Australia among the world’s most dissatisfied nations with housing affordability
Source: NEOS KOSMOS
A recent international survey has revealed that Australia ranks among the most dissatisfied countries in the world when it comes to the availability of quality and affordable housing. The findings highlight the growing frustration of Australians struggling to buy or rent a home, a stark contrast to previous generations who managed to secure property through hard work and sacrifice.
According to the Gallup survey, conducted across 140 countries with responses from 14,000 people—including 1,000 in Australia—only 22 per cent of Australians expressed satisfaction with housing availability in 2024, marking a record low. In contrast, a staggering 76 per cent reported dissatisfaction, a level of discontent rarely seen in high-income nations.
Housing crisis deepens in Australia
The survey’s authors, Benedict Vigers and Madeleine Ambort, attributed Australia’s housing crisis to several complex factors, including historical underinvestment in public housing, high immigration levels, and pandemic-related construction delays. These issues have contributed to a significant housing deficit, with Australia’s housing stock lagging behind the OECD average.
The affordability crisis has intensified, with the price-to-income ratio nearly doubling between 2002 and 2024. Today, the average Australian home costs nearly nine times the median household income, while rental prices have more than doubled over the same period. This has left young people and low-income households particularly vulnerable, as they lack the financial resources to keep up with soaring prices.
Young Australians struggle the most
The crisis is hitting young Australians the hardest, with homeownership rates among young adults plummeting to record lows. The average age of first-time buyers has increased from 25 to approximately 35 years. For those unable to buy, the rental market has become increasingly unaffordable, making it harder to secure stable housing.
In 2024, only 16 per cent of Australians aged 18 to 34 expressed satisfaction with housing availability—the lowest level recorded in the country. By comparison, in other global housing crises, similar low satisfaction rates were recorded in Hong Kong (2019, 11 per cent), Mongolia (2012, 12 per cent), and Iran (2008, 13 per cent).
Australia ranks among the most dissatisfied nations
Australia stands out for its high level of housing dissatisfaction among high-income countries. Among OECD nations, Turkey reported the highest dissatisfaction rate (83 per cent), followed by Australia (76 per cent), Canada (74 per cent), Portugal (73 per cent), and Greece (71 per cent).
Despite widespread housing frustrations, Australians remain largely satisfied with other key infrastructure and services. The survey found that 71 per cent were happy with healthcare, 66 per cent with schools, 60 per cent with roads, and 61 per centwith public transport. However, the gap between housing satisfaction and other community services has never been wider.
Government steps in with housing reforms
In response to the crisis, the Australian government has pledged billions of dollars toward housing investment. The ‘Homes for Australia Plan’ includes funding for public housing, rental assistance, and homeownership support. The initiative also provides financial incentives to states and territories that exceed housing construction targets.
While these efforts offer some hope for improvement, the scale of Australia’s housing crisis suggests that meaningful change will take time. Until then, the dream of homeownership remains out of reach for many Australians, fueling ongoing frustration and economic strain.
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