Listings also up, but still not enough
Demand for share accommodation is increasing ahead of peak season, according to new data from Flatmates.com.au, part of REA Group.
Flatmates.com.au saw a higher than usual growth in demand in October, with 11.2% more new members joining the platform for shared accommodations over the past month, up from a busy September and surpassing October 2022’s figures by 15.6%.
“October has been our fourth busiest month on the platform this year, following our usual peak summer period,” said Claudia Conley (pictured above), community manager at Flatmates.com.au. “The volume of traffic seen on Flatmates.com.au in October typically doesn't peak until December, indicating a heightened demand for shared accommodations well ahead of the usual season.
“2023 has been Flatmates.com.au's busiest year on record, due to a record-breaking summer and without our typical seasonal winter slump. It's clear more Australians are turning to share accommodation as pressures on the rental market and a cost-of-living crisis fail to die down.”
The number of property listings on Flatmates.com.au also surged in October, up 9.7% over the month and higher by 38% compared to the same period last year.
The rising cost of living appears to be a significant driver behind this surge, as more homeowners seek to generate additional income by renting out their spare rooms.
“Half of all property listings on Flatmates.com.au are from homeowners, with the majority of these being live-in landlords renting out a spare room in their home,” Conley said. “Despite this growing trend, more property listings are still needed across the country to keep up with the growing demand for share accommodation.”
Amid a tight rental market and a growing affordability crisis, demand for house share living has reached unprecedented levels. In certain suburbs, the demand for available rooms has far outstripped the supply, with hundreds of people actively searching for each room.
Clovelly, NSW (516 seekers), East Perth, WA (350 seekers), and Elizabeth Bay, NSW (188 seekers), have witnessed the highest demand for share accommodations, with no rooms available despite the significant number of seekers.
Below is the list of top 10 suburbs with the most demand but no supply – National
|
Suburb |
Number of people looking for a room |
Rooms |
|
Clovelly, NSW |
516 |
0 |
|
East Perth, WA |
350 |
0 |
|
Elizabeth Bay, NSW |
188 |
0 |
|
Curl Curl, NSW |
148 |
0 |
|
South Coogee, NSW |
146 |
0 |
|
City of Sydney, NSW |
139 |
0 |
|
Barangaroo, NSW |
132 |
0 |
|
Mosman Park, WA |
126 |
0 |
|
Highgate, WA |
124 |
0 |
|
City Beach, WA |
108 |
0 |
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