No relief in sight for renters
IT'S the news many battlers on Struggle Street here on the Coffs Coast probably didn't want to hear.
But a report released over the weekend says an increase in public housing under the Federal Government's stimulus package is unlikely to help alleviate rising rents.
The NSW Government's rent and sales report shows median rents for two-bedroom homes jumped by 11.4 per cent from $350 to $390 a week last year, while the median rent for three bedroom homes rose 10 per cent from $350 to $385 a week.
Finding good rental properties in this part of NSW is tough.
Every week we hear of another family struggling to locate suitable accommodation.
And apartment renters appear to be hardest hit with a 14.3 per cent rent increase over the past year.
And we read there's little immediate relief in sight with only 370 new medium- and high-density homes approved in NSW in January of this year.
That equates to a scary 64 per cent drop on the previous year.
The shortages will only see rents rise - and that will worry many.
Ironically, thanks to new first home buyer grants, it is now cheaper to buy.