Rental woes continue for hopeful househunters

As cost-of-living pressures increase, those with empty bedrooms are putting them up for lease – but it’s not just about the money. For some, companionship’s priceless. Would you consider it?

Hopeful househunters are increasingly turning to share housing, fuelled by either increasing cost-of-living pressures or the desire for companionship, new data from room rent site Flatmates.com.au shows.

Looking at the site’s May figures, spare rooms were hardest to find in Henley Beach, where 102 people were competing for just the one room advertised as available.

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Things weren’t much better in Plympton, where 89 people were vying for one room, and Bowden, where there was one room for 81 hopefuls.

Flatmates.com.au community manager Claudia Conley said the number of users aged 45 to 65 was up 10 per cent on this time last year.

“Many empty-nesters are looking at their spare rooms gathering dust and realising that they could be sitting on a goldmine – or at least a deposit for that long-awaited Winnebago,” she said. “A room in Adelaide’s Norwood could earn you an average of $257 a week.

“Older Australians are entering into share accommodation for reasons other than financial too – it can be lonely out there.”

Flatmates.com.au community manager Claudia Conley

Despite the number of rooms listed for rent on the site increasing 11 per cent month on month, Ms Conley said the number of people looking for accommodation far outstrips supply.

Turner Real Estate chief executive Emma Slape – whose agency doesn’t deal with share rooms – said the rental market had changed over the past 3-4 months.

“Tenant inquiry is starting to lower, but stock levels are also remaining low,” she said.

“For families seeking a larger home, the market is still incredibly tight due to the amount of stock … sold from the rental market over the past two years. In the unit market, we have seen a similar amount of stock remain … however, people who were previously seeking a small home have moved to this market, due to availability and affordability.

Emma Slape from Turner Real Estate. Picture: Brenton Edwards

“What we are seeing actively in the market is investors moving back into an investment property or leasing it to a family or close friend who has struggled to secure a home to suit their needs.”

Hopeful tenant Krystayna, 77 who did not wish to disclose her surname, is staying with a friend after returning to SA from overseas and said it was difficult to find a rental.

Hopeful tenant Krystayna outside one of the 40 rental opens she has been to in the past two months. Despite having no joy so far, she remains hopeful. Picture: Keryn Stevens

“It’s very frustrating – today I went to two opens and there were about 30 people at one of them,” she said.

“I’ve been to about 40 viewings over the past two months.

“You lose self-confidence and get disappointed … hopefully luck will turn around and one will come my way. I’m very hopeful I’ll find one.”