How sharing a place can save you money
We’ve all dreamed of living in our city’s most salubrious suburbs. Unfortunately, hospo budgets, student life and a pandemic make it tricky to live the high-life. Or do they?
Source: Liz Seabrook
Sure, if you want an entire place to yourself, you’ll pay for the privilege with a studio in Bondi setting you back $650 a week, while a similar property on Melbourne’s Southbank, costing you an average of $435 per week.
But if you’re happy to share with others, you’ll be surprised how affordable these suburbs suddenly become. Nearly 50% cheaper in some cases!
So dust off your dreams and check these top suburbs for inspiration. Then, search for rooms in your dream location: you might just be surprised how affordable they are.
Potts Point, NSW
Average rent for one-bedroom/studio: $450
Average rent per room on Flatmates.com.au: $302
Weekly saving = $148
Located just a stroll through the gardens from Sydney’s CBD and perched on the edge of the Harbour, it’s easy to see why Potts Point is a haven for the rich and famous. And why shouldn’t you live your best life?
If you’re looking for a 1 bedroom apartment, you’ll pay 30% more than someone who’s willing to share: sharers will get away with around an extra $300 a month. Believe us, they’ll be glad they saved on rent when there’s so much great food and nightlife to enjoy. Drag Bingo anyone?
South Yarra, VIC
Source: realestate.com.au
Average rent for one-bedroom/studio: $350
Average rent per room on Flatmates.com.au: $261
Weekly saving = $89
Leafy, convenient and luxe South Yarra has long been popular with renters. With great public transport access and a good mix of heritage and new high-rise apartments, there’s something for everyone in this neighbourhood.
The average rental is around $350 a week here but if you’re willing to share, you’ll pay nearly $90 less per week on average. Perhaps you’ll spend some of those saved dollars sipping back on Negronis at Two Wrongs or buying some lush knit ensemble at Scanlan Theodore.
Fortitude Valley, QLD
Average rent for one-bedroom/studio: $375
Average rent per room on Flatmates.com.au: $249
Weekly saving = $126
Renowned for its pubs, bars and nightlife, as well as being home to Brisbane’s glorious Chinatown, Fortitude Valley is understandably popular with young professionals, students and other renters.
For the location, including proximity to the CBD, The Valley is surprisingly affordable — especially if you’re happy to share. You’ll save $126 on the average unit rental of $375 and you’ll have a stack more fun with your new flatmates than you would going solo hitting up all the highlights the suburb has to offer.
Perth, WA
Average rent for one-bedroom/studio: $420
Average rent per room on Flatmates.com.au: $230
Weekly saving = $190
For a fast-paced life with access to all the greatness that Perth has to offer, you can’t go past the CBD. With plenty of modern apartment living on offer, it attracts professionals of all ages, plus a good percentage of younger renters.
If you want a place to yourself in Perth, you’ll be paying near the top of the range of suburbs on this list. But if you’re willing to share, you’ll save around 36%: the average share house rental is a very reasonable $230 a week.
Sandy Bay, TAS
Source: realestate.com.au
Average rent for one-bedroom/studio: $420
Average rent per room on Flatmates.com.au: $199
Weekly saving = $221
Life in Hobart’s Sandy Bay ties entertaining nightlife to a beautiful coastline, swanky boutiques, gourmet food stores and lots of activewear, all nestled among those glorious hills. What’s not to love? The price for a unit, for one thing. At $420 per week, it’s higher than South Yarra!
That said, you’ll save much more than your South Yarra cousins if you share a place here. At $199, Sandy Bay’s average share house rent is the lowest on this list and more than half the price of a unit rental. Competition is fierce for places, though, so be quick if you get an offer.
Kingston, ACT
Average rent for one-bedroom/studio: $470
Average rent per room on Flatmates.com.au: $267
Weekly saving = $203
With all of its government employees, as well as its ergonomic layout, Canberra is known for being a pricey rental market and inner-city Kingston is right up there. You can expect to pay a pretty penny to live there, with one-bedrooms and studios averaging more than $470 a week.
But look into a share house and you can easily halve that weekly expenditure, plus you’ll be in a larger property and you’ll have flatmates to drag along on your adventures in the nation’s capital. Have you tried The Mint?!
Adelaide, SA
Source: realestate.com.au
Average rent for one-bedroom/studio: $390
Average rent per room on Flatmates.com.au: $209
Weekly saving = $181
Adelaide is known for its upbeat, uni-student-worker-shopper population, attracting students and professionals alike. With restaurants, cafes, parks and the river close by, this is probably the country’s most relaxing CBD — and the rental prices reflect that fact.
But did you know how affordable it is for flatmates? You can save nearly 50% on rent here if you’re willing to share! At an average of $209 per week for a room in a share house, Adelaide is definitely the place to live large on a budget.
Nightcliff, NT
Average rent for one-bedroom/studio: $360
Average rent per room on Flatmates.com.au: $202
Weekly saving = $158
If you like the great outdoors and consider yourself a bit of a greenie, you’ll love Nightcliff. With some of the city’s best sunset views and plenty of waterfront to enjoy as you wind down after work, it’s no wonder the place draws crowds from across Darwin each evening.
A room in a share house here will save you a pretty penny and living in a share house means you’ll also have a flatmate to head to the Nightcliff markets with. They can help you carry home your purchases (or carry you home if you kick on at the night markets well into the evening!)
Average room price current 12 May 2021, based on rooms listed on Flatmates.com.au in the previous six months. One bed properties and studios average price provided by Realestate.com.au, 12 May 2021.
