Grocery bills are nudging $850 a month, housing remains out of reach for many, and energy costs keep climbing. As Australians prepare to head to the polls, a new survey from Compare the Market paints a clear picture of what voters want fixed first: the cost of staying afloat.
With the election now officially called, the findings from over 1,000 respondents show the everyday essentials are weighing most heavily on minds and wallets. Grocery prices came out on top, with 38.5% of Australians naming it their biggest cost-of-living concern. Housing prices followed at 23.9%, and energy costs rounded out the top three at 13.1%.
The average household is now spending $212.80 a week on groceries—an eye-watering amount that has many wondering whether they’ll ever catch a break. Compare the Market’s Economic Director David Koch didn’t mince words when summing up the national mood.
“Many will agree, it’s been a difficult few years,” he said. “Inflation has made families feel worse off because they’re spilling more cash on essentials and less on the things they enjoy doing.”
And while groceries are the top concern, housing is never far behind. Around one in five Australians say affordability is front of mind this election. Whether renting or trying to buy, the pressure is relentless—and Koch says there’s plenty that both major parties could be doing to help.
“Homeowners have felt the brunt of the relentless rate rises to tame inflation. The government should be making it as easy as possible for people to refinance and switch to a better deal by streamlining and standardising the process banks use to discharge customers.”
He also called for fresh thinking on housing policy, particularly when it comes to investor tax perks.
“To help address affordability for young buyers, both parties should look at negative gearing reforms. I’m not saying to get rid of it but could we consider scaling back tax concessions? Maybe an upper limit on the number of properties which can be negatively geared by any one taxpayer?”
And then there’s the issue of transparency—or lack thereof—in the property market. Koch argues that basic clarity on price expectations could make the process far less painful for buyers.
“For too long, buyers have been kept in the dark about seller expectations. Price guides should be made essential everywhere.”
Beyond housing and groceries, the survey revealed a broad sweep of concerns. Health insurance premiums (6.1%), the price of visiting a GP (4.6%), and insurance costs for homes and contents (3.9%) all made the list. Even fuel, internet, and public transport expenses were flagged—though by smaller margins.
As the campaign heats up, so does the pressure on parties to outline real answers. For now, voters will be weighing up whether any promises can lead to genuine relief.
“Now it’s time for Australians to decide whether a change is needed to improve our fortunes as a nation, or if the current government is the best fit for the job,” Koch said.
“May 3 is an opportunity to move the needle on our cost of living crisis, and carve out a more financially secure future for us all.”
One vote won’t slash grocery bills or shave thousands off a mortgage. But as these numbers show, voters aren’t just turning up out of habit—they’re showing up hungry for change.
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