Australia's most valuable spare rooms

on 30 August 2016 by Aaron

Ever insisted on renting or buying a place with an extra room as a ‘just in case’?

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We’ve all done it. A spare room for relatives visiting for the weekend, or a space to nurture that yet to be decided hobby—scrapbooking, perhaps.

Initially, it seemed like a brilliant idea.

Except, those plans never really turned out. Let’s face it, you’d prefer your family stay in a hotel, and you can barely commit to a houseplant, let alone scrapbooking. So now that ‘extra room’ sits empty (save for the ironing you’re avoiding) and it could be costing you big time.

Recent data from Flatmates.com.au shows your spare room has the potential to be an absolute goldmine and it would pay you, literally, to clean it out and get a flatmate.

According to the data, an average spare room in Australia is now worth $197 per week, or a healthy $10,200 a year. Astoundingly, that number could almost double if you’ve got a spare room in Australia’s most valuable suburb, Darling Point, where the average room is worth a whopping $387 a week.

Here’s a summary of the most valuable suburbs per city. You can also check what yours is worth at Value My Room.

Sydney

image Room with a view, Annandale St, Darling Point

Rank Suburb Average Rent Per Week Yearly Equivalent
1 Darling Point $387 $20,099
2 Milsons Point $380 $19,760
3 Point Piper $376 $19,537
4 Pyrmont $370 $19,236
5 Elizabeth Bay $369 $19,208

Melbourne

image Room listing, Collins St, Docklands

Rank Suburb Average Rent Per Week Yearly Equivalent
1 Docklands $302 $15,704
2 Southbank $296 $15,392
3 Melbourne CBD $280 $14,560
4 Fitzroy $279 $14,508
5 Port Melbourne $276 $14,352

Brisbane

image Room listing, Crown St South Brisbane

Rank Suburb Average Rent Per Week Yearly Equivalent
1 South Brisbane $273 $14,196
2 Brisbane City $263 $13,676
3 Newstead $251 $13,052
4 Fortitude Valley $250 $13,000
5 Teneriffe $249 $12,948

Perth

image Room listing, Terrace Rd, East Perth

Rank Suburb Average Rent Per Week Yearly Equivalent
1 East Perth $256 $13,312
2 Cottesloe $251 $13,052
3 North Fremantle $250 $13,000
4 North Coogee $247 $12,844
5 Burswood $245 $12,740

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  • Aaron
  • media@flatmates.com.au
  • Aaron is the Flatmates.com.au's Community Manager and PR guy. He is an avid supporter and user of share accommodation, currently living with two (lucky) flatmates.