Rental affordability hits worst levels 

29/05/2023

A new report showing Australia’s rental affordability has hit its worst levels in nearly a decade underscores the need for more social and affordable housing, Everybody’s Home says.

The ANZ CoreLogic Housing Affordability Report found the median household would need to spend almost a third of its income to service a new rent lease – putting them in housing stress – while lower income families would have to pay more than half their earnings.

Everybody’s Home spokesperson Maiy Azize called for more social and affordable housing.

“This report shows that average Australian households are in housing stress. Housing stress can push people into homelessness and put pressure on the services they turn to for help,” Ms Azize said.

“At the same time as record numbers of people are in hardship, our social housing shortfall has never been bigger. We simply cannot end Australia’s housing crisis without more social housing.

“For the sake of people’s mental health, safety, and financial security, Australia can’t afford to continue delaying building more social housing. We already have a shortfall of 640,000 social homes and that need will grow with inaction. 

“It’s time for the Federal Government to invest serious dollars into social housing by building 25,000 of them every year.”