Hampton Park and Doveton were among suburbs across the country which topped a Rent.com.au list showing the suburbs where renters could save the most by entering into shared housing. Hampton Park was at seventh place across the country and in second place across Victoria, with an estimated saving of 53 per cent per bedroom and the median weekly rental cost ranging from $330 for a one-bedroom unit to $400 for a four-bedroom unit.
Doveton came in at 18th place, with an estimated saving of 50 per cent per bedroom and the median weekly rental price ranging from $280 for a one-bedroom unit to $450 for a four-bedroom unit.
By splitting the rent and utilities with housemates, renters have saved money while enjoying a more affordable housing option and helping to ease the national rental crisis, as filling vacant rooms reduces the demand for new housing construction, which can potentially lower housing costs in high-demand and low-vacancy areas.
Rent.com.au chief executive Greg Bader said the popularity of house sharing had gone through ebbs and flows during the past couple of years.
“It saw a substantial drop during COVID as people began working from home and prioritised having their own space,” he said.
“In 2023, we’ve seen a real lift in the number of people sharing houses, driven largely by record low property availability and the resulting rental increases that come with low vacancy rates.”
Mr Bader said share housing had always been attractive for young renters and those entering the workforce with limited budgets.
“However, what we’re now seeing a real broadening in the market, with people from all age groups embracing house-sharing,” he said.
“While cost is still a major driver, the trend also caters to those seeking to maintain their preferred lifestyle, including living in an area they love.”
Mr Bader said there were a number of benefits to share housing.
“The savings on rent and utilities are self-evident, but there are other soft advantages too,” he said.
“If you’re new to an area, living with housemates can be a great way to expand your social circle and discover hidden gems in your community.
“However, it’s important to approach sharing with the right mindset and be prepared to compromise.
Mr Bader said share housing should be considered as an option for the right renter.
“Splitting rooms, parking, and chores can be a challenge, but with the right approach, you could save money on rent and make lasting friendships,” he said.
“Remember, sharing isn’t for everyone, but it’s worth considering for those looking to cut costs and build connections.”
