Sad state of Australia’s housing market seen in Brisbane’s growing tent city with some people saying it’s the worst they’ve ever seen: ‘What have we become?’

Shocking footage has revealed dozens of Aussies are now moving into a growing tent city in a picturesque waterfront park in one of Australia's capitals.

The images, posted online on Wednesday, show groups of tents set up along the Brisbane River, between the William Jolly and Go Between bridges in the south Brisbane suburb.

Many of the tents can be seen huddled under large trees, while the park's benches and seats appear to be used as drying racks.

The video caught the attention of Brisbaneans who say the problem of homelessness is getting worse across the country.

The shocking scene follows record housing and rental prices, sending the number of homeless Australians soaring.

The Reddit post noted that the park “seems like a safe place to go for people who haven't been approved for housing,” but reflected a much larger problem.

“It is clear that something is wrong and greed in real estate has been increasing since the pandemic,” the message read.

'I hope that the housing and rental market will improve quickly.'

Hundreds of shocked users commented on the post, claiming they had seen other tent cities in Brisbane and elsewhere in Australia.

One user said there had been tents in the park for at least five years, but this is definitely the worst I've ever seen.

“The tents have also returned to Musgrave Park in the West End,” a second user wrote, describing it as “soul destroying.”

“Worst thing I've ever seen Brisbane and having lived here for 20 years,” wrote a third.

'I've seen tent cities in Los Angeles and Washington, I never thought I'd see a similar situation in Australia. What have we become?' another person complained.

“The idea that we would have even one homeless person in the city was laughable just five years ago,” another noted.

Another user admitted that he got closer because he had to live in a tent, but he was “aiming for tents on the beach.”

Images from the Brisbane River waterfront show a growing tent city of homeless people amid housing and cost of living crises (pictured)

The tents can be seen clustered under trees between the William Jolly and Go Between bridges in the inner-city suburb of South Brisbane.

Brisbane's vacancy rate has remained below 1 per cent for all but one of the 20 months leading up to October.

In the same period, rents have increased by 25 percent and housing costs by approximately 18 percent.

Queensland has seen the largest increase in homelessness assistance requests of any state, according to a report from Homeless Australia.

According to the Homelessness Peak Agency, 16,225 people requested assistance in the state in March 2023, a 12.9 percent increase from December 2022.

Western Australia and New South Wales followed closely behind with increases of more than 11 and 10 percent respectively, while the national figure saw a 7.5 percent increase in the number of people seeking help.

Homelessness Australia found that 83 percent of the approximately 95,000 people seeking help nationwide did so because of “housing issues or financial stress.”

The body's chief executive, Kate Colvin, said the 7.5 per cent increase was unprecedented and had put pressure on homelessness services.

“A 7.5 percent increase in demand in just four months is unheard of,” Ms. Colvin said.

“It forces homelessness services to make extremely difficult decisions about who gets help.”