UK and Australia Face Severe Rental Challenges

The housing crisis in both the UK and Australia is significantly impacting renters, with many struggling to afford rent despite earning well above the median income. In Manchester, the rising average rent coupled with frozen local housing allowance rates is leaving families unable to cover their costs, highlighting a growing crisis for those on housing support. Similarly, Australians are experiencing severe rental stress, with even those earning $100,000 annually finding it challenging to meet rent demands in cities like Sydney, where rents consume 48% of income. Reports by 'Everybody's Home' indicate that rental stress now affects not just lower-income individuals but also professionals and middle-income families, urging the government to prioritize housing policies. Additionally, an OECD report reveals that Australian renters are among the most mobile, often forced to move due to inadequate government policies, underscoring the country's precarious rental market. In response to recurring natural disasters, Australia is also examining building regulations to enhance safety and resilience, which may impact future housing costs and availability.