Property

There’s money in that spare room

Renting a room is becoming popular as prices push many out of home ownership and into the rental market.
Renting a room is becoming popular as prices push many out of home ownership and into the rental market. Monkey Business Images Ltd

REMEMBER that unwashed, curled toenailed bloke who slept on your couch for a while after high school and got scurvy from ingesting only noodles and cask wine?

Well, the art of procuring random roomies has shifted.

Share accommodation website Flatmates.com.au says its average user is 27 years old with a full-time job.

It also says the average household in the Wide Bay Burnett and Gladstone regions would pull in an extra $143.47 a week - or $7455.24 a year - by subletting a vacant room.

You may err on the side of scepticism, and rightly so.

This person will share your home, your bathroom and, if your interview process was lax, your toothbrush - but plenty of Australians are taking the subletting route.

The company reviewed 61,381 vacancy listings from last year to find the average room fee.

The Australian norm was $183 each week, just over $9000 a year. But rooms in Sydney's Northern Beaches went for $290 a week or about $15,000 each year on average.

"With many people now priced out of the rental and homeowner markets, share accommodation has become the most affordable option for many people," website managing director Thomas Clement said.

"Our average user is 27 years old, works full time and is generally looking for a comfortable home with good amenities."

The figures showed the demand for share accommodation in some capital cities was as high as four people looking to every one room listed.

"It is very much a lister's market, so those leasing are sure to find someone who fits their home perfectly."

- APN Newsdesk

Average weekly room rental costs by capital city

  •  Sydney - $257.09
  •  Melbourne - $200.76
  •  Perth - $200.44
  •  Brisbane - $187.65
  •  Canberra - $185.05
  •  Adelaide - $166.49

Highest average weekly room rental costs by area

  •  Sydney's Northern Beaches - $290.26
  •  Sydney's Lower North-shore - $281.66
  •  Sydney's Eastern Suburbs - $272.59
  •  Sydney City Centre - $267.30
  •  Sydney's Inner-West - $264.12
  •  Sydney's Upper North-shore - $254.48
  •  Perth City Centre - $246.56
  •  Melbourne City Centre - $238.63

Topics:  accomodation, fraser coast, hervey bay, maryborough, renting




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The improvement would be mild when compared to past cycles