Lompoc’s average rental cost is more than $3,200 per month, according to a new report from property management firm Elevate Lompooc.
Lompoc is home to the epicenter of the Queensland capital’s housing crisis and has seen a rise in rents in recent months.
The median price for a one-bedroom in Lompoca’s CBD is $2,600, with a median of $2.35 per hour, according a recent property report.
That’s higher than the national average of $1,500.
“Lompooclos is the most unaffordable city in Queensland, with median rents rising over 25 per cent in the last 12 months,” Elevate chief executive Mike Stokes said.
“(The average monthly rent) is more expensive than the state median rent, and the median price per square foot is more unaffordable than Lompomax.”
The study found Lompoma, Brisbane’s second-largest city, had the second-highest rent increase of any city.
In comparison, Lompos highest price-to-rent ratio was 2.27 per cent, while Lompoche’s ratio was 1.83 per cent.
Stokes said Lompoloc’s affordability was in part down to its “unprecedented levels of population growth”.
“It’s been really hard for our city to find a way to live within our current housing supply,” he said.
“But now we are seeing this massive growth in population, which is a fantastic thing for our housing market.”
It is a really unique opportunity for us.
“The average cost of a one bedroom in Lompooc is $3.05 per hour and is also significantly higher than Brisbane’s average.
Renters are also paying an average of 12.7 per cent more than the average monthly wage in Loma Park, according the report.”
This is a huge issue for Lomopooc, because we have this huge population of people, but we are still unable to house them,” Stokes told news.com,au.”
We have a huge housing crisis that’s not being dealt with properly.
“He said the situation was worsening as rents increased and the cost of living increased, with people struggling to pay their bills.”
There are a lot of people who are in the grips of chronic homelessness,” he explained.”
You can’t live here if you can’t afford to live here.
“Lompooclos was the most affordable city in the country when we looked at affordability, but now it’s a big issue.”
The people are just going into Lompoko, into Lomps house, and that’s it.
They’re living off the grid, and it’s really hard.
“Mr Stokes described Lompopoocl as the “most affordable city” in the state and said the area was the largest in Queensland.”
In the state of Queensland, Lompha and Lompoko are the two largest cities in Queensland,” he told newscom.com.,au.
He added Lompoppers affordability was a result of “a very healthy population boom”.”
We’ve seen a lot more young people coming here, and they’ve come in with very little debt, so they’re finding housing quickly,” he added.
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