Real Estate

Housing and rental affordability must be addressed in 2022

After a record year of house and rental growth, the Federal Government must do more to address housing and rental affordability in 2022 the Everybody’s Home campaign says.
“We saw record rental price growth in 2021 even during COVID-19 restrictions. As the economy continues to rebuild, prices will increase even further, pushing up housing stress and homelessness.” Everybody’s Home campaign spokesperson Kate Colvin said.
Victoria, Queensland, Tasmania and Western Australia have invested up to $10 billion over the next few years to build social housing. Unfortunately, there will still be a shortfall of over 200,000 households who will be in need of social and affordable housing.
“While we should applaud the state governments who have stepped in to invest in social housing, only the Federal Government has the fiscal firepower to make a significant difference.” Ms Colvin said.
Recent research from the Grattan Institute shows how social housing has fallen from six per cent of all housing to less than four per cent since 1991. The decline means a greater proportion of low-income households have to compete in the private rental market.
“Homelessness and housing stress are already at record highs. Many households across Australia are at breaking point. 2022 has to be the year the Federal Government takes action and invests in social housing.”

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