This room for rent in Fannie Bay is listed for $260 per week. Picture: Flatmates.com.au
The cost to rent a room in Darwin has soared by as much as 54 per cent in the past year with tenants paying $280 on average for a single room in shared accommodation in the Territory’s capital.
The annual Flatmates.com.au National Share Accommodation Survey (NSAS) results revealed the median weekly room price in Darwin increased 4.5 per cent year-on-year to sit at $280.
The survey found the cost per room had shot up the most in Larrakeyah where the median weekly price skyrocketed 54.5 per cent to $290.
Coming in second was Malak where the average cost of a room jumped 45.7 per cent to $241 a week.
In Nightcliff, tenants were paying an average of $250 a week for a room, which was 41.7 per cent more than a year ago.
A bedroom in this Larrakeyah apartment with views over Cullen Bay Marina is available for $270 per week. Picture: Flatmates.com.au
When it came to the priciest room, Leanyer and Wagaman reigned supreme with share-housers forking out $340 a week on average.
In third spot was Muirhead, where the median cost of a room was $325 per week.
Rounding out the top five were Stuart Park ($300) and Larrakeyah ($290).
Flatmates.com.au product manager, Claudia Conley said with the survey attracting more than 8,700 respondents from across Australia, the results provide a comprehensive snapshot of the country’s evolving housing landscape.
“Ongoing cost of living pressures over the past 12 months have reshaped how Australians approach housing, with 43 per cent of respondents saying affordability constraints have pushed them into share accommodation,” she said.
“Additionally, 35 per cent of renters have faced rent increases in the past six months, with half of these hikes exceeding expectations, highlighting the growing financial strain on tenants.
“With 57 per cent of respondents struggling to keep up with rent payments over the past year, the effects of the rental crisis remain present for many Australians.
“Furthermore, the sentiment among 55 per cent of survey respondents that property ownership is out of reach for young people highlights the growing sense of uncertainty about long-term housing security.”
Flatmates.com.au product manager, Claudia Conley. Photo: Supplied
The survey found a higher proportion of members aged over 55 entered share housing arrangements, up 7 per cent year-on-year, with the 75+ age group the fastest growing demographic.
“Half of respondents over 55 did so through financial necessity, however there was also a 30 per cent rise in respondents opting for shared living for the companionship that it offers,” Ms Conley said.
The survey found of the respondents who have listed a room on Flatmates.com.au, 36 per cent have an additional unoccupied room, with 72 per cent of those aiming to lease the space to manage rising rent costs and financial pressures.
“With the rising cost of living, renting out a spare room is fast becoming an attractive option for many Australians seeking a second income stream,” Ms Conley said.
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