Australia’s housing crisis is worsening and requires bold action from all governments, ACOSS said today following the release of The State of the Housing System 2025 report.
The report, published by the National Housing Supply and Affordability Council (NHSAC), found housing affordability has continued to deteriorate, especially for people on the lowest incomes, while rental stress has become more persistent and is damaging people’s health.
ACOSS has welcomed today’s interest rate cut and is calling for further cuts in coming months to ease financial pressure on people struggling.
“Today’s rate cut is hugely important for people on low and modest incomes who have been worst affected by financial pressures,” said ACOSS CEO Dr Cassandra Goldie.
ACOSS is calling on the Reserve Bank of Australia to cut interest rates again tomorrow, warning that continued financial pressure is hitting people on low and modest incomes the hardest.
“With inflation now consistently within the RBA’s target range, further interest rate reductions are clearly needed to avoid further harm to people under severe strain,” said ACOSS CEO Cassandra Goldie.
ACOSS congratulates Prime Minister Albanese and Labor on its return to government. The second term of the Albanese Government must now seize this opportunity to be bolder in delivering real reform to fulfill its promise of leaving no-one behind.
Anglicare’s Rental Snapshot released today again shows there are no affordable rentals for someone receiving JobSeeker or Youth Allowance nation-wide.
