The suburbs where demand for share housing has hit historic highs

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.

A grand old dame who has stood the test of time, Marika is a slice of Hunters Hill heritage transformed for modern-day living.

Meticulously renovated between 1981 and 1983, with several updates since, Marika made it onto the heritage register in 1999 just in time to signal a new millennium. Today, the modernised mansion is on the market with an auction price guide of $7.5 million, marketed through BresicWhitney’s Nicholas McEvoy.

“The home is a fantastic opportunity for a discerning buyer to get a grand family estate-style property, with a pool, tennis court and grounds, for a price that’s much more affordable than expected,” McEvoy says.

Sitting pretty on the corner of Augustine St and Ryde Rd, the stately Federation residence occupies a sprawling 2472sq m block, which was once part of a 30-acre land grant handed to Frederick Augustus Hayne in 1835. In 1902, he sold it to Dr Leopold Augustus Carter, a local dentist. Two years later, Marika, then known as “Ryde”, appeared in the famed Sands Directory – the social media of its era – a symbol of its architectural significance.

Surrounded by manicured gardens with sculpted hedges, a pool and full tennis court, Marika is a prime example of Federation style with contemporary elements.

Inside, the single-level five-bedroom home showcases intricate craftsmanship, from its decorative gables, period archways and bay windows to the coloured glass panels on multiple doors and windows. Elegant formal rooms have high ornate ceilings that are a preserved nod to Marika’s past, while the more modern spaces are relaxed family-friendly zones.

Thanks to a pavilion-style addition, the L-shaped layout measures 450sq m internally and wraps around a central courtyard that plays host to the alfresco dining terrace and pool, while a wide veranda frames the original front rooms of the house.

Primary living spaces, including the dining area with integrated bar, open to the great outdoors via stacker doors and the 21st century kitchen has a large island bench and a butler’s pantry with hidden access to the triple lock up garage. There is also a dedicated media room, a library or home office, plus a separate family room with a beautiful bay window.

All bedrooms feature built-ins while the main retreat, and a second bedroom, have shower ensuites. The shared bathroom houses convenient twin vanities and a freestanding bathtub.

Beyond the interiors, Marika delivers resort amenities with a full-sized, floodlit tennis court, the pool, barbecue terrace and a self-contained studio apartment with the added bonus of Harbour Bridge glimpses.

Added extras include a converted loft storage space, a large laundry with side yard access, ducted air conditioning, multiple fireplaces, solar panels with a battery backup and modern insulation.

Accessed via Augustine St, Marika is close to St Joseph’s College, Boronia Park shops, local ovals and city transport.

Marika at 59 Augustine St, Hunters Hill is set to go under the hammer on April 26, on site at 9am with a price guide of $7.5 million. The listing is with Nicholas McEvoy and Narelle Scott of BresicWhitney Hunters Hill.

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

A heritage-listed Federation estate with tennis court, pool and studio, Marika offers timeless elegance and modern family living in the heart of Hunters Hill.