Australia Reports Record Low Housing Affordability Amid Election

Housing affordability has reached crisis levels in several wealthy economies, with Australia experiencing its worst affordability on record—only a tiny fraction of rental listings are accessible for minimum wage or welfare recipients, and many electorates offer no affordable rentals at all. This issue is echoed across OECD countries, where satisfaction with the availability of good, affordable housing has dropped sharply since 2021, despite most residents still being able to afford basic shelter. The Netherlands, while facing significant price increases over the past two decades, remains relatively more affordable compared to many other EU countries, though single individuals bear a larger housing cost burden. Across Europe, rising rents and house prices are driving institutional investors and policymakers to prioritize affordable housing, supported by regulatory changes and new investment strategies, but challenges remain in defining and delivering true affordability. While government and private sector efforts to boost supply are underway, experts caution that some policies may further inflate property prices. Overall, the disconnect between perceived and actual affordability highlights both the social and economic complexities of the ongoing housing crisis.