Kathmandu. Australia’s housing crisis is likely to worsen in the coming years due to the rapid impact of climate change, a detailed study suggests.

According to the study, if pollution continues at high levels, the number of people who will be homeless by 2035 could quadruple compared to today. “Climate change is having a profound impact not only on the environment but also on people’s daily lives, lives and economic conditions,” it said.

Researchers say that various economic and social pressures are increasing due to climate change. Home and property insurance costs are expected to become more expensive, especially with the increase in natural disasters and extreme weather events. Both landlords and renters will be under financial pressure due to the increase in the cost of insurance. Similarly, the cost of building new homes will increase sharply as events such as floods, wildfires, storms and extreme heat disrupt the supply of construction materials.

According to the study, the cost of buying a house could double in the event of high pollution emissions. In addition, rents are projected to rise by up to 45 per cent, hitting low- and middle-income households the hardest. The study said that many people are at risk of losing permanent settlement due to rising prices and housing shortages.

The study warns that the situation will not be very easy even in the event of low emissions. Even if efforts to reduce pollution succeed, homelessness is expected to double in 2020 and the economic potential of renters could fall by 23 percent. This indicates that the effects of climate change are long-term and severe.

The researchers analysed nearly two decades of national housing, income and demographic data. They analysed the relationship between the climate crisis, government policy, economic conditions and the housing market and forecast future risks. The study warns that ill-designed housing policies, in particular, could exacerbate inequality. For example, policies that focus only on insurance premiums or home loan interest rates can shift the financial burden on renters.

According to the researchers, the potential impact of climate change must be included in every housing policy made in the future. If climate risks are left unaddressed, the study concludes, the housing crisis could deepen, exacerbate social inequality and leave large numbers of people homeless.