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Rental stress is on the rise, according to new research. Picture: AAP/Mick TsikasFORGET mortgage stress, rental stress is now the biggest concern in Queensland, with nearly 13 per cent of households spending 30 per cent or more of their income on rent.Low income earners in the city are the hardest hit, with new data showing there is only one suburb in southeast Queensland where a single person earning the minimum wage could afford to rent a unit without going into rental stress.An analysis of median rent prices for units across Australia by realestate.com.au shows that most lower-income earners are experiencing rent stress, with prices far higher than the minimum wage.Rental stress is defined as when someone spends more than 30 per cent of their income on rent.This analysis compares the minimum wage with median rent prices from realestate.com.au/rent for the 12 months to May 31, 2017.Only four suburbs in all of greater Brisbane, Melbourne, Sydney, Canberra, Perth, Adelaide and Hobart had median rental prices for units that equalled less than 30 per cent of the minimum wage after tax.In Kooralbyn, 70km from Brisbane, the weekly median rental price for a unit is $180 a week, which means a low-income earner would spend 28.6 per cent of their income on rent.This unit in Kooralbyn is available for rent. Picture: realestate.com.auThe next most affordable place to rent in southeast Queensland for one person on the minimum wage is Laidley, 83km west of Brisbane, according to realestate.com.au, with the median weekly rent coming in at $215.Even then, 34 per cent of income is required to be paid to the landlord.Bayside babe blasts to $1m saleBeachside pad sells for top dollarWould you pay $1m for this?This unit at 3/387 Webster Rd, Stafford Heights, is available for rent. Picture: realestate.com.auIn the north Brisbane suburb of Stafford Heights, renters are paying $228 a week in rent on average, which means a low-income earner would spend 36 per cent of their income on rent.This unit at 36/5 Judith St, Flinders View, is available for rent for $240/week. Picture: realestate.com.auFlinders View in Ipswich and Park Ridge in Logan are the next most affordable, with low-income earner’s spending 38 per cent of their income on rent in these areas.Andrew Rechtman, executive general manager residential at realestate.com.au, said he expected Sydney and Melbourne to be largely unaffordable for low-income renters, but didn’t expect rental rates in other capital cities to be as prohibitive.“That’s what shocked us I think,” Mr Rechtman said.More from newsMould, age, not enough to stop 17 bidders fighting for this home3 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor3 hours ago“Clearly, affordability is beyond reach for lots of people renting even in the outer suburbs of Brisbane.”This unit at 6/77 Pine Mountain Rd, North Ipswich, is available for rent. Picture: realestate.com.auDouble minimum wage households fare better, according to realestate.com.au, with dual minimum wage earners in Brisbane able to afford the weekly median rent price for a unit in 142 suburbs.“If you put two minimum wage earners together, you get more bang for your buck,” Mr Rechtman said.“It doesn’t hurt to live with someone to share expenses.”This month, the minimum wage in Australia rose to $18.29 an hour, which equates to $694.90 a week, but welfare groups say that increase won’t make up for the rent rises seen in most cities over the past five years.According to Anglicare, just 12 per cent of properties in Brisbane are affordable for a couple both on the minimum wage with two children under 10.That’s a low number compared to Adelaide, where 41 per cent of properties are affordable.GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HEREThe 2016 Census found Queensland had seen a significant shift towards renting, with 34.2 per cent of us now paying a landlord, up from 33.2 per cent in 2011, and higher than the national average of nearly 31 per cent.The median weekly rent in Queensland has risen to $330 from $300 five years ago.As a result, more Queenslanders are under rental stress, with 12.8 per cent of households requiring 30 per cent or more of their income to pay the rent.That’s up from 11.9 per cent in 2011 and greater than the national average of 11.5 per cent.This apartment at 611/6 Land St, Toowong, is available for lease for $425/week. Picture: Space Property Agents.Space Property Agents executive leasing new business manager Jennifer Grainger agrees renting in Brisbane is expensive.“Rents are lower in Brisbane than in Sydney and Melbourne but our cost of living is still very high and wages aren’t as high so a lot of rental prices are still very high in Brisbane,” she said.Ms Grainger said tenants were increasingly looking around for a better deal, but she warned of the hidden costs that can be involved in moving.This apartment at 611/6 Land St, Toowong, is available for lease for $425/week. Picture: Space Property Agents.She said landlords were going to great lengths to attract and retain tenants, such as making improvements to their properties, getting professional photographs taken and offering incentives.Space Property Agents is currently advertising an apartment for rent in the Landmark building in Toowong for $425 a week, with the landlord offering one week rent-free and 30 days free internet.Follow Liz Tilley on Twitter @liztilley84Rental affordability in southeast Queensland on one minimum wage. Source: realestate.com.au
Bermuda-based shipping group Teekay Corporation has entered into an agreement to extend the employment of the Petrojarl Banff FPSO unit in the North Sea for a period of one year.Under the deal with a subsidiary of Canadian Natural Resources (CNR), the FPSO unit will continue working on the Banff field until the end of August 2020.The company said that the contract was agreed at substantially similar terms to the current deal, which includes an upside component linked to oil prices and oil/gas production.“We are pleased to announce this important FPSO contract extension for the Petrojarl Banff, which extends the production of the fields in the North Sea, and we are committed to work together with CNR to maximize production in the future,” Kenneth Hvid, Teekay’s President and Chief Executive Officer, said.
