Rental Affordability Crisis Eases Slightly, But Remains “Unacceptably Unaffordable” Across Australia
CANBERRA – While Australia’s rental affordability crisis shows early signs of easing, rents remain at levels considered “unacceptably unaffordable” nationwide, according to recent data and housing experts. The findings come as calls mount for targeted investment from the federal government’s $10 billion Housing Australia Future Fund (HAFF) into regional areas.
Advocates are urging the government to direct HAFF funding to specific regional locations where it can have the greatest impact, citing the declining proportion of social housing stock in Australia. The HAFF initiative, designed to build affordable housing, has faced delays and escalating construction costs.
“We’re advocating… to say please target that [fund] to particular regional areas where it can make a real difference,” one advocate said.
Robert Pradolin, from Housing All Australians, a private sector group focused on low-income affordable housing, emphasized the broader economic impact of rental unaffordability. ”This is a problem for the entire community and that includes business,” he said.
Recent analysis identifies specific postcodes experiencing the moast severe rental burdens, with some renters facing costs consuming half their income.
Grattan Institute housing deputy program director Joey Moloney, noted the situation has “eased a bit” from the acute pressures of recent years, but stressed the need for sustained action. He outlined a three-pronged solution for governments: increasing housing supply in well-located areas, expanding social housing, and boosting the Commonwealth Rent Assistance payment.
