Shared accommodation is becoming more prevalent in Melbourne according to new figures from an online share accommodation portal.
In analysing the accommodation listed on its website over the first six months of 2015, Flatmaates.com.au found that there had been a significant increase in Melbourne listings compared to the same period in 2014.
New room listings on the site surged over 110% in the first six months this year compared with the same period in 2014, while shared rooms soared by 250%.
The cost of renting a room also increased, with the average price for a private room rising in the first half of 2015 to $207.75 per week, up 3.4% from $200.98 in 2014.
The average weekly cost of a bed followed suit, rising from $175.52 in 2014 to $181.17 this year, a 3.2% increase.
Flatmates.com.au general manager Thomas Clement said the increases are likely the result of drop in the availability of affordable accommodation in the city of the last 12 months.
“Those who once rented alone, are now offering up their spare rooms to help subsidise rental and living costs,” Clement said
“Inner-city low-income earners, such as students, are now looking to share rooms in an effort to remain close to their campus and workplaces.”
While the number of listings may be up, Clement doesn’t believe there will be a shortage of people looking for a place to live, with serious competition for rooms occurring in the past/
“Earlier this year we saw as many as 40 people grappling for each room listed in Fitzroy, so the increase in property listings has given those looking far more choice.”
With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now
Top Suburbs :
east victoria park
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out