The Future of Affordability: Cost of Living and Housing
Homelessness is impossible to ignore: people living in tents, sleeping in the streets, couch surfing or living in overcrowded dwellings, accessing services that are struggling to keep up with the demands. Yet this only tells one part of the story. Recent Census figures record more than 122,000 people experiencing homelessness every night 1, yet that doesn’t capture the growing number of individuals and families struggling under the surface. Homelessness has many causes, but something else is intensifying this complex and challenging issue — the cost-of-living crisis.
Across Australia, the cost-of-living crisis is placing growing pressure on families and communities. Food prices have risen and fuel prices spiked to their highest in March, an increase of 32.5% from the previous month and 10.7% higher than their previous peak 2. These rising costs for essentials are being felt in everyday decisions, with many households finding it harder to keep up. For people already living on low incomes, on the margins or without secure housing, these pressures are even more severe and will tip people into homelessness.
Recent research shows that the number of people experiencing poverty has grown to 1 in 73. Groups that face the highest risk of poverty are those living in public housing, unemployed or receiving income support. A driving factor is increasing rents, which have risen 2.5 times faster than wages in the last five years4.
Housing pressure is part of a broader affordability crisis that impacts those on the margins the hardest. Around 289,000 people received support from specialist homelessness services in the past year 5 and with a social and affordable housing shortfall of 600,000 homes, it won’t be long before we see more people experiencing housing stress and subsequently, homelessness. It’s a spiral that only takes one or two unfortunate events to kickstart a brutal trap.
This is why Homes for Homes exists — providing a whole-of-community solution to meet a need and create housing when funding and supply falls short. This funding platform creates real impact on housing supply and communities, turning a vision for a project into real change. For every $1 granted, Homes for Homes can unlock $8 for the community housing sector. Independent and flexible, it provides funding that meets the immediate needs of the community.
Having a place to call home is paramount to well-being. When a home is lost, it limits the ability to lead a life, to do things like wash and cook meals, hold down a job or attend school. Having a home is the difference between falling further behind and taking practical steps towards greater stability.
Addressing housing affordability requires coordinated action across multiple sectors. Homes for Homes offers an innovative funding model that delivers flexible, immediate support to community housing projects, enabling practical responses to current demand and easing the burden that too many people are facing.