Australia’s peak motoring body has released its latest Transport Affordability Index showing weekly costs have for the first time risen above $400 for the average Australian metropolitan household.
Research from the nation’s peak motoring body shows household transport costs have continued to rise, despite an already steep increase during the first three months of 2021. The typical household is now spending a record 14.9 per cent of their income on transport.
Australian household are now spending 14.6 per cent of their budget on transport costs. This is the highest percentage since the Index commenced five years ago.
The AAA welcomed the significant increase in spending on land transport infrastructure in the October 2020 federal Budget, with investment increasing from $9.25 billion in 2020-21 to $12.89 billion in 2023-24.
Household transport costs fell in the year of Covid as Australian families spent 4.6% less on transport in 2020 than the previous year. A typical household spent $310 per week on transport, or 12.5% of its income.