When stability feels out of reach
When rents and groceries keep climbing and the dream of owning a home feels further out of reach, how do you maintain a sense of stability and hope? For many Australian women, it’s a question that demands answers. The soaring cost of living is reshaping women’s life choices, pushing many to delay big milestones like homeownership and leaving many struggling to achieve the security they deserve.
The impact of rising costs
The cost-of-living crisis is hitting women hard. In Brisbane, rents have risen by a staggering 58% since March 2020, pushing some women into shared housing or putting their home ownership plans on pause indefinitely. Meanwhile, policies like the First Home Super Saver Scheme, while well-intentioned, have often fallen short, with critics pointing out that they can fuel property prices, rather than improve access.
But the strain extends beyond housing. Rising costs across childcare, groceries, insurance, energy, and healthcare are stretching tight budgets, forcing some women to make impossible choices between food or rent, work or childcare, saving for the future or surviving the week.
Childcare costs limiting opportunity
Childcare continues to be one of the biggest barriers to women participating in the workforce. Even with subsidies, many families are spending more than 20% of their disposable income on childcare, which is unsustainable for many, especially as other costs rise. For women in rural and regional communities, where there are even fewer options and costs are often higher, it’s even harder. Without access to affordable childcare, women are forced to make unfair choices, setting back their careers and Australia’s broader economic potential.
Dreams deferred
Owning a home remains one of the clearest paths to financial security, yet it’s a dream slipping further away for too many women.
Initiatives like the Help to Buy scheme offer some support, but they don’t go far enough to tackle the structural affordability crisis. Without urgent action to increase the supply of affordable homes and without addressing the link between high rents and the ability to save for a deposit, the gap will only widen.
Building a future that works for women
Long-term reform is key to addressing the cost-of-living crisis. Solutions must focus on sustainability and affordability, and could include:
Targeted affordable housing initiatives
Governments, businesses, and even religious organisations can partner to rapidly expand social and affordable housing options, particularly for single mothers and new migrants.
Comprehensive childcare reform
Expanding subsidies, supporting early education providers, and investing in childcare availability, especially in rural areas will help more women stay in the workforce.
Secure employment and wage equity
With women overrepresented in part-time, casual, and lower-paid work, policies to improve job security and close the gender pay gap are essential.
Cost of living relief for essentials
Targeted assistance for rising costs like energy, transportation, and healthcare would provide breathing room for those who need it most.
A roadmap to a brighter future
The rising cost of living isn’t just an economic issue, it’s a test to the resilience and ingenuity of Australian women. For many, these pressures have sparked action, fueling grassroots initiatives and community-driven solutions. From neighbourhood groups sharing resources to innovative social enterprises tackling affordability, the seeds of change are already being sown.
Now, it’s time to take these efforts further. Imagine a future where affordable housing is the norm, childcare is accessible to every family, and every woman has the opportunity to build financial security, no matter her circumstances.
Whether it’s through policy reform, workplace advocacy, or simply standing by the women in our lives, we all have a role to play. Together, we can rebuild the foundations of security and opportunity, paving the way for generations of women to not just survive, but thrive.
References
- Brisbane rents have increased significantly since March 2020, with reports indicating a rise of 23% during this period. https://www.corelogic.com.au/news-research/news/2022/the-brisbane-rental-crisis-in-five-charts
- The “First Home Super Saver Scheme” allows Australians to use superannuation for housing deposits, but it has faced criticism for potentially driving up property prices.
- Childcare fees in Australia have risen faster than inflation, with some families spending up to 21% of their disposable income on childcare.
- Subsidies exist, but they often fail to make childcare affordable for low-income families.
- The “Help to Buy” scheme provides shared equity for first-home buyers, allowing them to purchase homes with lower deposits.
- Government-backed initiatives like the Housing Australia Future Fund aim to increase the supply of affordable housing.
- Wage growth in Australia has been slow, with job security concerns contributing to weaker bargaining power for workers.
- Rising costs of essentials like food, energy, and housing have reshaped spending habits and increased financial strain on Australian households.