Australia’s Housing Affordability Crisis
The Pulse
"Australia is a global basket case in property affordability terms … NZ & Canada are rapidly correcting…will Australia follow suit??"
Why Home Ownership Feels Out of Reach
Across Australia, young people and first-time buyers are facing a harsh reality: owning a home is becoming almost impossible. Recent reports highlight that it’s no longer just major cities — housing affordability is collapsing everywhere, from Sydney to regional towns.
At MyMoneyMedic, we understand that housing stress impacts more than finances — it affects mental health, confidence, and life decisions. Knowing the factors behind rising prices and rents can help you make informed choices and protect your wellbeing.
You can read the full MacroBusiness report here:
👉 MacroBusiness: Surf to Turf
Why Housing Affordability Is Falling
1. Rising Property Prices Everywhere
Data shows that even regional markets are catching up to major city prices. Short-term affordability gains in smaller towns are quickly offset as demand spreads.
2. Wages Not Keeping Pace
For most Australians, wages growth has been slow, meaning household incomes are increasingly mismatched with property prices.
3. High Demand Fueled by Immigration
Population growth, especially through immigration, increases competition for housing, driving prices up.
4. Limited Social Housing Options
With social services stretched, affordable housing options for young and vulnerable Australians remain scarce, worsening the accessibility gap.
These factors combine to make home ownership and rental security a growing source of stress.
What This Means for Financial Wellbeing
Housing costs are closely linked to overall financial and emotional health. Stress, anxiety, and reduced life choices are common among those struggling to access affordable housing.
At MyMoneyMedic, we see housing stress reflected in our PulseCheck data, with clients reporting increased anxiety, disrupted sleep, and difficulty planning for the future:
👉 MyMoneyMedic PulseCheck
Practical Tips to Navigate Housing Stress
💡 Steps to Protect Your Wellbeing and Finances
- Budget for Reality
Understand the true costs of housing — rent, utilities, and hidden expenses — and adjust spending accordingly. - Explore Alternative Housing Options
Shared housing, co-living, or regional towns might be viable if your lifestyle allows flexibility. - Build Your Savings Strategy
Even small, consistent savings can improve your options over time, whether for deposits or emergency funds. - Reduce Financial Stress
Use tools like the MyMoneyMedic Care Portal for personalised guidance and support:
👉 Care Portal - Focus on Mental Health
Housing stress can take a toll. Mindful practices, routine, and professional support help maintain balance.
Video Resource
🎥 Housing affordability in Australia has never been worse: Cotality report | ABC NEWS
This video highlights why housing costs are rising across the country and what it means for Australians trying to buy their first home.
Final Thoughts: Focus on What You Can Control
While broader market forces may feel out of your control, your financial and emotional wellbeing isn’t. By budgeting wisely, exploring options, and seeking support early, you can navigate housing stress without letting it overwhelm you.
At MyMoneyMedic, we believe wellbeing is as important as wealth — especially when external pressures like housing affordability are high. Take small, deliberate steps to stay secure, informed, and resilient.
