TUESDAY 5 May 2026 - Today’s interest rate rise - increasing the cash rate to 4.35 per cent - will heap further pressure on millions of Australians already facing housing stress, AMPLIFY CEO Georgina Harrisson said.
“This interest rate rise comes when housing affordability and cost-of-living pressures have reached breaking point for many Australians,” Ms Harrisson said.
“For many households, this decision will force even tougher choices about paying the bills and keeping a roof over their heads. AMPLIFY research shows 67 per cent of Australian homeowners are already in housing stress, and 19 per cent in severe stress, spending more than half of their income just to stay housed.
“This is more acute because the underlying issues driving high housing costs have been left unresolved for too long. Australians are looking to governments for decisive reform that will make it easier, faster and cheaper to build more homes.”
AMPLIFY recently released a comprehensive plan to solve the housing crisis, informed by the views of more than 18,000 people - Australia’s biggest ever community engagement on housing. Solving Australia’s housing crisis: A promise broken, a plan to rebuild it provides the mandate for governments to step up and match the public’s desire for reform.
“AMPLIFY calls on the Federal Government to adopt our community backed reforms,which could deliver more than one million additional new homes and more than half a million new first homeowners over the next decade, while slashing housing costs by $320,000,” Ms Harrisson said.
“Our research shows that when Australians have a say in decisions that aJect them, they back reforms far bolder than the political debate presumes. With the upcoming Federal Budget, there is an opportunity for the government to prove it understands the scale of the housing crisis and is prepared to solve it.
“Temporary cost-of-living relief and tinkering around the edges won’t solve the broken housing system. Without bold, long-term reform to improve productivity and aJordability, interest rate rises will continue to put pressure on households and erode the chance of home ownership for future generations.”
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MEDIA CONTACT
Rosemarie Lentini, rosemarie.lentini@amplifyaus.org, 0421 201 315