This report provides an independent assessment of current housing system conditions in Australia and the factors shaping outcomes for households. It brings together data, analysis and stakeholder insights to support informed decision-making and to identify where policy settings can be strengthened to improve supply, affordability and access. Six priority areas for housing reform are outlined.

The report details Australia’s current housing demand, supply and affordability conditions, and the expectations for these over the coming years. It finds that housing affordability continued to deteriorate in 2024, with worsening trends across most capital cities and regional areas. It makes 15 policy recommendations in five key policy areas.

In this report, the Council presents an overview of the state and functioning of Australia’s housing system. It assesses demand and supply conditions, and how these factors influence dwelling prices and rents. The report assesses housing affordability in Australia across tenure, age and income groups, and focuses in detail on cohorts of vulnerable people.