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14% of Australians can’t afford essentials, new research shows

Media Coverage
Ragtrader; May 2, 2024

New research into the ongoing housing cost of living crisis reveals nearly 1 in 7 Australians (14 per cent) can’t afford essentials for living comfortably at home.

The research conducted by local charity Good360 Australia, also found 1 in 5 know someone who can’t afford these essential home items and nearly a quarter (23 per cent) are concerned about the living situation of a friend or family member. 

It comes as discretionary spending softens across key retail categories, including fashion and footwear, with the Australian Bureau of Statistics reporting sales falls in March 2024 for fashion, department stores and household goods categories.

Good360’s new research also reveals over a third of Australians (36 per cent) are worried about the proportion of their family’s income going to housing costs such as rent or mortgage payments and 30 per cent would accept new, unsold home items from a charity.

Generation Y and women are doing it particularly tough, the research showed, with those aged 35-44 more likely to say they can’t afford home essentials or know someone who can’t, with women more likely to be worried about housing costs.

Good360 Australia Founder and Managing Director Alison Covington AM said the research highlights the ongoing and broad impacts of the silent cost of living crisis.

“The cost of living crisis is now literally hitting home for millions of Australians,” Covington said. “We know people need more than a roof over their head to lead a dignified life, and our research shows millions of people are now struggling to afford the essentials such as bedding, appliances, cutlery and cooking utensils.

Check out the full article over at Ragtrader.

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