An alarming new report demonstrates Australia faces deepening rental and housing stress with a looming shortfall of 106,000 dwellings by 2027, reinforcing the need to finalise a package of housing reforms currently before the Senate.
The State of the Nation's Housing Report released today by the National Housing Finance and Investment Corporation also conservatively estimates around 377,600 households are in housing need, comprising 331,000 households in rental stress and 46,500 households experiencing homelessness. According to the report, housing need across the country ranges from 208,200 households in highly acute rental stress to 577,400 households under less acute rental pressure.
The report has prompted peak housing and homelessness advocacy bodies to call for the Senate to come together to expedite a package of laws to tackle the housing crisis. These include the Housing Australia Future Fund Bill 2023, National Housing Supply and Affordability Council Bill 2023 and the Treasury Laws Amendment (Housing Measures No. 1) Bill 2023.
Wendy Hayhurst, CEO of Community Housing Industry Association, said support for a robust response to the crisis was broad and overwhelming. "The status quo just isn't working. Everyone knows we need a new approach, backed with robust and growing funding, and a strong national housing agency to coordinate delivery. We are hopeful that the Government and crossbench can reach a consensus swiftly, because this crisis is urgent."
Emma Greenhalgh, CEO of National Shelter said the private rental market was failing to deliver the right homes at an affordable price. "The private rental market is brutal. We are seeing people queuing around blocks for inspections and paying through the nose for the most basic accommodation. We need greater public investment and intervention to deliver homes to people who need them and we sincerely hope these reforms do not falter due to politics."
Kate Colvin, CEO of Homelessness Australia, said NHFIC's report highlighted the increased risk of homelessness for a growing number of Australians. "We simply don't have the number of affordable homes we need, nor do we have adequate funding to meet skyrocketing demand. We need an agreement to start addressing the enormity of this crisis and we need it urgently."
