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
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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.
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Strong population growth, major infrastructure spending and comparatively affordable property are expected to cement Melbourne’s position as Australia’s most attractive long-term real estate market.
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Melbourne is poised to become Australia’s largest city within the next decade, with strong population growth, infrastructure investment and relative affordability driving long-term property demand.
A new research report from Knight Frank argues the Victorian capital remains one of the country’s most compelling markets for investors, businesses and residents.
The report highlights the city’s rapidly expanding population, diverse economy and major infrastructure pipeline as key factors underpinning future property growth.
Knight Frank Managing Director Victoria, Dominic Long, said Melbourne’s fundamentals continue to position the city strongly for long-term investment.
“Melbourne continues to stand out as one of Australia’s most compelling real estate markets,” he said.
“It is Australia’s strongest long-term growth city with the fastest growing population, the most diversified economy, world-class liveability and the most affordable major market for office, industrial and residential property.”
Population growth driving demand
Melbourne’s population has grown at an average rate of 1.8 per cent per year since 2000, faster than any advanced global economy, according to the research.
In the year to June 2025 alone, the city added about 123,500 residents, the largest annual increase of any Australian capital.
Population growth is expected to remain one of the key drivers of demand across residential and commercial property markets, including housing, offices and logistics space.
The report forecasts Melbourne’s population will overtake Sydney’s by the 2030s, reinforcing its position as the country’s fastest-growing major city.
Office market offering value
Melbourne’s CBD office market is also attracting renewed attention from investors.
Prime office rents remain significantly lower than in competing cities, with CBD office space about 46 per cent cheaper than Sydney and around 13 per cent cheaper than Brisbane.
That relative affordability is expected to drive long-term demand from occupiers and investors seeking value in Australia’s largest office markets.
The city’s office sector is also showing signs of recovery, with effective rents rising in 2025 and demand increasing for high-quality buildings in premium locations.
Industrial market benefiting from scale
Melbourne’s industrial sector continues to expand, supported by strong population growth, e-commerce demand and the scale of the city’s logistics network.
The city already hosts the country’s largest industrial market, with about 34 million square metres of warehousing stock and significant land available for future development.
Industrial rents remain competitive compared with other capitals, while Melbourne’s port handles the largest container volumes in Australia, further supporting demand for logistics space.
Infrastructure pipeline supporting growth
More than $200 billion in transport infrastructure investment between 2014 and 2036 is also expected to reshape the city and support future property values.
Major projects include the Metro Tunnel, the West Gate Tunnel, the North-East Link and the Suburban Rail Loop, which together will improve connectivity across Melbourne and its growth corridors.
Knight Frank’s Head of Research & Consulting, Victoria, Dr Tony McGough, said these investments would play a key role in supporting the city’s economic expansion.
“Melbourne is Australia’s most economically diverse city and has delivered stable growth for more than two decades,” he said.
“With strong population growth, a highly educated workforce and unprecedented infrastructure investment, Melbourne is well placed to remain one of Australia’s most attractive long-term property markets.”
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