Not enough homes to keep up with population and household growth. At a basic level, Australia needs sufficient new housing to house the nearly one million new households formed between the 2016 and 2021 Census; an 11.9 per cent increase (or an average of 197,826 households per year).
Why is property so expensive in Australia? A number or reasons, such as foreign investment, stronger land regulation, prohibitive tax systems, a highly urbanised market and more.
However, a reduction in the size of the public housing stock has reduced the ability of governments to provide affordable housing to these households. Waiting lists for public housing are high and increasing, and the housing affordability problem has contributed to sustained high levels of homelessness in Australia.
Mission Australia Housing provides affordable housing to individuals or families on low to moderate incomes who are having difficulty securing housing in the private rental market. It is designed for working households and the rent we will charge you is up to a maximum of 80% of market rate.
Key points: More than 640,000 Australian households are in housing stress.
Australia's top 10 cheapest suburbs 2022
Andamooka in South Australia takes the title of Australia's cheapest suburb, with a median house price of just $20,000. Western Australia and New South Wales both have three suburbs respectively in the top 10, while Queensland and South Australia have an equal two each.
Gold Coast is one of the cheapest places to live in Australia (89th globally). It is known for its high-standard education and academia and its budget-friendly living. International students will find the Gold Coast the perfect combination of study and social life, with its magnificent beaches and nightlife.
Statistics from Specialist Homelessness Services show over 11,600 young people presented on their own for support at various services across Australia, on any given day in 2021.
Australia's country towns are experiencing rising homelessness as rents skyrocket, vacancy rates plummet and people on low incomes find themselves unable to afford a home. The 2022 Australian Homelessness Monitor reveals a rapid growth in homelessness in regional Australia over the past four years.
In Australia, homelessness is increasing. Rising rents, skyrocketing home prices and inadequate housing supply are backing people against a corner and into homelessness.
Causes of homelessness
Domestic violence is the single biggest cause of homelessness in Australia.
Key points. A new report ranks global property markets as fair valued, overvalued or in bubble risk territory. Sydney property prices are overvalued despite recent price falls, the report found. Experts warn prices will not necessarily fall back to levels that would be fair value.
According to the 2022 International Housing Affordability Survey by Demographia, three out of the ten least affordable housing markets are in Australia and New Zealand and four more are located in the United States. The least affordable housing market is Hong Kong.
What is causing rental prices to increase? PropTrack economist Angus Moore says the record low comes down to low vacancy rates and lack of rental options. "The main reason that we're seeing rents grow as quickly as we are at the moment is that there just aren't a lot of rentals available," he said.
Melbourne is considered by some to be the best city to live in Australia, and has even been ranked as the world's most livable city more than once. It's home to a thriving live music scene, late-night bars and laneways dotted with cafés and coffee shops.
According to Numbeo, Australia ranks 14th for highest cost of living in the world. This places this warm nation higher on the list than the United States, United Kingdom and even Canada (at least when you exclude rent costs). If you do include rent costs, Australia drops down slightly to 15th.
Rent is often more affordable than mortgage payments on the same kind of property. You can afford to live in areas you may otherwise be priced out of as a buyer. You don't have to save up for a deposit.
Sydney prides itself on safety, deep culture, and friendly communities. It is considered the fifth safest city in the world and Australia's safest city. Like any other city, there is crime, just not as much. It is no secret that Sydney is a major city with a population of 5.2 million.
A majority of people experiencing homelessness long-term in Australia are found in the large cities of Sydney, Melbourne, Brisbane and Perth. It is estimated that on any given night approximately 116,000 people will be homeless and many more are living in insecure housing, "one step away from being homeless".
Hidden homelessness can mean anything from homeless shelters, crisis accommodation, cheap motels, sleeping in your car, or to most people's shock even sleeping on your friend's couch. It's a temporary solution that doesn't fix the problem of homelessness in Australia.
Domestic and family violence was the most commonly reported main reason that Indigenous people sought assistance from specialist homelessness services (22%), as it was for non-Indigenous clients (21%). Agencies were able to support some Indigenous clients into more stable housing.