis day in and day out.

“No one is saying that solving the problem will be easy, or that there’s a single solution. The crisis among older women has come about as a result of a perfect storm of factors, including decades of gender pay gaps leaving women with insufficient retirement savings, chronic low wages in female-dominated industries, career interruptions for unpaid caregiving, skyrocketing rents pricing fixed-income retirees out of the market and a critical shortage of appropriate public and community housing.

“But we need to start somewhere. The answers are there – we need our politicians to start listening and acting.”