Demand for share accommodation has reached new heights as cost-of-living pressures and a lack of supply push many renters into the share house market.
New data shows that in some share housing hotspots, hundreds of home seekers are competing over just a handful of properties.
Share accommodation website Flatmates.com.au recorded over one million visits and 212,000 active members in January - its biggest month for active members on record, and up 6% year-on-year.
January is the busiest time of year for the rental market as students from interstate and overseas return to campuses ahead of the beginning of a new term, and many workers arrive to look for, or start, new jobs.
But, with record low numbers of available rental accommodation and a cost-of-living crisis in full swing, many renters are turning to the share house market to find a place to live.
67,700 new members joined Flatmates.com.au in January and at the same time there was an 18.8% increase in new property listings compared to January 2023.
Despite this, the number of potential renters significantly outweighs the number of available properties in some locations.
Across the country, the suburb where demand is most outstripping supply is Tamarama in the Eastern Suburbs of Sydney, where there were 344 seekers per one room available in January.
| Suburb | State | People Listings | Rooms |
| Tamarama | NSW | 344 | 1 |
| Bronte | NSW | 846 | 4 |
| East Perth | WA | 388 | 2 |
| Elizabeth Bay | NSW | 188 | 0 |
| Clovelly | NSW | 525 | 3 |
| Fitzroy | VIC | 1,738 | 10 |
| Malvern | VIC | 301 | 2 |
| Barangaroo | NSW | 138 | 1 |
| Highgate | WA | 132 | 0 |
| Fitzroy North | VIC | 374 | 3 |
| Curl Curl | NSW | 123 | 0 |
Other top locations with very few available rooms were Bronte, also in Sydney's Eastern Suburbs and East Perth.
Three very popular suburbs in Melbourne made the list; Fitzroy, Malvern, and Fitzroy North.
Vacancy rates for rental properties are extremely low in these suburbs, with only 0.54% of rentals available in Fitzroy, 0.57% in Fitzroy North, and 1.21% in Malvern.
In Fitzroy there were 1,738 people in January looking a room to rent, but only 10 available options.
In Malvern, there were only 2 properties, compared to 3 in Fitzroy North.
In the other capital cities there were also many suburbs with limited or no supply of rooms to rent.
| City | Suburb | People Listings | Rooms |
| Sydney | Tamarama | 344 | 1 |
| Sydney | Bronte | 846 | 4 |
| Sydney | Elizabeth Bay | 188 | 0 |
| Melbourne | Fitzroy | 1,738 | 10 |
| Melbourne | Malvern | 301 | 2 |
| Melbourne | Fitzroy North | 374 | 3 |
| Brisbane | Mount Gravatt | 323 | 5 |
| Brisbane | Eagle Farm | 60 | 0 |
| Brisbane | Graceville | 55 | 1 |
| Adelaide | Brighton | 105 | 0 |
| Adelaide | Glenelg | 314 | 4 |
| Adelaide | Marion | 133 | 2 |
| Hobart | North Hobart | 148 | 3 |
| Hobart | Dynnyrne | 29 | 0 |
| Hobart | Bellerive | 27 | 1 |
| Perth | East Perth | 388 | 2 |
| Perth | Highgate | 132 | 0 |
| Perth | Mosman Park | 128 | 0 |
| Canberra | Acton | 95 | 0 |
| Canberra | Deakin | 65 | 0 |
| Canberra | Ainslie | 127 | 2 |
| Darwin | Casuarina | 37 | 0 |
| Darwin | Palmerston City | 23 | 0 |
| Darwin | Cullen Bay | 17 | 0 |
In Darwin, the top three suburbs with the highest seeker to lister ratios have zero rooms available.
These suburbs were Casuarina, Palmerston City, and Cullen Bay.
A number of other suburbs in the capital cities had no rooms available but a high number of persons looking for accommodation.
These included Eagle Farm in Brisbane, Brighton in Adelaide, and Mosman Park in Perth.
The lack of rooms available to rent, across the country, is a great opportunity for owners who have spare rooms that remain empty.
Demand for accommodation is so high and there is money to be made by renting out unused bedrooms and at the same time helping someone find a place to live, when available rental accommodation is at record low levels.
Read more property data insights:
Why more renters now prefer smaller units over larger houses
Why unit rents are growing faster than houses
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