New data reveals extent of housing affordability concern

Four out of five Australians wishing to enter the property market now think owning a house in their lifetime is unachievable as prices skyrocket far above wages.

The Issue

This Property Council of Australia data reveals almost 90 per cent of people trying to get into the market say housing affordability is one of the most important issues in deciding their vote when it comes to the May 2022 Federal Election.

The release of the data coincides with a new Property Council campaign – called Our Dream – which includes an emotive video which draws attention to the plight of aspiring home buyers and aims to encourage political leaders to address the worsening housing affordability crisis.

Nationwide Survey

The data, taken from a nationwide survey revealed almost 90 per cent of people attempting to enter the property market cited affordability as the biggest barrier.

  • Research shows 4 out of every 5 aspiring homeowners actually believe the dream of home ownership is unachievable.
  • 73 per cent of voters said the Federal Government needed to work with the states to get more housing built.
  • 68 per cent of voters believe for some people, the only way to buy will be with help from parents, and amongst the over 55s, that figure jumped to 74 per cent.

Report

The Essential Media poll surveyed 1,091 Australians during the period 17-20 March 2022. View the findings here.