A small contingent of activists protested the cost of living at Parliament House in Canberra today, coinciding with the exclusive Property Leaders’ Summit, where property leaders discussed investment and capital markets with key government leaders.

A solitary tent was pitched on the lawns by members of the ANU Housing Action Collective and the National Union of Students to symbolise “the only cheap accommodation available in Canberra”.

Protest organiser and ANU student Nick Reich, who said he lived in a “decrepit share house”, stated that he wanted to “crash” the summit because property developers, bankers and politicians were discussing how best to benefit off the cost of living crisis.

“Students have never been offered a champagne dinner or privileged audience with the entire spectrum of politics and key government ministers. Instead, students have been forced to couch surf, skip meals or access food banks, drop out of classes and even sleep on the streets,” Mr Reich said.

“This summit is being held in the context of a vicious housing crisis. Rents are skyrocketing, tens of thousands of people languish on public housing waitlists, and interest rate hikes continue to squeeze mortgage holders.”

The summit’s organiser, the Property Council of Australia (PCA), stated that the current housing affordability crisis was due to 40 years of underperformance by state, territory and local planning systems.

“The only way to improve this situation is to increase housing productivity and supply as quickly as possible and for the state and territories to make additional investments in affordable housing,” a PCA spokesman said.  

“The Property Council is proud to be a part of an alliance of peak industry groups, called the National Affordable Housing Alliance, which promotes measures to increase new supply of social and affordable housing.”

The Property Leaders’ Summit is an invitation-only event that connects property investment decision makers from around the world with Australia’s political leaders, which today included Federal Minister for Climate Change and Energy, Chris Bowen, and Opposition Leader, Peter Dutton.

Rebecca Vassarotti MLA, ACT Minister for Homelessness and Housing Services, was not available for comment.

Canberra Daily is keen to hear from you about a story idea in the Canberra and surrounding region. Click here to submit a news tip.