Renters 'at greater poverty risk than homeowners'

Monday 24 October 2011

Article by Mozo

Home loans customers may be less at risk of financial hardship than those renting property, it has been claimed.

Renters 'more likely to struggle with bills'

According to Australians for Affordable Housing (AAH), more than 850,000 households in the country are likely to struggle with their budgets once they have paid their housing costs.

Sarah Toohey, AAH spokesperson, commented: "There is an entrenched and significant group of people in Australia who face day-to-day hardship because of their housing costs."

She asserted that having a secure home is the "fundamental building block for everything else we do in life", adding that it is important to implement a housing system that accommodates everyone.

A recent study by the AAH revealed that first home buyers in Melbourne may be more likely to struggle with their housing costs than those that live in Sydney.

However, Sydney has the highest number of people struggling with their bills, with more than 100,000 experiencing difficulties.

This comes after a study by the Australian Council of Trade Unions revealed that people in insecure jobs are more likely to be in a tough housing situation than those with steady positions.

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