House prices on the up dominates election day down under.

Hello, you're listening to the Marketplace Morning Report,

and we're live from the BBC World Service.

I'm Leanna Byrne. Good morning.

Australians head to the polls tomorrow in what's being called a cost-of-living election,

with housing front and centre.

House prices there have soared over the past two decades. Since the pandemic, rents have shot up too, making it nearly impossible for many young people to save for a deposit. The BBC's Vivian Nunes reports from Melbourne.

Housing issues are front and centre of this election campaign. And I've come to a property that's open for inspection in Box Hill. That's just

about half an hour outside of central Melbourne. And I'm here with the real estate agent.

Daniel, thanks so much for letting me come and have a look at this house. Tell us about the property,

first of all. Well, this is a mid-century 1960s build. I call them old walk-up apartments with double-carported three bedrooms.

It is first floor, but it has a private little courtyard. We anticipate this will sell somewhere between around $550,000 and $600,000, ideal for sort of your first-home buyer market.

Around $600,000 Australian, we're talking about $380,000. How hard is it for first home buyers that you see coming in?

It is difficult for first home buyers to get into the market in these inner city fringe

sort of suburbs with the better facilities and infrastructure and transport and schools and

the likes. $600,000 Australian dollars is a substantial amount of money, particularly when the home

really could undergo a major renovation

in order to get it up to today's living standards.

I think we've got a prospective buyer coming in, so I'll let you go and have a chat.

Thank you.

My name's Chanel, so I'm 32.

It is challenging for people to get into the market at this point, and I'm definitely

...