It’s the question every one of us asks as we walk past the Go Get parking bay: should we really have a car languishing in the garage?
Now the Australian Automobile Association’s Transport Affordability Index for the September 2017 demonstrates exactly why the question needs to be faced.
Australian metropolitan households are spending 14.1 per cent of their annual income on transport.
The AAA CEO Michael Bradley says city-based households are paying an average $17,485 per annum – an increase of $191 since the previous index.
“The increases we have seen over the quarter are largely attributable to increases in government fees and charges. It really highlights that transport is a significant and unavoidable cost to households .”
Costs varied significantly between capital cities and regional areas, with results showing that though Sydney remains the most expensive city on price alone – Brisbane was ranked the most expensive for the cost of transport as a percentage of household income.
Key findings included:
- Sydney households spend the highest amount on transport in the nation at $22,350 per annum. However, when average incomes were considered, Sydney moved to third place.
- Melbourne is the second most expensive city for transport in dollar terms – with families paying $19,306 per annum – but ranked fourth when incomes were taken into consideration.
- Regional Australians are paying a national average of $13,883 – accounting for 12.2 per cent of household income.
- Hobart was the second most expensive city for transport costs – as a percentage of household income – closely behind Brisbane. Families in the Tasmanian city could expect to pay 16.12 percent of their incomes to transport costs.