Unsettled, Insecure, Expensive and Scarce: The Experience of Renting in Australia

National Shelter increasingly looks at the performance of our rental markets in terms of affordability and it was about time we also looked at the experience of renters as users of tenancy products. Most housing stress in Australia is in the rental market and issues of security and amenity are important along with cost and confidence. More Australians rent than ever, approaching a third of all households. And housing affordability is becoming the issue for 2017, as Sydney and Melbourne house prices show no sign of easing and most other markets follow in their wake, albeit at a different pace. Perth, Western Australia and mining regions are the exceptions. Investors now make up close to half of all the dwelling purchases in Australia. Home ownership is in decline because new home owners just cannot afford to break into the market or save the deposit and stamp duty required. And many existing mortgage holders may find it more difficult to sustain ownership if interest rates or underemployment rise.