FAMAGUSTA GAZETTE – Housing affordability in Australia has plunged to its worst level on record, with just 0.7% of rental listings deemed affordable for full-time minimum wage earners, a report by Anglicare Australia revealed Wednesday.
The report, which surveyed 51,238 rental properties nationwide, found that only 165 listings—0.3%—were affordable for someone on the age pension, while 0.1% were affordable for recipients of the disability support pension.
For those receiving the JobSeeker Payment, Australia’s unemployment benefit, just three rentals were considered affordable.
“Australia’s housing crisis is the worst it has ever been,” Anglicare Australia executive director Kasy Chambers said in a statement, noting that 74 of the nation’s 150 electorates had no affordable rentals for minimum wage earners.
The findings come days before Australia’s general election on Saturday, where housing and cost-of-living pressures are major campaign issues.
Both the governing Labor Party and opposition Coalition have pledged multi-billion-dollar plans to boost housing supply, though experts warn the policies could further inflate property prices.