Brisbane tenants increase their reliance on sharing

Traditionally more popular in the more expensive rental markets such as Sydney and Melbourne, share accommodation appears to be gaining popularity around the country.

Figures from on-line share accommodation search service flatmates.com.au, show the listings of rooms for rent in Brisbane shot up by 140% over the first quarter of 2015. 

The increase in listings was also accompanied by a rise in the average weekly asking rent for a room in the Queensland capital, which jumped from $182.17 to $194.86 in the 12 months to the end of March 2015.

Flatmates.com.au general manager Thomas Clement said the increased popularity of share accommodation in Brisbane had come as a surprise.

“Sydney and Melbourne have always been share accommodation centres due to their population, size and high rent costs.” Clement said.

“We expected growth across all capital cities, but to see Brisbane’s interest in sharing more than triple in less than 12 months was definitely unexpected.”

Despite listings in Sydney increasing by almost 80% over the same period, through the March quarter Brisbane became top share accommodation market in the country, with Clement pointing to a possible increase in the cost of living as the main driver for the change.

"Historically, rental prices in Brisbane have been at a more manageable level compared with Sydney and Melbourne, where share accommodation is the only option for many people to rent,” he said.

“However, the rising cost of living in Brisbane could be one factor that is forcing more people to share accommodation.”

St Lucia was the most popular share accommodation suburb in Brisbane closely followed by Spring Hill and the CBD.

The South Brisbane suburb of Dutton Park was the most expensive place to rent a room with the average price hovering at $276.04 per week, while the most affordable was Sunnybank Hills with an average of $148.35 per week.
 

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