Demand for rooms outstrips supply
by Aaron Wischusen
Released: 25 November 2016
Data released by Flatmates.com.au has revealed demand in some city suburbs is outpacing supply by as much as 59 to one, despite being a month out from the industry peak period.
Sydney City was the most in demand with 59 people looking per room listed, followed by Melbourne’s Fitzroy and Sydney’s Surry Hills with 52 and 43 to one, respectively.
Sydney suburbs accounted for 13 of the top 20 most in demand, followed by the Gold Coast with four and Melbourne with three.
Queensland’s Broadbeach was the most sought after for the state with 41 people looking per room listed.
The data—based on room wanted profiles versus the number of rooms listed for each suburb—also revealed the national demand ratio was sitting at seven people per room listed.
Flatmates.com.au Chief executive officer, Thomas Clement, said the high cost of renting in some suburbs coupled with limited stock in others was driving up competition for rooms.
“We usually don’t see this kind of competition for rooms until January–February, which is the peak period for shared accommodation,” said Clement.
Clement explained the peak periods were driven by university students commencing study, workers moving for jobs and international travellers arriving with working holiday visas for summer.
“Noting we are seeing such huge demand for these areas already, my advice would be that those who know they need to move in the new year should not leave their search to the last minute. Particularly students, who will find the cheaper rooms close to universities will go first.”
Clement offered three pieces of advice to those looking to secure a place this summer: 1. “Keep enquiring on potential listings until you’ve confirmed a place”; 2. “Always inspect a property in person and meet the flatmates”; 3. “Get the details about your agreement in writing before you move in”.