Household transport spending hits new high
THE latest edition of the Transport Affordability Index shows the average household in Geelong spent $330.70 per week on transport costs.
That represents 12.3 per cent of the average weekly household income and was a rise of $46.07 per week since Q4 2020.
Typically, Geelong households faced yearly transport costs of $17,197 compared to Melburnians who spent on average $22,573 a year per household, or $434.10 per week during the first quarter.
On average a typical Australian household is now spending 14.6 per cent of their budget on transport costs.
The quarterly publication produced by the Australian Automobile Association (AAA) measures transport costs across all capital cities and a regional centre in each state and the Northern Territory.
The report placed Geelong as the second most affordable regional city in Australia for transport costs behind Bunbury.
However, extra pressure on household budgets across the Geelong region was driven by sharp increases in car loan payments and fuel expenditure which rose by $1,863 and $449 per annum, respectively.
Peter Kartsidimas, RACV’s senior manager transport, planning and infrastructure, said this quarter’s Affordability Index showed the largest rise in overall national transport costs since it commenced in 2016.
But Mr Kartsidimas said there were some simple things Victorians could try to help keep their transport costs down.
“We would advise Victorians to shop around for the best fuel deals by keeping an eye on the price via RACV’s online fuel tracker,” he said.
“With the cost of public transport not increasing during the quarter, consider how you might be able to use it more, or walk or cycle for short trips.
“The arevo by RACV app can help you plan your journey by whatever mode of transport you decide to use and is available to download for free from the apple app store or google play store. It also has a fuel tracker.
“RACV will continue to advocate for active transport options that give all Victorians more options for how they move around.”
The costs for registration, CTP, licensing and roadside assistance in both Geelong and Melbourne remained unchanged in the first quarter of 2021.
The AAA represents more than 8.5 million Australians through its clubs, the RACV, NRMA, RACQ, RAA, RAC, RACT and AANT.
To view the comparative data for each state and territory go to data.aaa.asn.au/transport-affordability/.