Tenants are being charged up to $1,800 a week just for a single room in a Sydney sharehouse as vacancies continue to tighten.
Exclusive new Flatmates.com.au data has revealed multiple instances of sharehouse rooms advertised for well above $800 a week – figures that only recently would have been enough to rent out a full house in many suburbs.
It comes as low vacancy rates continue to squeeze would-be renters, driving up competition and rents for the scant supply of available properties.
The citywide vacancy rate is currently 1.7 per cent. For some perspective, a “balanced” rental market with an even balance of supply to demand would have a vacancy rate of about 3 per cent.
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Ray White head of research Vanessa Rader said Sydney’s low vacancy rates and population growth were pushing people into large sharehouses far from the city.
“We’re seeing more and more people going into shared accommodation to combat the increase in rents and sharing those costs,” Ms Rader said.
“We’ve seen more people moving further west and moving into bigger properties, which suggests that they’re sharing, as opposed to being in kind of single dwelling or independent dwelling units closer to the city,” she said.
Flatmates.com.au revealed the top 10 priciest rooms currently listed in sharehouses across Sydney:
10 – Sydney CBD: $900 per week
A room within a three-bedroom, two-bathroom unit is listed for $900 per week. It’s the master bedroom and has its own balcony but comes with a catch.
According to the listing, the balcony is only accessible through the bedroom but “is considered a shared household space” primarily used for drying washing.
Property records show a studio in the same building signed for $950 per week in May.
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9 – Haymarket: $920 or $900 per week
This apartment has two bedrooms and two bathrooms but the ensuite room runs $20 more per week.
The building is equipped with a gym, swimming pool and outdoor garden areas.
Other two bedroom apartments in the building have gone for $1,400 a week as recently as Tuesday.
8 – Woollahra: $950 per week
A room within a Wollahra sharehouse is charging $950 per week – excluding bills.
The master bedroom of this three bed, two bath unit opens out onto a little balcony.
The newly renovated house has a sleek modern style and an enclosed courtyard.
The room is advertised as “a little bit more private” and is understood to be on the second floor of the apartment.
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7 – Macquarie Park: $999 per week
A room within a two bed, one bath property on the northern side of Sydney is just shy of $1000 for week. The listing notes the rent includes “100mbps internet for maximum brain rot”.
6 – Kirribilli: $1050 per week
Known for being Prime Minister Albanese’s suburb of choice, Kirribilli is close to the Sydney Harbour and the Harbour Bridge. This two bed, one bath apartment advertises views of the bridge and Opera House.
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5 – Pyrmont: $1,200 per week
A shared room in a two bedroom, two bath property described as “stylish & spacious” is listed for $1200 per week. This is the only twin room to make this top 10 expensive listings but it does have an ensuite.
4 – Kingsford: $1,300 per week
A room in student accommodation 100m from The University of NSW is available for $1,300 per week. The room is in a three-bedroom, three-bathroom apartment. The building has a pool.
The apartment has a study and the room comes with a balcony overlooking a leafy park.
A three bed, two bath located two floors down was listed for lease on Tuesday at $1,320 per week.
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3 – Kensington: $1,400 per week
A three bed, two bath property just down the road from #4 and 20 minutes from the CBD.
This one is another student accommodation marketed for UNSW students and comes with ducted aircon and a swimming pool.
2 – Tamarama: $1,450 per week
The $1,450 per week deal is for a room in a two bed, two bath apartment overlooking the ocean in a room with its own bathroom but not an ensuite.
It’s located just a few streets back from the beach, wedged between Tamarama Beach and Bondi Beach.
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1 – Pyrmont: $1,800 per week
A private twin room in a three bed, two bath apartment with its own ensuite is listed for $1,800 per week.
It’s located in a building with a pool, spa, sauna and gym close to Coles and a 20 minute walk to Town Hall Station.
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Originally published as Sydney’s top ten priciest listings reveal eye-watering prices in unexpected suburbs
Read related topics:Sydney