The high cost of housing is forcing families to make troubling trade-offs, including delaying having children because they can’t get into home ownership or secure rental housing.
Reports of house prices and economic fears driving Victoria’s fertility rate to the lowest in the nation indicate that the housing crisis has wide reaching ramifications.
The problem of housing affordability is indeed a wide-reaching one.
Today we had the Victorian launch of the campaign where we revealed that high housing costs are pushing households to seek emergency relief services for the provision of basics like food parcels and bill payments.
The high cost of housing is having repercussions for households across the housing spectrum. Reports of cash strapped households sharing to split the financial load is a worrying trend as households try to cope with high housing costs. (“Families stay put to save” Herald Sun 27/09/11).
On Monday, we released the analysis ‘Australia’s broken housing system’ [linked], revealing that housing costs are not only the biggest cost to household budgets, but also the fastest rising. Housing costs have increased an average of 55% over the last six years.