Simonelle Mody was finally able to move from Perth to Sydney this year after dreaming since childhood of being close to the action in the bigger city. But she quickly bumped up against exorbitant rents and a lack of options in the areas where she wanted to live.

The solution for Ms Mody, 25, was an emerging type of housing called co-living accommodation that could help solve the housing shortage. The finance professional likens it to a modern-day boarding house.