Where renting a room has climbed by $125 in 12 months

More than half of Australian renters struggled to meet their rent repayments this year, a new report shows, with rooms in share housing jumping by a whopping $125 a week in one SA suburb over the past 12 months.

According to Flatmates.com.au’s annual National Share Accommodation Survey, which surveyed more than 8700 renters and landlords across Australia, 57 per cent of renters had difficulty making their rental repayments over the past year.

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This is up 14 per cent on the previous 12 months, and was a large part of the reason so many look at share housing as a way of mitigating financial hardship.

The report also found while the main reason (72.5 per cent) for seeking out share accommodation was the financial benefit, almost one in five – 18.5 per cent – surveyed said they valued the friendships formed through shared housing.

A higher number of older Australians are entering share housing, with the over-75s the fastest growing demographic in 2024.

Share housing is on the rise in SA. Picture: iStock

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The number of over-55s has jumped 7 per cent of the previous year, while nearly half (48 per cent) of room seekers said they would be willing to live in a ‘home share’ scenario here rent is drastically reduced in exchange for 10 hours of work around the home a week.

Of the homeowners who participated in the study, more than a third of them – 36 per cent – decided to offer their home as a share house for the first time this year.

Flatmates.com.au product manager Claudia Conley said that ongoing cost of living pressures

over the past 12 months had reshaped how Australians approached housing, with 43 per cent of respondents saying affordability constraints had pushed them into share accommodation.

Product manager at Flatmates.com.au Claudia Conley Photo: Supplied

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“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,” Ms Conley said.

“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.”

Share accommodation in Elizabeth Downs had the largest percentage increase over the past 12 months, with the weekly median room rate increasing by 58.8 per cent year-on-year from $170 to $270.

SA’s renters are throwing big money at share houses. Pic: iStock

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Rooms in Ottoway increased by 56.3 per cent from $160 last October to $250 this October.

But it was the third placed suburb for percentage increase, Marino, that experienced the highest dollar hike per week, with rooms there soaring by a whopping $125 per week from $225 to $350.

“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,” Ms Conley said.

SA’s skyrocketing share house costs