As Australia approaches its federal election, the cost of living crisis has taken center stage, emerging as the most significant concern among voters. However, recent AES data indicates that respondents have listed the cost of living/inflation as the most important policy issue. This worry is far and away the top concern by over fifty points. This is a feeling expressed by many different demographics. There can be no question that economic pressures are top of mind for voters.
The latest AES results show that over a quarter of local respondents named the cost of living crisis as their biggest worry right now. To put that in context, when paired with housing problems, that number jumps up to a full third of respondents. Vote Compass data makes clear just how urgent this issue is. In fact, it found that the cost of living is the usual number one issue for voters of all ages, educational attainment and party ID.
Voter Sentiment Reflects Economic Pressures
The public data from multiple national surveys paints an alarming picture of the escalating burden everyday essentials are placing on American families. A recently-released Roy Morgan survey showed that managing cost of day-to-day living was the most important issue for survey respondents. The cost of living has emerged as a top-tier issue. It’s increased in importance by 7% from 2022 to 2024, hitting a historic high of 57%.
Maya Rawlinson, a Brisbane university student, is excited about voting in her first federal election. She just wanted to share her concerns about the burdening cost that weighs heavily on young adults such as herself.
“If we didn’t have the support of my mum and dad, it would definitely be much harder to find a rental,” – Maya Rawlinson
Rawlinson put in stark terms how the drive for efficiencies has radicalized her experience day-to-day. “A lot of places, if you don’t have a certain amount in your bank account they won’t even consider you,” she added. Her concerns are the same as a broader fear shared by her classmates. They are all feeling the pinch from soaring prices for food, housing, and other basic needs.
Academic Perspectives on the Cost of Living Crisis
In addition to the T4 report, experts have been raising their voices on this pressing issue. Professor Katrina Lee Koo from the University of Queensland’s Political Science and International Studies department described the cost of living crisis as reaching a “crisis point.” She noted that this issue is quickly emerging as a big bipartisan policy priority for both major political parties. It is perhaps the best area to see dramatic differences between their approaches.
“I think that is a major policy for both parties, and it’s one of the few policy areas where we’re seeing a major difference,” – Professor Katrina Lee Koo
That crisis is hitting everyday voters, and hitting them hard. We’re heartened to see so many candidates stepping up to meet these economic challenges and reimagine the political landscape in the process. As the latest AES data indicates, voters overwhelmingly want action on climate change, with nearly half of all voters calling it an “extremely important” issue. With state funding for living costs outpacing climate action in urgency, economic concerns always trumped environmental issues.
Trends in Voter Priorities
The growing focus on cost of living is an indication of how much voter priorities have changed since the last federal election. Our cross-section of 14,522 voters showed that the high cost of living was voters’ top issue. This deep-dive analysis occurred soon after the close of the 2022 elections. This repeated ranking in dozens of surveys highlights the unusual durability of Australian voters’ attention to economic issues.
In addition to the AES findings, the monthly Ipsos monitor survey corroborated that about 1,000 respondents considered cost of living their primary concern. Cost of living was the second most pressing issue cited by respondents, including those who said they planned to vote for independent candidates. This concern was shared by many voters. This cross-demographic resonance indicates that political candidates should not ignore economic issues when drafting their platforms.
