The Australian rental market is experiencing a significant surge in rental rates for NDIS SDA (Specialist Disability Accommodation) properties. With rental vacancy rates at an all-time low, the demand for accessible housing has skyrocketed.
This article explores the causes and consequences of the rental rate increases and highlights the urgent need for government intervention to address the housing crisis.
From our recent articles, we also covered how the government is getting the National Disability Insurance Scheme (NDIS) back on track by improving outcomes for participants and ensuring the sustainability of the Scheme for future generations.
Reforming the agency which delivers the Scheme and ensuring every dollar goes to NDIS participants is an important part of our strategy in the 2023-24 Budget to create more opportunities for more Australians and improve government services.
As a first step, this Budget commits a total of $910 million over four years to improve the NDIS, and support and safeguard people with a disability and the Scheme.
- Rental Vacancy Rates and Price Surge:
According to recent reports, rental vacancy rates in the Hunter region of Australia are at or below 1 percent. This acute shortage of rental housing has led to staggering rental price increases.
Median rents have risen by over 35 percent in the past three years.
The scarcity of available properties has created a challenging situation for individuals with disabilities seeking suitable accommodations.
- Housing Crisis and Increased Demand:
The shortage of rental properties, particularly those that meet the requirements of NDIS SDA, has resulted in a housing crisis. Individuals and families, including those with decent incomes, are being forced to live in inadequate and temporary accommodations.
This situation has led to an increased demand for social housing, exacerbating the existing housing shortage.
- Negative Impacts on Individuals and Society:
The lack of housing security has far-reaching consequences for individuals and society as a whole. The uncertainty of stable housing negatively affects job stability, education, and mental health.
Without a safe and suitable place to call home, individuals with disabilities struggle to access employment opportunities and educational resources, further widening the inequality gap.
- Government Solution and Investment:
To address the housing crisis and mitigate the devastating consequences of homelessness, it is crucial for the government to prioritize housing and homelessness initiatives.
Historically, governments have played a role in building new homes, and the current situation demands immediate action.
Social and affordable housing should be seen as an investment rather than welfare, considering the long-term benefits it can bring to individuals and society.
Conclusion:
The rental rate increases for NDIS SDA properties in Australia are a direct result of the acute shortage of rental housing and the increased demand for accessible accommodations. The housing crisis has had detrimental effects on individuals’ job stability, education, and mental health. Urgent government intervention and investment in social and affordable housing are necessary to alleviate the situation and provide stable and suitable housing for all individuals, regardless of their disabilities.
Call or Email Positive Income Properties, where we will help you buy a property that will deliver life changing income, and help others in their quest for a fit for purpose SDA accommodation.
References:
[1] National Disability Insurance Scheme SDA Pricing Review …
[3] Acute shortage of rental housing is producing staggering …
Gil Elliott is the Managing Director and Founder of Positive Income Properties. Gil has a rich background in business consulting and property investment. All of these he gained in his nearly four decades of experience in the real estate and marketing industries.
