Australia's birth rate hits 15-year low as housing costs rise

Australia's birth rate has fallen to a record low of 1.5 children per woman, the lowest in 15 years. Rising housing costs are a major factor, making it difficult for young adults to buy homes and start families. The Centre for Population reports that housing prices have increased by 150% since 2007, while living costs for families rose by 55%. This financial strain is causing many to delay or forgo having children. Analysts predict the fertility rate could drop further to 1.44 in 2024. If this trend continues, it may lead to fewer school-age children in the coming years, impacting government planning for education and housing.