Australia Votes: Election Pivots on Cost of Living and Housing Crisis

Australia's general election, marked by compulsory voting, sees cost of living and housing issues at the forefront. Labour seeks a re-election against a backdrop of economic challenges. The rise in inflation and interest rates has created financial strains, possibly leading to a minority government outcome.

Australia heads to the polls, addressing significant issues such as the cost of living and housing shortages. The general election, featuring compulsory voting, is crucial for the governing Labour Party led by Prime Minister Anthony Albanese, as they seek another term amidst economic challenges.

Both Labour and the opposition, led by Peter Dutton, highlight the economic pressures faced by voters. Inflation, which peaked at 7.8% in 2022, alongside interest rate hikes by the central bank, have hampered financial stability, intensifying the election atmosphere.

Demographic shifts and policy proposals on nuclear energy and renewables add depth to the campaign dialogue. With younger voters outnumbering Baby Boomers for the first time, the election could see a shift towards a minority government depending on the voters' response to economic strains and political promises.

(With inputs from agencies.)