00:00We've had several years of really high rent growth, and apart from a slow earning period
00:10where rents didn't rise quite as fast, it's been a tough time.
00:14And this shows that even when rents slow for a small period, they're likely to bounce back.
00:21And that's what we're seeing in this report.
00:23It's really significant that affordability has deteriorated so much in such a short time
00:29because affordability, the ratio of rent to income, is actually generally quite stable
00:35in the statistics.
00:36For an individual, it might be rough, but across the whole population, it usually stays fairly
00:41tied together.
00:42For 10 years, it had barely shifted in this totality data.
00:45To jump nearly 3% or 4% in just one report is a really significant shift.
00:52So what does give is that people lose their homes and they lose their communities.
00:57People maintain their ability to stay housed, to keep a roof over their head, by moving
01:03to smaller dwellings, by moving to places that are further away from their jobs, their community,
01:08or by moving into places that are just not up to a reasonable modern standard, that don't
01:15have energy efficiency features, that might not even have council approval in some cases.
01:22But what they do have is the rent that is low enough to maintain under the current income.
01:27So let's see.
01:28So let's see.
01:29Here we go.
01:30Here we go.
01:31Let's see.
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