The traditional image of the student share house is dead.
A new survey had revealed the brutal reality of Australia’s cost-of-living crisis, which had forced a dramatic demographic shift in shared accommodation, with older Australians then a significant and growing cohort.
The Flatmates.com.au National Share Accommodation Survey, which polled over 4500 Australians, exposed how financial pressures were reshaping our living arrangements.
A staggering 55 per cent of respondents cited the cost of living as their primary driver for moving into shared housing.
For those offering a spare room, 58 per cent did so due to rate rises and financial stress, while 45 per cent seeking a room simply couldn’t afford a property alone.
But the most striking finding was the surge in older Australians embracing shared living.
A significant 15 per cent of respondents were aged 55-64, a sharp increase from just 9 per cent the previous year.
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Source: Flatmates
Despite the financial impetus, shared living was proving to be a practical solution for many.
A reassuring 71 per cent of those seeking a room reported saving money as a direct result of their share house arrangement.
Beyond the financial benefits, the survey also highlighted the human element, with 11 per cent citing companionship and friendship as a key motivator.
Almost half of all respondents (one in two) even reported that their share house truly felt like home, and the average relationship rating with flatmates stood at a healthy 4.2 out of 5.
Leith Donaldson, Head of Product at Flatmates.com.au, emphasised the gravity of the findings. “It was evident that Australians were feeling the pinch, with almost six in 10 respondents identifying cost of living as their key reason for moving into shared living,” she said.
“Shared accommodation was increasingly viewed as a practical solution to the cost-of-living crisis, and as a result, the demographics were shifting.
“Older Australians were a growing cohort in share houses, with 15 per cent of respondents over 55. This defied the common perception that share house living was mostly for students or younger people.”
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Most in demand suburbs for shared housing. Source: Flatmates
“In fact, the majority of the Flatmates.com.au audience were not currently studying at all.”
The survey also revealed a sobering outlook on property ownership, with seven in 10 respondents believing the Australian dream of owning a property was then unattainable for young people.
It found the most in-demand suburbs for flat sharing were Surry Hills in Sydney with 3127 active listings.
Bondi Beach followed in close second with 2653 listings, while Coogee, also in NSW, rounded out the top three with 2130 listings.
Other flat sharing hot spots included Melbourne, Brisbane City, Bondi Junction, Randwick, Newtown, Burleigh Heads and Perth.
“Looking forward, seven in 10 respondents said the cost of living had impacted their property plans for the next few years, so we could expect to see more Australians from all demographics turning to shared accommodation,” Mr Donaldson said.
“Though the Australian dream of owning property might feel distant for some, it was amazing to know that nearly half of respondents believed their share house truly felt like home in the meantime.”
Steven Ralph at his home in Perth. Source: Nine News
He shares his home with two other people who have become life long friends. Source: Nine News
For 68-year-old Perth man Steven Ralph, moving into a shared space had been a financial life saver.
“It wasn’t about it being fussy either. You really just had to take the opportunities where they lay,” he told Nine News.
“I lived with a very friendly, amiable man and another lady who both had become lifelong friends.”
It was estimated over one million Aussies would be living in group households by 2046.
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