Aussies forced to live in tents as rental crisis deepens

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The federal government’s mass immigration policy continues to wreak havoc on Australian renters.

Australian NOM

After net overseas migration hit a record 549,000 in 2023, advertised rents have soared by nearly 40% nationally:

Advertised rents
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The surge in rents is directly correlated with the hyper-growth in population:

Rents and population

As a result, PropTrack’s rental affordability index has collapsed to a record low:

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Rental affordability index

The proportion of income used to service rent has also hit an all-time high:

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The impact has been especially brutal on lower-income households who are being thrust into deep financial stress, homelessness, or insecure housing arrangements.

A report by 9News encapsulates the pain, with “makeshift campsites and tent cities expanding across south-east Queensland as the state’s housing crisis escalates”.

“A tent city in Rothwell, in the heart of Premier Steven Miles’ electorate of Murrumba, is sprawling”.

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Brisbane tent city

What sort of nation runs a gigantic immigration program without the means of housing the additional residents?

The Albanese government is responsible for throwing thousands of Australians onto the streets.

About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.