Demand for share houses doubles in 12 months

• Demand for share houses doubles in 12 months
• Record numbers of new members joining house-sharing platforms
• Increasing demand for share accommodation among older Australians

The rental crisis continues to get worse with new data showing that renters have flocked to share houses over the past 12 months in a bid to find somewhere to live.

According to Flatmates.com.au, 69,400 new members joined the house-sharing platform in May, up 36.6% from a record April and a staggering 103% higher than May 2022.

With record low vacancy rates, Western Australia featured a number of suburbs where demand for share houses is the highest.

In May, East Perth had 255 people seeking just one available room, followed by inner-city Northbridge which had 164 people also searching and just one room available.

In Sydney’s CBD, 133 seekers were on the platform, however, there were no available rooms.

Cremorne, in Victoria, had 120 people looking for a room, also with none available.

Holland Park was the tightest location in Brisbane with 119 people seeking just one available room.

Bangaroo in Sydney also had no rooms available but 106 people looking, Henlsey Beach in South Australia had 102 people looking and just one room, followed by Highgate in WA with 95 people looking for a room and just one available.

Milton in Queensland had 288 people looking for a room with three available, while East Melbourne had 277 seekers and three rooms.

10 most in demand suburbs – national

Source: Flatmates.com.au

Demand is up

Claudia Conley, Flatmates.com.au Community Manager, said there has been a significant increase in demand for share accommodation across Australia over the past six months.

“Traffic started to increase in October last year on Flatmates.com.au and has not died down, even after our usual ‘peak season’ ended at the end of February,” said Conley.

“Month after month, we’re breaking new records on Flatmates.com.au and in May, we welcomed almost 70,000 new members, the highest number of new monthly members on record.”

Older people sharing

Conley said the demographics of people using the platform are also shifting.

“While our core demographic is still members aged 25-34, members under the age of 35 have decreased 10% in the past year and members aged 45-65 have increased by 10%.”

“For our younger demographic who have the option, many are choosing to stay at home for longer due to the rising cost of living.

“Our older demographic may be looking to rent out their spare room for extra cash as the cost-of-living bites.”

Conley said, older Australians are also looking for share accommodation but it’s not always for financial reasons.

“Companionship, fighting loneliness, the safety of having someone around and someone to share household chores with are just some of the many benefits associated with shared living.”

“Homeowners and empty nesters renting out their spare rooms could also help take some pressure off the rental crisis.”