Struggling to find an affordable place to rent?
You’re not alone, as many turn to sharehousing in an effort to have a roof over their head in a way that won’t break the budget.
And it’s not just the young turning to the housing style that has typically been the preference of uni students and those moving out of home for the first time.
New data from the Flatmates.com.au National Share Accommodation Survey, which polled over 4500 Australians, showed there had been a surge in the number of older Australians seeking share accommodation.
Of those respondents, 15 per cent were aged 55-64 – a significant jump on 9 per cent this time last year.
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The good news is there’s a good number of listings available for them.
Adelaide city, perhaps unsurprisingly, has the greatest number of active listings on the site with 688 current sharehouse advertisements.
Norwood in Adelaide’s east, has the second-highest number of listings, at 275, ahead of Prospect with 236, Glenelg with 234, Unley’s 218 and North Adelaide’s 176.
Henley Beach, Mile End, Marion and Mawson Lakes rounded out the top 10 with 144, 107, 104 and 103 respectively.
SA’s sharehousing hotspots have revealed, and it’s great news for those who love city living.
On a positive note, it was reported share housing was helping respondents achieve their financial goals, with 71 per cent saying they were actively saving money as a result – this at a time where the majority of people are spending more than 30 per cent on their rental payments.
According to recent PropTrack data, mortgage repayments for a median-priced SA home now equate to 40 per cent of the average household income in June, and they were at a record-high 41 per cent in March – the highest in history.
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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.
The number of older Australians seeking sharehousing is increasing.
“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.”
- with Lydia Kellner
English (US) · 