Rental stress among Australians aged over 75 has surged 116 per cent since 2013, with experts warning 55,000 older people face potential homelessness without urgent reform.
A new release from Property Council of Australia reveals rental stress for over 75’s is accelerating at nearly twice the rate of population growth.
Data from the Australian Institute of Health and Welfare (AIHW) reveals rental stress among over 75s has surged by 116 per cent since 2013, outpacing this cohort’s population growth of 59 per cent over the same time frame.
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Data from the Australian Institute of Health and Welfare (AIHW) reveals rental stress among Australians over 75 has surged 116 per cent since 2013
The data is prompting the Retirement Living Council (RLC) to renew its call for urgent Commonwealth Rent Assistance (CRA) reform.
“This isn’t a red flag – it’s a siren, and even with CRA, 55,000 older Australians remain in rental stress, while without it, that figure would triple to 180,000,” RLC Executive Director Daniel Gannon said.
“This data reveals a deepening crisis in suburban Australia, where rental stress and housing shortages are colliding with an escalating care challenge for older Australians.”
The AIHW also reveals CRA usage among people aged 65+ has jumped 70 per cent over the same period, confirming older Australians are now the fastest-growing group relying on the scheme to avoid homelessness.
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Daniel Gannon
The RLC is urging the Federal Government to review CRA settings to address this.
“This isn’t a tweak‐around‐the‐edges problem,” Mr Gannon said.
“Rent assistance is broken, outdated and miles behind reality, and every delay is pushing more older Australians towards homelessness.”
Mr Gannon said it is clear that rental stress is growing exponentially every year and the way CRA is currently structured it’s not providing targeted relief where it’s needed most.
“Without meaningful reform, older Australians will continue to fall through the cracks as rents outpace assistance, care needs escalate, and housing shortages deepen.” he said.
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The AIHW also reveals CRA usage among people aged 65+ has jumped 70 per cent
“This is no longer a marginal issue – it’s a national housing and care challenge that demands immediate federal action to prevent more older Australians falling into homelessness.
“At most risk are older women who are the fastest-growing group of people experiencing homelessness in Australia.”
This comes at the same time as mounting pressure for credible alternatives for downsizing to respect retirees preferences with National Seniors Australia identifing stamp duty, agent fees and moving costs as major deterrents with transaction costs often eroding much of the financial gain from downsizers selling.
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