Housing Crisis in Australia:

The key housing market factor for increasing homelessness has been that rental prices have increased higher than increases in the consumer price index over at least the last 20 years and eventually turned up to a major housing crisis in Australia.

For instance, for Greater Melbourne and major regional cities in Victoria.

This is consistent with the increased numbers of households in household stress across Australia, since 1995, in particular for NSW, Victoria, and Queensland.

Across Australia, only 2 percent of private rentals are affordable for a person on the minimum wage.

This collapse in affordable rental has been particularly serious for people on welfare benefits, since their incomes have only increased based on increases in the consumer price index.

Others on low incomes, in particular, due to stagnation of salaries since the global financial crisis in 2007-08.

Obviously, as rental prices have continued to substantially increase higher than increases in the consumer price index since before 2000, people on low incomes have substantially increasingly suffered more housing stress.

Also read: The UK’s Housing Crisis