Australia's worst floods on record in the east of the country earlier this year destroyed homes and forced about 40,000 people to evacuate, adding to the housing crisis. SEEKING SOLUTIONS Property owners say rising costs are forcing them to raise rents. "Cost pressures include rising interest rates, rising maintenance costs, and other related costs such as strata fees and council fees," said Debra Beck-Mewing, Strategic Buyers Agent and Vice President of Property Owners Association of New South Wales.