Australians seek out affordable housing amid rising costs

Renters are at an increasing risk of housing stress in 2023 as Australians face significant rises while thousands of properties are being wiped from an affordable housing scheme.

New housing being developed in Sydney. Credit: AAP

Key Points

• 36,000 affordable properties will be removed by 2026, with 6,600 of those properties phased out in this year alone.
• The Albanese government has currently pledged to build 20,000 social homes over the next five years.
• The National Rental Affordability Scheme aimed at providing government subsidised, below-market rent prices was scrapped during Scott Morrison's leadership with the program coming to a close in 2026.

This year more than 6,600 affordable homes will be lost under the scrapped National Rental Affordability Scheme (NRAS) and advocacy groups are asking for a commitment to build more homes.

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