Rental Vacancy Just Hit An All-Time Low And Yes, The Sharehouse Market Is Cooked Too

Australia’s rental vacancy rate reached an all-time low in May and has continued to break records since, while sharehouse vacancy also plummeted this year as unaffordability locks more people into renting long-term. Yes, we can blame our bonkers house prices. Even though lockdowns made many people never want to live with housemates again, as it turns out finding a room in a sharehouse is still fucking hard. “Despite the initial increase in vacancy in the pandemic, demand in inner-city areas has returned and vacancy is now low,” Flatmates.com.au Community Manager Claudia Conley told PEDESTRIAN.TV. “Occupancy is back to pre-pandemic levels and in some areas demand is far outstripping supply for rooms in sharehouses.” Nationally, there was a ratio of five people looking for each room in a sharehouse available on Flatmates.com.au at the end of the financial year. It dipped slightly since a two-year peak in March 2022 when there were eight people for each room available, but this is still bad news. Zooming in on some areas the situation gets much

dropped in all capital citiesNicola Powellcurrent net migration rate is 5.4 per 1000 population25 per-fucking-cent nationwideeven more in Sydney“No one can keep up with that level of price growth,Dominic Perrottetannounced a First Home Buyer Choice scheme“The rental market and the sales market are interlinked and I think we’ve got people in the private rental market that probably should be in social housing,” she said.“That needs to be something that’s addressed by government. We need to make sure our most vulnerable Australians are being housed in social housing. That puts additional pressure on the rental market when really they should be in a social home.” 

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