The IndyCar Detroit Grand Prix also can be streamed live via fuboTV. New fuboTV users can sign up with a seven-day free trial.Throughout the season, INDYCAR Pass will provide live streams of all IndyCar practice and qualifying sessions. The service also will provide same-day replays of IndyCar races, live streams of Indy Lights races and more.IndyCar Grand Prix 2019 track scheduleFriday, May 31TimeSeriesEvent8:30 a.m. ETIMSAPractice 110:15 a.m. ETTrans Am SeriesPractice 110:55 a.m. ETIndyCarPractice 111:55 a.m. ETTrans Am SeriesPractice 212:40 p.m. ETIMSAPractice 22:50 p.m. ETIndyCarPractice 23:50 p.m. ETIndyCarPit stop practice4:35 p.m. ETTrans Am SeriesRace 1 qualifying5:20 p.m. ETIMSAQualifyingSaturday, June 1TimeSeriesEvent8:20 a.m. ETIMSAWarm-up9:15 a.m. ETTrans Am SeriesRace 110:45 a.m. ETIndyCarRace 1 qualifying12:30 p.m. ETIMSARace3 p.m. ETIndyCarRace 1Sunday, June 2TimeSeriesEvent10:45 a.m. ETIndyCarRace 2 qualifying11:45 a.m. ETTrans Am SeriesRace 23 p.m. ETIndyCarRace 2 The 2019 NTT IndyCar Series season continues Saturday, June 1 and Sunday, June 2 with the Chevrolet Detroit Grand Prix doubleheader, the seventh and eighth races of the IndyCar season, set to take place on the streets of Detroit. Just like it was last week, NBC is the TV channel that will broadcast the races on Saturday and Sunday. The start time for Saturday’s IndyCar race in Detroit is 3 p.m. ET, and the start time Sunday’s race is also 3 p.m. ET.The IndyCar Detroit Grand Prix became a doubleheader back in 2013. Race 1 and Race 2 on Saturday and Sunday, respectively, are both points-paying races and are set with separate qualifying sessions. Both races will run on the 2.35-mile, 13-turn temporary street circuit on Detroit’s Belle Isle. MORE: Watch the Detroit Grand Prix live with fuboTV (7-day trial)Graham Rahal, who drives for Rahal Letterman Lanigan Racing in 2019, is the only driver who has won both Detroit Grand Prix races (2017) since the event became a doubleheader six years ago. The driver of the No. 15 Honda sits 12th in the current IndyCar points standings. Last year’s Detroit Grand Prix winners were Scott Dixon and Ryan Hunter-Reay.Below is all the info you need regarding how to watch the 2019 IndyCar Detroit Grand Prix doubleheader.When is the IndyCar Detroit Grand Prix doubleheader 2019?Dates: Saturday, June 1 | Sunday, June 2Times: 3 p.m. ET (Saturday and Sunday)TV channel: NBC (Saturday and Sunday)Live stream: fuboTV (7-day free trial) | INDYCAR PassDetroit Grand Prix TV scheduleBoth races of the 2019 IndyCar Detroit Grand Prix doubleheader will be broadcast live on NBC, marking them the second and third ever IndyCar races to be shown on the cable network after last week’s Indy 500. It’s part of NBC’s TV contract, which splits the IndyCar season coverage between two networks, NBC and NBCSN.Of the 17 IndyCar races on the schedule for 2019, eight, including both races in Detroit, will be broadcast on NBC, and nine will air on NBC Sports Network. NBC will offer additional coverage of IndyCar practices and qualifying sessions on its NBC Sports Gold app.NBC’s coverage of IndyCar races in Detroit on Saturday and Sunday will begin at 3 p.m. ET both days.Below is the full NBC broadcast schedule for all IndyCar events this weekend in Detroit.Day, timeEventHow to watchFri., 10:55 a.m. ETPractice 1NBC Sports GoldFri. 2:50 p.m. ETPractice 2NBC Sports GoldFri., 3:50 p.m. ETPit stop practiceNBC Sports GoldSat., 12 p.m. ETRace 1 qualifyingNBCSN/fuboTV (tape delay)Sat., 3:50 p.m. ETRace 1NBC/fuboTVSun., 10:45 a.m. ETRace 2 qualifyingNBCSN/fuboTVSun., 3:50 p.m. ETRace 2NBC/fuboTVIndyCar Detroit Grand Prix live streamIndyCar Grand Prix practice sessions on Friday, plus the live broadcast of Race 1 qualifying on Saturday morning, can be streamed via INDYCAR Pass on NBC Sports Gold. As for qualifying and the races themselves, live-stream presentations can be found on NBCSports.com and the NBC Sports app.