DefinePK

Abstract

<jats:p>Australia faces a significant housing affordability crisis, marked by rising house prices and rents. This paper reviews the current state of housing affordability, evaluates existing policy responses, and explores potential solutions to the crisis. Using data from the National Housing Supply and Affordability Council, it highlights the imbalance between housing demand and supply, driven by factors like increased migration, economic instability, and low investment in social housing. The study includes comparative insights from other countries, such as Pakistan, to understand different policy approaches. It suggests targeted reforms to boost housing supply, improve affordability, and address underlying socio-economic issues. Drawing on case studies and expert opinions, the paper emphasizes the need for comprehensive policy interventions to mitigate the impact of the affordability crisis on Australian households' quality of life.</jats:p>