RISING rents and mortgage repayments are outstripping household incomes in Wyndham.
Census data shows that between 2006-11 the median household income in Wyndham rose 13per cent, from $1257 to $1424 a week.
But median weekly rent payments climbed 51per cent, from $185 to $280. Median mortgage repayments rose from $1300 to $1800 a month, an increase of 38per cent.
Wyndham City Salvation Army said the gap between incomes and rent or mortgage repayments was forcing more residents into financial difficulty.
Community support services manager Sue Brookshaw said some families were losing their homes because they couldn’t meet payments.
The Salvos had also noticed an increase in people sharing accommodation because they couldn’t afford to rent alone.
“We’re seeing more people asking for assistance to meet rent and mortgage repayments but we don’t have funding for that. What we try to do is help provide food to offset the cost.”
Point Cook Real Estate director Peter Gaidzkar said rising demand had driven property prices higher.
“Rents and mortgage repayments have increased over time as demand has increased, but in the past 12 months it’s become slightly more affordable again.”
Mr Gaidzkar said demand would stay strong as first home buyers continued to look to suburbs like Point Cook. -Laura Little and Nick Toscano
