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Oct 20, 2011

Young people delaying home purchase puts pressure on the rental market

The State of Australian Cities 2011 report findings that show young people are staying in the family home or joining share houses shows just how unaffordable housing has become.

Housing must be considered as an important part of our infrastructure, and more supply in the low-cost rental market was imperative to improve housing affordability.

The report, to be released today by Infrastructure Minister Anthony Albanese, and as reported in The Australian, (“More young people stay on at home: housing affordability worsens” The Australian 20/10/11) also emphasises the need for a Federal Minister devoted to housing.

The housing affordability crisis has not come about overnight. It is an entrenched problem that there are a range of solutions for. If the Federal Government gave this portfolio to one of their Ministers, these changes could be overseen and implemented.

Housing is a large part of the infrastructure and sustainability of our cities, the fact that we are seeing a spike in young people deferring home ownership puts extra pressure on the rental market.

With a Federal housing Minister, and a National Housing Plan to address these sorts of trends and look at tackling affordable housing shortages that are putting chronic pressures on families across the housing spectrum, we would be able to make changes to improve our broken housing system.

Housing is the most vital and relevant part of any infrastructure discussion. The debate about the future of our cities has to address the housing stress that more than one in ten Australians face.

Australians for Affordable Housing is a coalition of national housing, welfare and community sector organisations to highlight the problem of housing affordability in Australia.

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