How the housing crisis could put you at risk of homelessness

Buying a home is one of the most talked about issues in Australia today – because fewer and fewer people can afford it. Across the country, house prices rose 7.7 per cent in 2016. In Sydney, house prices jumped nearly 19 per cent in the 12 months to March. Melbourne experienced a 17.15 per cent increase in the same period. Countless media stories have told how the high cost of housing in Sydney and Melbourne has frozen first home buyers and families out of the market.

Preparing your home to rent Source: Pixabay

Often overlooked is what is happening at the other end of the spectrum. A hot property market has led to a sharp increase in rents. A new report has revealed a lack of affordable housing and widespread rental stress (where over 30 per cent of household income goes to rent).