Aussies can’t afford $20 hike to weekly rent or mortgage

A mere $20-a-week increase in rent or mortgage payments would push three in four Australians to cut back, with some unable to afford essentials such as food, medication and bills, a damning new report reveals. The Everybody’s Home findings spotlight the extent of the nation’s housing stress, with one in four respondents fearing they could become homeless if housing costs continue to rise over the next year. Its comes as housing and cost-of-living pressure continue to bite with a recent fourth interest rate of the year that has taken the cash rate to a 15-year high of 4.6 per cent. The ‘No Room to Move’ report surveyed 1,150 people including renters, homeowners, and those experiencing homelessness or living in temporary housing between July and September, finding three in four (76 per cent) would have to make sacrifices to their budgets and way of life if their rent or mortgage rose by $20 a week. MORE: ‘A choice’: Brutal Centrelink reality for millions of Aussies A new survey has found three in four (76 per cent) of Aussie respondents would have to make sacrifices to their budgets and way of life if their rent or mortgage rose by $20 a week Picture: NCA NewsWire / Gaye Gerard Given...