The suburbs where demand for share housing has hit historic highs
Some parts of Sydney have hundreds of people competing for just a single room listing
2 min
Demand for share housing has soared as cost of living pressures and a tight rental market push more renters out of single person households.
Data from Flatmates.com.au reveals January recorded the highest month for active members on record, with 212,000 members and more than one million visits to the site.
Membership also rose significantly over January, up 22 percent month on month, with more than 67,000 new members joining the platform.
Demand for share households in Sydney was highest for the eastern suburbs, with 344 people competing for just one listed room in Tamarama. Those seeking a room in Bronte did not fare much better, with 846 people seeking space and just four rooms available. Elizabeth Bay, Clovelly and the Northern Beaches suburb of Curl Curl all made the top 10 of most in-demand areas to live. Three inner circle suburbs in Melbourne — Fitzroy, Malvern and Fitzroy North — were also in high demand, with 1,738 people on the site interested in renting in Fitzroy and just 10 rooms available.
Community manager for Flatmates.com.au Claudia Conley, said January was traditionally a busy time for the site, with cost of living pressures further motivating renters to engage in shared household arrangements. An 18.8 percent increase in property listings over the past year had done little to address the imbalance between supply and demand, she said.
“January is the busiest month of the year for share accommodation with lots of domestic and international travel across cities and states,” Ms Conley said. “The university semester is about to start, many members are looking to move for new jobs, most leases are renewed at this time of year, and migration is high as people flock to Australia for that quintessential Aussie summer experience.
“Add to this a cost-of-living and rental crisis leading even more people to turn to share accommodation than usual, it’s no surprise that this January has been our busiest month ever.”
The PropTrack Rental Report December 2023 showed rental stock at historic lows, down 4.6 percent on December 2022 and 20.7 percent lower than the 10-year average for the month. Higher demand has been followed by higher rents. Over 2023, median advertised rent of realestate.com.au rose 11.5 percent over the year to $580 per week.
BNW Developments has established a Sydney presence, joining Arada and Sobha Realty among the growing number of UAE developers pursuing Australian buyers and development opportunities.
Australian shares fell on Thursday as Wall Street weakness, rising oil and persistent rate concerns weighed on most of the market. The S&P/ASX 200 declined 0.72 per cent to 8,702. The All Ordinaries lost 0.66 per cent to finish at 8,897. Mining stocks were hit particularly hard, while real estate also dragged on the index. …
Continue reading “ASX falls 0.7 per cent as miners and property stocks retreat”
A vibrant 1954 Palm Springs home featuring eight colorful murals by late artist Shawn Savage is on the market for $2.295 million. The 2,237-square-foot property features bold hot-pink doors, three bedrooms, a pool, mountain views and playful interiors blending modern glamour with classic Palm Springs style.
3 min
A bold 1950s home in Palm Springs, California, adorned with eight colorful murals by the late artist Shawn Savage, is coming to market ahead of the city’s annual Modernism Week.
The white stucco home on El Camino Way, built in 1954 and recently renovated, has an asking price of $2.295 million. Its staggered facade features three playfully abstract murals on either side of double-height hot pink doors.
MORE: Megamansion Outside Princeton, N.J., With a Pub and Two-Story Library Heads to Auction
The sellers are Los Angeles-based partners John Freeman and Mathieu Faure, who knew it was “the one” when they saw it after several months of searching in the winter of 2023. “It’s a happy house,” Freeman said. “We really liked the feel of the house: the uniqueness, the openness, the brightness—and the art.”
Located in the Mesa neighborhood of Palm Springs, which backs up to the San Jacinto Mountains, the 2,237-square-foot house features three bedrooms, an angled bonus room and a yard with a pool, desert mountain views and another colorful mural running alongside the pool.
“I never thought in my life I would have a house with pink doors,” said Faure, a producer at Apple TV who is originally from Paris. “It’s so colorful, it’s so different. And so Palm Springs.”
The layout of the home creates a smooth flow from the front doors through the open-plan common area—a foyer, bar, and living and dining room—into the kitchen around a fireplace wall and out to the yard. A corridor leads to a private bedroom wing, where the primary suite has floor-to-ceiling windows and the primary bath is only a tad smaller than the bedroom.
Faure has filled the home with Jonathan Adler furniture, rugs and accessories, riffing on the energetic California vibes of the house to create an aesthetic of “modern American glamour,” he said.
“It was enjoyable for me to play with different types of furniture and make this house ‘happy chic,’ as I describe it,” he said.
MORE: Beverly Hills Villa of Late Philanthropist Glorya Kaufman Sells for $19.25 Million
“He did a fantastic job,” said Freeman, who is an attorney and consultant. “It does kind of bring a smile to my face whenever I walk into the house.”
Since the furniture and decor were chosen for the particularities of the space, the couple is open to selling them with the home. Their West Hollywood house is already furnished; the collection doesn’t match the vibes of a Houston loft they bought near family; and Faure can’t imagine these pieces in New York—where he’s lived in the past—he said.
The duo bought the Palm Springs house for $1.925 million in 2024, according to property records, and will list the home Monday. They are represented by Stewart Smith, Patrick Jordan and Kevin Stanley of Bennion Deville Homes/Luxury Portfolio International.
The previous owners had purchased the home in 2021 for $975,000 and then spent more than two years and $700,000 on the renovation, according to Realtor.com. They commissioned Savage, a local Palm Springs artist and painter known for his joyful abstract work, to decorate the home.
MORE: Alpine Villa From Lady Gaga Movie ‘House of Gucci’ Lists for €2.9 Million
Savage, who died in 2024, lived in the Coachella Valley from 2003, and his work can be found in various local institutions and is on exhibit at the Illumine Gallery in Palm Springs. “Some artists pass through a place. Shawn Savage became a part of it,” the gallery’s description states.
Unsurprisingly, the murals invite lots of friendly conversations, as well as guided tours and interested lookers, but never to a degree that it disturbed the peacefulness of their home or the neighborhood, the sellers said. “It felt like living in an art gallery, and you have the exterior that you would share with the world,” Faure explained.
The neighborhood also played a role in their decision to buy, because of its access to the hiking trails of the San Jacinto Mountains, the lack of through-roads and the neighborly environment.
“It’s a very friendly place,” Faure said.
The 1860s Darlinghurst mansion Stoneleigh could become Sydney’s most expensive home ever sold under the hammer when it goes to auction. Clint Ballard is giving buyers a $28 million guide for the heritage-listed mansion on Darley Street, opposite Iona, the former home of Hollywood royalty Baz Luhrmann. Stoneleigh is being offered for sale for the …
MAISON de SABRÉ’s new Spring Harvest Collection turns everyday produce into collectible leather charms and introduces fresh silhouettes in its cult Bucket bag family.
