Rental Affordability Snapshot highlights urgent need for Budget action
Everybody's Home
National housing campaign Everybody’s Home said the federal government must prioritise building social housing and ending investor tax breaks in this year’s Budget, as new analysis reveals virtually no affordable rentals exist for people on the lowest incomes.
This year’s Rental Affordability Snapshot, released by Anglicare Australia, found that nationally, 0% of private rentals were affordable for people on JobSeeker and Youth Allowance, just 0.2% for someone on the Age Pension, and only 0.5% for a full-time minimum wage worker.
Everybody's Home spokesperson Chantal Caruso said the Federal Budget must deliver tax reform and redirect those savings into homes people can afford.
“It’s staggering that there are virtually no affordable rentals in the private market for people on the lowest incomes. Even full-time workers on the minimum wage are being completely priced out,” Ms Caruso said.
“The system is failing, but it can be fixed if the federal government steps up now with meaningful reform and investment.
“This Budget presents a critical opportunity to deliver meaningful reform by ending unfair investor tax breaks that are making the housing crisis worse, and reinvesting those savings into building more public and community housing.
“Australia has a shortfall of 640,000 social homes and demand is growing. Building more homes that are actually affordable will not only support those in greatest need, but also ease pressure across the broader rental market.
“We need a housing system that is fair and affordable for everyone. Every Australian deserves a safe, secure and affordable home.”
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